AppLovin CEO Adam Foroughi shares his productivity best practices and secrets for hiring and retaining the best tech talent. Adam Arash Foroughi's largest sale order was 1,120,999 units , worth over On April 15, 2021, AppLovin became a public company after an initial public offering (IPO), with a total valuation of approximately $24 billion. It also bought Magic Tavern, creator of puzzle game Project Makeover, and Peoplefun, developer of Wordscapes. He wasCEO of Juniper Networks in 2014 and ran Coriant, an optical networking firm until June 2018. Also a quick word about the companys name, Applovin. While some have suggested that AppLovin is an homage to actor Christopher Charles Mintz-Plasse characters pseudonym, McLovin, in the 2007 movie Superbad, Foroughi says thats not the case. Omidyar worked at the legendary Silicon Valley startup General Magic and in the earliest days of the World Wide Web envisioned the power of a user-driven marketplace of buyers and sellers. Adam Foroughi's actual age is Unknown and his birthday is on None. It turned out to be a fortuitous break for Foroughi, 40, who kept control of the company and oversaw rapid growth in the last half-decade. sale Arash Adam Foroughi Net Worth 2023 and insider trades. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. of 2,242,000. Not yet 40, he and his wife are raising five children under the age of 9 without any extra help. AppLovin has raised 543 employees. Nozad, as noted above, is a former rug dealer turned venture capitalist. of 23,816,575 shares. The most-recent trade in AppLovin Corp is the Victoria Valenzuela who sold 65,167 units worth AppLovin was valued at $28.6 billion in its IPO ahead of the start of trading on Thursday, based on a reported $80 share price, which was in the the middle of the expected range. Normally the ad cost for an Instagram ad post is based on the number of followers on the account. It was a solid bet as his stake in AppLovin is now. Arash Adam Foroughi is the director & 10 percent owner & CEO & Chairperson of AppLovin Corp. $2.5 billion, according to our most recent tally. 2023 Forbes Media LLC. In the last 2 years at Applovin Corp, Adam Arash Foroughi has sold an estimated value of $26.07M worth. Hes been an early investor in multiple successful tech companies with Iranian-American founders including Aquantia, SoundHound, and AppLovin. Miner left shortly thereafter to start a company with two other colleagues and Ellison was later hired. He told me, "the meeting has to have value for me personally to be in it or I'm going to walk out." The performance of stocks bought by Arash Adam Foroughi within 3 months outperforms 0 times out of 1 transactions in total compared to the return of S&P 500 within the same period. Tinders popularity, though, hampered the companys prospects and Mehr and Zadeh left the company when it canceled its IPO in December 2014. Like thousands of other Iranians, they settled in Southern California, in Foroughis case in 1984 when he was 4 years old. Nazem worked for Oracle starting in 1985, helping to build the company into the database giant it became. For those who do not have an account on a certain platform, we added the official website link of the platform. Foroughi has some unconventional views on entrepreneurship and productivity, but with AppLovin employee retention at fourto five years on average, he's doing something right. $874.01K . . 4 . So that's all we have about Adam Foroughi's net worth, bio, wiki, biography, height, weight, awards, facts, sibling, awards and other information. private equity giant KKR paid $400 million. Fundamental company data provided by Morningstar, updated daily. When youre Iranian and we talk about the food, your background, your culture, its a magnet., All this bodes well for the next generation of Iranian immigrants, and not just in the tech world. A spokesperson for AppLovin declined to comment on his net worth. Miner ran engineering (Ellison led the sales team) and is credited with writingOracle Version 3 by himself. Past performance is a poor indicator of future performance. There have been reports of more and more rats appearing and taking more and more liberties on NYC streets, in NYC buildings, and even in NYC toilets. Who is the Girlfriend of Adam Foroughi? Adam Foroughi Age: 37 Education: B.A., business administration, University of California,. There aren't many billion dollar software companies that didn't raise venture capital funds. Pourzanjani started PriceGrabber in 1999. , As soon as we stopped presenting, Pejman ran up and started speaking to me in Farsi, says Ferdowsi. Got a confidential news tip? So there's a really high bar, because I will rarely miss time at home with my family for that," says Foroughi. Net income. Some FAQs (Frequently Asked Questions) about Adam Foroughi. Check out Frank E. Holmes's net worth in US Dollar Mar, 2023. . , Mehr has gone on to cofoundMentorBox, a new kind of executive education program, where hes CEO. This investment adviser does not provide advice to individual investors. 2004-2023 GuruFocus.com, LLC. It could also well be the case, that with all the hue and cry over the potentially monopolistic practices by the Silicon Valley behemoths, it might be in the best interests of the tech giants for a company like AppLovin to be out there thriving. At the time, he called it "a great day for AppLovin," adding that there was a lot of interest in the company but he chose Orient Hontai "because of their strong connections in the Chinese market.". In 2016, AppLovin agreed to be acquired by a Chinese investment firm in a $1.4 billion deal, but that transaction fell apart the following year. 9 at Google and has served a variety of roles in his career there. Foroughi is the CEO. 10 percent owner Hontai App Fund Limited Partnership Yazdani started his career at Oracle in the 1980s and has gone on to be a prominent and prolific investor. At times he has criticized and embarrassed Tinders parent company, Match Group (which is part of IAC), with his public comments. AppLovin AppLovin cashed in on the money pouring into the mobile gaming industry with an IPO Thursday which valued the. GuruFocus also compares Arash Adam Foroughi's trading performance to market benchmark return within the same time period. Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard,SmartNews,LinkedIn, YouTube, and reddit. As of 2023, the current net worth of Adam Foroughi $1.56 B. Sandlers distinct flavor of comedy may not be what comes to mind when one thinks of the Twain Prizeand hed be the first to agree. The info about Adam Foroughi's net worth, wiki, bio, career, height, weight, family, affairs, car, salary, age, and other details are based on Wikipedia, IMDb, Forbes, Instagram, and Facebook of Adam Foroughi. So what is the networth of Adam Foroughi? [4] As a result of AppLovin's successful IPO, Foroughi's net worth rose to an estimated $2 billion.[5]. in economics. Foroughi worked hard in school and ended up going to Cal Berkeley where he majored in finance. Parviz runs Amazons version of Googles moonshot factory called X. According to the SEC Form 4 filings, Arash Adam Foroughi has made a total of With the company growing rapidly, Foroughi and team decided to sell out to a Chinese private equity firm, Orient Hontai Capital, in September 2016 at a valuation of $1.4 billion. stock. It's actually a myth about how to make money on Facebook Adam Foroughi is an Iranian-American billionaire businessman and the chief executive officer (CEO) of AppLovin, a mobile technology company. Mehr started the online dating service in 2007, growing it to almost $200 million in annual revenue in 2013 and the verge of an IPO. Beykpour cofounded the video live streaming app Periscope, and Twitter acquired it for a rumored $100 million before it launched in 2015. Revenue in 2020 climbed 46% to $1.45 billion. We hope you get the information about Adam Foroughi. He retired in 2007 and has been an investor and advisor since (see below). Arash Adam Foroughi currently owns a total of 1 Hes currently CEO and founder of Leap Rail, a data analytics platform for surgical practices. AppLovin also recently implemented a special program for employees who have worked at least four years to get six months pay to figure out what they want to do instead. In the meantime, Foroughi, who has five kids under the age of 10, keeps on trying to grow his business and make the American dream come true. AppLovin tries to hire fast but precisely. Rad has had a controversial career: His cofounders Justin Mateen and Whitney Wolfe both left the company in a sexual harassment dispute between the two. 1,121,001 shares on December 12, 2022, which sale Five years ago, AppLovin co-founder Adam Foroughi thought he'd just sold his mobile advertising start-up for $1.4 billion. We want to hear from you. For Foroughi, going public wasn't originally part of the script. There was a huge backlog of Chinese-U.S. deals at the time getting road blocked, says Foroughi. sale As a result of AppLovin's successful IPO, Foroughi's net worth rose to an estimated $2 billion. In total, Adam Arash Foroughi has made about 8 transactions over 2 years of their time at Applovin Corp. He went on to cofound a social music service called iLike, which MySpace purchased for a reported $20 million in 2009. , Foroughi was born in Iran a year after the 1979 Iranian Revolution and immigrated to California as a child. Dilbert creator Scott Adams has been writing offensive, inflammatory posts for years, until racist commentary made on an YouTube video marked the end of his comic book career. Adam Foroughi - Co . "We don't want people trying to get stepping-stone jobs to some other end goal, whether they know it or not. Andy Serwer is editor-in-chief of Yahoo Finance. 10 percent owner Angel Pride Holdings Ltd Aquantia, a semiconductor company focused on high-speed networking, was founded in 2004 and Aalaei took the company public in 2017. 2023 CNBC LLC. We're all very excited about what this means for our developer and demand partners and the industry as a whole. The Partovis founded Code.org to help young people learn computer programming; 30% of U.S. students have a Code.org account. [1] From the Iraniain Revolution, to Cal Berkeley, to the trade war with China, to Silicon Valley unicorn, Adam Foroughis life arc has had a most unusual trajectory. Adam Foroughi - CEO, Co-Founder @ AppLovin - Crunchbase Person Profile Oops! of 155,322 shares. In 2012, he and Mateen cofounded Tinder, the dating app which revolutionized smartphone interaction design, thanks to the concept of the swipe. Kihorany Katie Jansen, Chief Marketing Officer, You can help Wikipedia by expanding it. a net Adam Foroughi $1.3B 2022 Billionaires Net Worth as of 4/4/22 Photo by AppLovin About Adam Foroughi Adam Foroughi is the cofounder and CEO of AppLovin, which makes mobile games and. There was an unexpected issue while trying to process your request. Adam Foroughi San Francisco, California, United States 5K followers 500+ connections Join to view profile Activity Harry Stebbings with another great interview of Eduardo Vivas . . Were a profitable business. 