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Orient Hontai Capital is latest Chinese buyer to scoop up American advertising technology company

Sep 30, 2016 - The Deal Pipeline

Chinese private equity firm Orient Hontai Capital will acquire a majority stake in mobile advertising startup AppLovin Corp. for $1.4 billion, the companies announced Monday, Sept. 26. Co-founder and CEO Adam Foroughi wrote in a blog post that the deal represents "the most sizeable outcome for a mobile advertising company ever," despite AppLovin's initial "difficulty raising capital." AppLovin generated 2015 revenues of over $230 million, and Foroughi wrote that the company is "on pace f...