AppLovin-owned Adjust lays off staff
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AppLovin-owned mobile app measurement and marketing company Adjust has laid off staff, PocketGamer.biz understands.
Reports of the redundancies have emerged across social media. It’s not clear how many staff and what departments were impacted. We have reached out for comment and will update the story with any further information.
According to a recent WARN notice filed in California on November 13th, AppLovin said it was laying off 120 staff.
Meanwhile a filing on October 15th said 58 staff were facing job losses, another on October 3rd cited 65 cuts, and a further notice Back in August 14th noted 61 layoffs.
It’s not clear if the redundancies are related and whether these are separate job cuts are part of the same round of layoffs.
Acqusition deal
Adjust was acquired by AppLovin in April 2021 in a deal worth up to $1 billion. Following the deal, AppLovin CEO Adam Foroughi called the purchase a “major milestone” for the company. He said its real-time app solutions, “large and diversified client base and globally distributed sales infrastructure” would help it “grow rapidly”.
At the time, AppLovin employed over 500 staff at 16 offices around the world.
In its latest Q3 2024 financials, AppLovin said revenue was up 39% year-over-year to $1.2bn. Net income rose by 300% Y/Y to $434 million. It noted that by the end of the quarter, it had $568m in cash and cash equivalents.