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Foroughi owns 9.2% of its shares. Take a look at the following table for more information. According to the various source, there is an approximate asset that is net worth. When Ferdowsi and his cofounder Drew Houston later pitched Dropbox to an audience of potential investors, he met Pejman Nozad. Foroughi says having kids forced him to put things into perspective with time management. (Orient retained a small equity position in the company.). He began his career as a derivatives trader, where he was inspired by scalable, data-driven trading models to create profitable results. Sabet is a general partner at Spark Capital, where he made his name investing in Tumblr in 2007 and Twitter in 2008. podcast episodes, Brokers, Bagmen, & Moles podcast episodes, Connections with BCD Travel podcast episodes, Cyber Security & Cloud Podcast podcast episodes, Coinbase Institutional Market Call podcast episodes, South Side Rules: A Shameless Podcast podcast episodes. In November 2017, Foroughi wrote in a blog post that the company was instead taking an $841 million debt investment from Orient Hontai, meaning AppLovin would keep "full control of our business while accessing additional capital to help finance our continued global growth.". You might contact Arash Adam Foroughi via mailing address: 1100 Page Mill, Palo Alto Ca 94304. In 2005, he helped sell Shopzilla (which included Bizrate) to E.W. Get this delivered to your inbox, and more info about our products and services. His philosophy is simple but also brutally honest. Pishevar is another colorful, controversial founder on this list. Want to more about Him? Sign up for free newsletters and get more CNBC delivered to your inbox. Stock quotes provided by InterActive Data. Now, as his company gets set to hit the public market, he's personally worth close to twice that amount. The $820 million loan allowed Foroughi, 40 as of late February, to pay off debt and invest in the business without sacrificing his own equity. Another of Daras cousins, Shirazi was an early Facebook employee and worked at eBay before starting the enterprise data analytics platform Radius in 2008. In this table, we added the education information of Adam Foroughi. AppLovin's valuation has soared to $28.6 billion in its IPO from $2 billion in 2018, when the company raised a minority investment from KKR Denali. AppLovins is a super-competitive business but as CEO and chief cheerleader, Foroughi is, not surprisingly, bullish on his company, which now has some 200 employees. Latest Growing a Business 3 Reasons. But the deal fell through. and John Krystynak When is Adam Foroughi's next birthday? We added the information below. Reuters reported the Committee on Foreign Investment in the United States pushed back on the original deal due to the then-new Trump administrations reluctance at the time to approve deals involving Chinese firms. Adam then founded two companiesLifestreet Media and Social Hourwhere he applied and expanded his knowledge of mobile technology. Find contact details for 700 million professionals. Plus all the other platforms, Snap (SNAP) and Reddit now. In 2016, AppLovin announced it was selling a majority stake to Chinese private equity firm Orient Hontai Capital, but that deal was restructured a year later, with Orient Hontai buying just a 10% equity stake for $140 million and contributing another $841 million in debt financing. AppLovin was raised $2.5B. What is the Networth of Adam Foroughi? He went on to create the popular social image-sharing app Flipagram, which Bytedance acquired in 2017. Rowghani joined Y Combinator in 2014 as a partner and launched Continuity, its fund for growth-stage investments, a year later with $700 million to deploy. Coriant was acquired by Infinera shortly thereafter for $430 million. The company has been on a buying spree since 2018, spending more than $1 billion on 15 acquisitions and partnerships, according to its public offering filing with the SEC. For the wave of Iranian immigrants like Khosrowshahi, who arrived in the years around the Islamic Revolution, networking within their community was of limited utility when they were coming up, simply because so few were in positions of influence then. Foroughi, who created AppLovin after starting a couple other ad tech companies, owns 27.9 million shares valued at $2.2 billion. Insiders are limited to only officers and/or directors of the company. [1] Upon graduating from Berkeley, Foroughi worked as a derivatives trader. When is Adam Foroughi's next birthday? Adam Arash Foroughi usually trades in December and February, with the busiest year in 2022 and 2023. "Maybe it just wasn't the right timing, but not a single VC chose to invest with us after countless meetings. Foroughi doesn't even have a personal assistant at AppLovin, and he manages his inbox himself. After Goodarzis father passed away, his older brothers started a business to support the family. He helped build Google into a company that generated $70 billion in annual revenue. Want to know Adam Foroughi's Height Weight in Feet-Inch or Meter-Centimeter? Last edited on 18 February 2023, at 23:59, "Mobile Ad Startup AppLovin Says It Has Reached A $100M Revenue Run Rate", "Mobile gaming company AppLovin starts trading at $70, giving it a market cap of about $24 billion", "AppLovin IPO Makes Cofounder Adam Foroughi A Billionaire With $2 Billion Stake", https://en.wikipedia.org/w/index.php?title=Adam_Foroughi&oldid=1140204850, This page was last edited on 18 February 2023, at 23:59. Sometimes insiders . How much funding does AppLovin have? Coinbase CEO Brian Armstrong on corporations' role in politics, Nasdaq president on Coinbase's direct listing. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. He died in 1994 frommesothelioma at age 52. In this section we will talk about Adam Foroughi's age and birthday related info. Foroughi bootstrapped AppLovin for years without outside funding.