Maya Robertson
In a strategic move to diversify its portfolio beyond the gaming industry, AppLovin has announced a significant investment of $50 million in Flip, a social commerce platform featuring a dynamic social video feed. The investment comes as part of Flip’s larger $144 million Series C funding round.
Flip’s Series C was led by Streamlined Ventures with participation from previous investors Mubadala Capital and WestCap, and AppLovin as a new investor, bringing the shopping app’s pre-money valuation to $1.05 billion.
Flip will also soon unveil its revamped marketing platform tailored for brands, leveraging the AXON technology provided by AppLovin. Through the integration of AXON Connect, Flip brands will harness the power of AppLovin’s AI advertising engine, facilitating enhanced customer engagement and measurable returns on the Flip platform. Furthermore, the collaboration will empower Flip to expand its audience network to encompass AppLovin’s extensive user base, comprising 1.4 billion daily active users (DAUs), thereby amplifying the reach and impact of brands affiliated with Flip.
“We have seen the significant impact AXON makes on campaign performance as brands see stronger return on investment. With AXON powering Flip’s ads, the Flip consumer will find more products to purchase. Likewise, brands on Flip will be positioned to drive significantly more sales,” said Adam Foroughi, Co-founder and CEO of AppLovin. “Noor, an incredibly talented founder, has led Flip through the hard part of finding a product market fit. Now that market fit has been clearly established, we believe this partnership will catalyze an exciting phase of growth for Flip and their brands.”
“With the recent launch of our MagicOS ads manager, and now the upcoming launch of our advertising powered by AXON, we are confident we can help tens of thousands of brands find the right customer profitably,” said Noor Agha, CEO of Flip. “We are thrilled to have continued support from our investors and to add AppLovin to the mix.”
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