Sophie Blake
Mobile marketing analytics company AppsFlyer is reportedly in advanced negotiations to be acquired by a private equity firm in a deal valued between $3.5 billion and $4.5 billion, according to sources cited by Calcalist. Investment bank Goldman Sachs is advising on the sale.
Founded in 2011 by Oren Kaniel and Reshef Mann, the Israeli-based company develops analytics tools that help app owners determine which marketing channels deliver the most profitable users. Its platform tracks performance across a range of campaigns, including search, social media ads, direct mail, SMS, and television. AppsFlyer currently employs around 1,300 people and generates approximately $400 million in annual revenue, with positive cash flow for several consecutive quarters.
The potential acquisition marks a shift in strategy for the company, which in 2020 raised $210 million in a Series D funding round led by General Atlantic and joined by Salesforce. At that time, AppsFlyer was valued at $2 billion. Revenue has since tripled, aided by the launch of new products and several acquisitions aimed at expanding its offerings.
Last year, Bloomberg reported that AppsFlyer was preparing for a U.S. IPO with plans to raise about $300 million, working alongside Goldman Sachs, JPMorgan, and Bank of America. That listing never materialized, and the company has now opted for a private sale route instead.
In early 2025, AppsFlyer laid off about 100 employees—around 7% of its workforce—as part of a restructuring plan. CEO Oren Kaniel said the move was intended to keep the company agile while investing in artificial intelligence technologies, including new tools, models, and training.
The company’s investors include General Atlantic, the Salesforce investment fund, Goldman Sachs Growth, Qumra Capital, DTCP, Pitango Growth, and Magma. AppsFlyer has declined to comment on the ongoing acquisition talks.
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