AppLovin's Adam Foroughi: The Power of a Startup Mindset

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Dec 22, 2025

Adam Foroughi, co-founder and CEO of AppLovin, shares his inspiring journey from fleeing Iran to leading a mobile tech powerhouse. He discusses crucial lessons learned during AppLovin's tumultuous IPO, emphasizing the importance of operational efficiency and maintaining a lean team of top performers. Foroughi reveals how the company leverages AI for enhanced ad compliance and efficiency. He also expresses admiration for Elon Musk's innovative execution, highlighting the relentless pursuit of improvement in the competitive tech landscape.

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ANECDOTE

Immigrant Drive Fueled By Family Loss

Adam Foroughi described fleeing Iran as a child and watching his father lose a major business, which fueled his drive to succeed.
He credits relentless hard work — outworking smarter peers — as his primary asset over 15–20 years.

INSIGHT

Pivot From Apps To Ad Tech

AppLovin pivoted from building apps to solving mobile advertising discovery because existing mobile marketing was opaque and inefficient.
Foroughi saw early mobile traffic shifts and built programmatic performance marketing tooling to meet developer demand.

ADVICE

Keep Teams Lean To Preserve Speed

Surround yourself with A-player talent and keep the organization lean to avoid process bloat that kills speed.
Prevent dilution of top performers by resisting quota-driven hiring and preserving an entrepreneurial environment.

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AppLovin has redefined mobile technology and advertising, emerging as a global leader in helping developers grow their audiences. Adam Foroughi, co-founder and CEO of AppLovin, joins Dan Dees, co-head of Global Banking & Markets, to discuss AppLovin's founding story, the substantial growth of the business since their IPO in 2021, and how a commitment to efficiency, innovation, and continuous learning has powered AppLovin's rise from startup to market leader. This session was recorded at the Goldman Sachs Builders and Innovators Summit on October 16, 2025.

The opinions and views expressed herein are as of the date of publication, subject to change without notice, and may not necessarily reflect the institutional views of Goldman Sachs or its affiliates. The material provided is intended for informational purposes only, and does not constitute investment advice, a recommendation from any Goldman Sachs entity to take any particular action, or an offer or solicitation to purchase or sell any securities or financial products. This material may contain forward-looking statements. Past performance is not indicative of future results. Neither Goldman Sachs nor any of its affiliates make any representations or warranties, express or implied, as to the accuracy or completeness of the statements or information contained herein and disclaim any liability whatsoever for reliance on such information for any purpose. Each name of a third-party organization mentioned is the property of the company to which it relates, is used here strictly for informational and identification purposes only and is not used to imply any ownership or license rights between any such company and Goldman Sachs.

A transcript is provided for convenience and may differ from the original video or audio content. Goldman Sachs is not responsible for any errors in the transcript. This material should not be copied, distributed, published, or reproduced in whole or in part or disclosed by any recipient to any other person without the express written consent of Goldman Sachs.

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AppLovin's Adam Foroughi: The Power of a Startup Mindset

Immigrant Drive Fueled By Family Loss

Pivot From Apps To Ad Tech

Keep Teams Lean To Preserve Speed

AppLovin's Adam Foroughi: The Power of a Startup Mindset