Kyle Grieve and Shawn O’Malley break down AppLovin, the mobile advertising platform that went from a failed app recommendation tool to one of the most profitable businesses in ad tech. What you’ll learn here: 00:00:00 - Intro 00:01:46 - How a failed app became a global advertising platform 00:10:35 - How AppLovin makes money from advertisers and publishers 00:15:36 - Why real-time auctions beat the old waterfall method 00:28:36 - What actually protects AppLovin from Google and Meta 00:33:17 - Why AppLovin bought mobile game studios, then sold them 00:53:11 - How buybacks created enormous value 01:04:13 - Details on the executive comp structure 01:09:31 - What we think triggered the post-earnings collapse 01:14:55 - Where the next leg of growth could come from 01:24:39 - Valuation discussion of AppLovin 01:26:07 - Intrinsic Value of AppLovin 01:26:31 - Whether Kyle & Shawn will add AppLovin to the Intrinsic Value Portfolio Transcript & Host Info: https://www.theinvestorspodcast.com/intrinsic-value-podcast/ Don't miss out on the value investing event of the Fall: Learn more at https://www.theintrinsicvalueconference.com/ 📨 Sign up for The Intrinsic Value Newsletter: https://www.theinvestorspodcast.com/subscribe-youtube/ 🤝 Join a curated group of serious investors focused on intrinsic value, disciplined analysis, and uncovering high-quality stock ideas. https://theinvestorspodcast.com/mastermind Our Sponsors: 📊 Get access to institutional-grade financial data, real-time company KPIs, and modern research tools built for serious fundamental investors. https://fiscal.ai/tivp 🤝 Join top investors for a day of actionable insights, live Q&A, and exclusive networking — More info at: https://www.theintrinsicvalueconference.com/ ▶️ Related Episodes - Unpacking Alphabet: How Google & AI Shape the Future: https://youtu.be/5WYxGi_7rMk - Valuing Meta (META): Undervalued AI Bet?: https://youtu.be/9ZeC-5la6oU - Trade Desk Deep Dive: Best Ad-Tech Stock?: https://youtu.be/fZko9Iut6AM Listen to our episodes here: https://open.spotify.com/show/7dnn22EWyo6MLsPaR492BM Visit our website: https://www.theinvestorspodcast.com/intrinsic-value-podcast/ Free PDF: Investing for Beginners: 4 Principles of Stock-Picking: https://www.theinvestorspodcast.com/subscribe-youtube/ ⚠️ Disclaimer: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting. #AppLovin #AppLovinStock #AdTech #DigitalAdvertising #ValueInvesting