AppLovin invests $50 million into Flip’s $144 million Series C funding round
AppLovin Corporation, a leading marketing platform, and Flip, a fast growing social commerce platform, announced Flip will soon be relaunching its marketing platform for brands utilizing AppLovin’s AXON technology. Additionally, Flip announced it is raising $144 million in a Series C funding round, including a $50 million investment by AppLovin.
“With the recent launch of our MagicOS ads manager, and now the upcoming launch of our advertising powered by AXON, we are confident we can help tens of thousands of brands find the right customer profitably”
AppLovin’s AXON technology was launched in early 2023, and helped its advertisers achieve substantially more scale at higher performance across AppLovin’s network. With this partnership, AppLovin is making its AXON technology available to others. Flip brands will leverage the AI advertising engine via AXON Connect, and will be able to reach more customers in measurable ways, with higher returns on the Flip platform. In addition, the partnership will enable Flip to extend its audience network to AppLovin’s 1.4 billion daily active users (DAUs) on behalf of all the brands on Flip.
Marketing Technology News: MarTech Interview with Frank Paterno, SVP of Marketing at GlobalMeet
“We have seen the significant impact AXON makes on campaign performance as brands see stronger return on investment. With AXON powering Flip’s ads, the Flip consumer will find more products to purchase. Likewise, brands on Flip will be positioned to drive significantly more sales,” said Adam Foroughi, Co-founder and CEO of AppLovin. “Noor, an incredibly talented founder, has led Flip through the hard part of finding a product market fit. Now that market fit has been clearly established, we believe this partnership will catalyze an exciting phase of growth for Flip and their brands.”
Flip’s funding round was led by Streamlined Ventures with participation from previous investors Mubadala Capital and WestCap, and AppLovin as a new investor, bringing the company’s pre-money valuation to $1.05 billion.
“With the recent launch of our MagicOS ads manager, and now the upcoming launch of our advertising powered by AXON, we are confident we can help tens of thousands of brands find the right customer profitably,” said Noor Agha, CEO of Flip. “We are thrilled to have continued support from our investors and to add AppLovin to the mix.”
Marketing Technology News: Unleashing the Power of Podcasting: A Game-Changer for B2B Businesses
