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China: Orient Hontai buying majority of AppLovin for $1.4bn

 |  September 27, 2016

Mobile ad startup AppLovin announced on Tuesday that it agreed to sell a majority stake of the company to Chinese private equity firm Orient Hontai Capital for $1.4 billion.

AppLovin co-founder and CEO Adam Foroughi said that the company raised merely $4 million from angel investors.

The company claims its technology helps advertisers target and deliver personalized ads to people who are similar to their existing user base.

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