Mobile technology company AppLovin has made a bid for TikTok and talked to casino magnate Steve Wynn about backing it, according to people familiar with the matter, joining a flurry of suitors for the video-sharing app.

AppLovin (APP), a mobile marketing and gaming company, has unexpectedly emerged as a bidder for TikTok. According to CNBC‘s David Faber, citing

Meanwhile, a separate group led by OnlyFans founder Tim Stokely is also said to be exploring a bid, underscoring the fierce competition to take over TikTok’s global business. AppLovin’s announcement comes during a turbulent time for the company. According to Benzinga Pro, APP stock has lost over 19% in the past year.

On Friday, the host of Mad Money opened the show highlighting a new AI company’s IPO. During the discussion, Cramer shared his thoughts on what seemed like an underwhelming IPO and what this indicates about data center demand, as well as additional macro factors that are pushing the stock market lower in recent weeks:

AppLovin presents a high risk/reward opportunity, trading at 36x 2025 earnings with expected 46% growth. Click here to find out why I rate APP stock a Buy.

Amazon and AppLovin reportedly submitted bids to acquire TikTok, ahead of a U.S. ban set to go into effect Saturday if no deal is reached with the app's Chinese parent company.

AppLovin Corporation’s APP share price has dipped by 16.26%, which has investors questioning if this is right time to buy.

AppLovin has outperformed competitors like Unity and large tech firms by capturing significant market share in the mobile app ad space. Learn more on APP stock here.

However, despite exceptional growth, shares of the two industry leaders have been highly volatile at the start of 2025 amid the broader stock market correction. AppLovin shares are down 45% from their 52-week high, while The Trade Desk stock is down by 53% year to date.