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By Reuters Staff
2 Min Read
(Reuters) -Mobile app and gaming company AppLovin Corp, which is backed by private equity giant KKR & Co Inc, said on Wednesday it was aiming for a valuation of more than $30 billion in its U.S. initial public offering (IPO).
The company was looking to raise as much as $2.13 billion by selling 25 million shares at a price range of $75 to $85 per share. It had hired Morgan Stanley to lead its IPO, Reuters reported last year.
The Palo Alto, California-based company is the latest player in the mobile gaming industry looking to cash in on the surge in demand for video games from people staying at home due to the COVID-19 pandemic.