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KKR - KKR & Co Inc News Story

$57.88 0.2  0.3%

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Sector
Financials
Size
Large Cap
Market Cap £24.02bn
Enterprise Value £65.56bn
Revenue £7.24bn
Position in Universe 388th / 6854

BREAKINGVIEWS-Applovin slump may be prelude to IPO downer

Fri 16th April, 2021 1:20am
(The author is a Reuters Breakingviews columnist. The opinions expressed are her own.) By Jennifer Saba NEW YORK, April 15 (Reuters Breakingviews) - The mobile gaming firm’s near-20% plunge on its first day of trading makes it an IPO-market outlier. Applovin is growing, and while it has fierce competition, that was well flagged. Still, even if the IPO game is coming to an end, backer KKR should win either way. Full view will be published shortly. On Twitter https://twitter.com/jennifersaba CONTEXT NEWS - Shares of Applovin started trading on the Nasdaq exchange at $70 on April 15, after being priced at $80. They closed at $65.20, giving the U.S. company a valuation of $23.3 billion. - Applovin, which is backed by private equity firm KKR, raised $2 billion in its initial public offering. The company has 200 free-to-play games and a mobile advertising platform. - For previous columns by the author, Reuters customers can click on SABA/ <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ BREAKINGVIEWS-Epic’s $29 bln price tag looks beyond “Fortnite” urn:newsml:reuters.com:*:nL8N2M73BC BREAKINGVIEWS-Applovin IPO is magic money chest for KKR urn:newsml:reuters.com:*:nL1N2M018K BREAKINGVIEWS-Cash flow sets runaway Roblox debut apart urn:newsml:reuters.com:*:nL1N2L82CB ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (SIGN UP FOR BREAKINGVIEWS EMAIL ALERTS http://bit.ly/BVsubscribe | Editing by John Foley and Katrina Hamlin) ((jennifer.saba@thomsonreuters.com; Reuters Messaging: jennifer.saba.thomsonreuters.com@reuters.net))
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