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AppLovin proposes merger to acquire TikTok amid competitive bidding landscape

AppLovin CEO Adam Foroughi has proposed a merger to acquire TikTok, allowing AppLovin to manage the app while TikTok's Chinese investors maintain a stake. The plan aims to enhance monetization by combining AppLovin's algorithm with TikTok's user base. This bid is part of a competitive landscape that includes other US companies, with any deal requiring approval from the Chinese government. According to a US SEC filing, AppLovin's bid is still in early stages.

appLovin co-founder rises to 10 billion after venture capital rejection

Adam Foroughi, co-founder of AppLovin Corp., faced rejection from Bay Area venture capital firms over a decade ago. Now, with shares of the ad-tech company soaring seven-fold this year, his net worth has reached $10.4 billion, placing him among the world's 500 richest individuals, according to the Bloomberg Billionaires Index.
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