PALO ALTO, Calif. - AppLovin (NASDAQ:APP) Corporation (NASDAQ: APP), a global marketing platform, announced today the appointment of Barbara Messing, a seasoned marketing executive with experience at Roblox, Walmart (NYSE:WMT), and TripAdvisor (NASDAQ:TRIP), to its Board of Directors.
Barbara Messing's career includes significant roles such as the Chief Marketing and Communications Officer at Roblox, Chief Marketing Officer at Walmart US, and various leadership positions at TripAdvisor, Hotwire, and Overstock. Her extensive background in marketing and management is expected to contribute to AppLovin's strategic direction and growth.
Adam Foroughi, the CEO and Chairperson of AppLovin, expressed enthusiasm about Messing joining the board, citing her vast experience with major brands and her potential to enhance the company's marketing technology applications.
Messing, currently serving on the board of Vacasa and previously on the boards of Overstock.com (NYSE:BYON) and XO Group, shared her excitement about joining AppLovin's board. She looks forward to aiding in the company's mission to create valuable connections between businesses and their target customers.
The addition of Messing to the board complements a diverse group of industry leaders, including executives from Wynn Resorts (NASDAQ:WYNN), HubSpot (NYSE:HUBS), KKR, and Curated.com, as well as AppLovin's own co-founder and CEO, Adam Foroughi.
AppLovin's platform is designed to assist businesses of varying sizes in reaching and engaging with their ideal audiences through software and AI solutions. The company focuses on helping businesses effectively monetize and expand their global presence.
This appointment is based on a press release statement from AppLovin Corporation.
InvestingPro Insights
As AppLovin Corporation (NASDAQ: APP) welcomes Barbara Messing to its Board of Directors, the company's financial health and market performance provide a backdrop for assessing its future growth prospects. According to InvestingPro data, AppLovin boasts a robust market capitalization of $20.05B, reflecting investor confidence in its market position and growth potential.
In the realm of profitability, AppLovin's revenue growth is notable, with an increase of 16.54% over the last twelve months as of Q1 2023. This is complemented by an impressive gross profit margin of 67.74%, which underscores the company's efficiency in managing its cost of goods sold relative to its revenue.
InvestingPro Tips highlight that AppLovin's stock has experienced significant appreciation, with a one-year price total return of 339.9%, signaling strong market performance. Additionally, the company has been trading near its 52-week high, at 96.86% of this peak value. This could be indicative of positive investor sentiment and a bullish outlook on the company's value.
For investors seeking more in-depth analysis, InvestingPro offers additional tips on AppLovin, including insights on share buybacks and shareholder yield. With management's aggressive share repurchase strategy, investors could anticipate a potential increase in earnings per share over time. Moreover, the platform provides a comprehensive view of the company's financials, with more tips available to subscribers. To access these valuable insights, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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