AppLovin issued the following statement regarding the closure of Silicon Valley Bank by the California Department of Financial Protection and Innovation or CDFPI, and appointment of the Federal Deposit Insurance Corporation as receiver of SVB. AppLovin has over $1B in cash and cash equivalents with less than $2M at SVB as of March 10 and no SVB-related credit facilities. We expect to operate our business in the ordinary course and will continue to carefully monitor the situation.
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