Apple's new privacy changes are sparking a wave of mobile advertising consolidation. Experts say these 7 companies could be acquired next.

AppLovin, Vungle, and Digital Turbine have all made big bets on mobile adtech this year.

The mobile app and gaming space is red-hot with acquisitions and deals, sparking a whirl of chatter about the companies that could be acquired next.

Apple's upcoming privacy changes are expected to significantly limit how mobile ads are targeted and measured, which has led to a rush in deals in recent months as companies seek to build out their own mobile advertising and measurement capabilities in-house. The resurgence in adtech stocks, an uptick in M&A, and growth in time spent with phones and gaming apps during the pandemic are also prompting the flurry.

"There's a general frothiness related to privacy and covid," said Eric Seufert, an analyst and author of Mobile Dev Memo.

Mobile gaming giant AppLovin plans to go public next week in a initial public offering that could value the company at $30 billion. AppLovin recently acquired mobile measurement firm Adjust for a reported $1 billion. Elsewhere, mobile ad firm IronSource plans to go public via a SPAC that is valued at $11.1 billion. And Blackstone-backed Vungle bought GameRefinery and Algolift within six months of each other.

Publicly traded mobile media company Digital Turbine has been on an acquisition spree this year — acquiring mobile ad firms AdColony, Triapodi, and Fyber between February and March. Digital Turbine works with mobile carriers to pre-install apps on phones and sells ads within some of the apps.

"There are a handful of companies that have started to develop their own ecosystems — I would argue that Digital Turbine is one of them," said Matt Tubergen, executive vice president of corporate development at Digital Turbine. "We saw a big opportunity to do an ecosystem play similar to that of Apple and Google but around carriers."

Companies are also likely to rush deals through ahead of Apple's rolling out its App Tracking Transparency (or ATT) feature, Seufert said. He said he expects for the valuations of some mobile companies to get cut by 25% once Apple's feature is rolled out. Apple's privacy update is expected to come into effect any time in the coming days and weeks.

Jeff Coon, managing director at investment firm Progress Partners, said that he expects to see a high level of M&A activity in mobile ad platforms and contextual advertising companies that don't rely on third-party cookies to target ads.

Insider spoke with nine investors, executives, and experts to identify mobile advertising and analytics companies could be acquisition targets. The group of seven companies, listed below in alphabetical order, is speculative and not all of these companies are discussing deals.

Where we can, we have noted each company's funding to date.

Adikteev

Adikteev CEO Xavier Mariani.

Total funding: $14.2 million, according to Crunchbase

Adikteev is a French startup that focuses on retargeting — a technique where advertisers direct ads at people who have already visited their website or viewed their products. The company also helps publishers keep people using their apps and reduce churn, two of the biggest problems for mobile developers.

Publishers use Adikteev's tech to buy ads that target people who have left an app encouraging them to re-open an app and track metrics like the lifetime value of a user. Its clients include Amazon, TikTok, and Yelp.

Andrew Daniel, managing director at investment firm Digital Capital Advisors, signaled out Adikteev as a retargeting company that could be acquired. He said that Apple's changes will make retargeting harder, leading to a wave of consolidation that will limit the number of retargeting companies to a handful of firms.

Adikteev CEO Xavier Mariani said that the firm has been approached by a couple of buyers in recent months but is not looking for an acquirer.

In a post IDFA world, user retention is more strategic than ever, and the industry will look for solutions that will help be smarter in user acquisition [and] retain audiences among titles," he said.

Braze

Total funding: $175 million, according to Crunchbase

Without third-party cookies, privacy changes put more pressure on brands to collect first-party data like email through things like loyalty programs, and text-messaging programs that advertisers can use to target ads and messages.

Braze is one of a handful of big mobile marketing firms that sells software that organizes first-party data so that advertisers can coordinate and plan personalized mobile messages across apps, text messaging, and mobile messaging. Braze's revenue comes from subscriptions. Its subscription revenue increased 60% year-over-year during the first nine months of 2020, according to the company. In 2019, Braze hit more than $100 million in revenue.

Braze competes with large marketing tech firms like Adobe and Salesforce and has data-sharing and marketing automation deals with cloud giants Snowflake and Amazon Web Services.

Elgin Thompson, managing director of technology investment banking at JMP Securities, said that Braze's focus on first-party data puts the company in a better position to accommodate Apple's changes than other mobile ad firms.

"Folks like Braze are leaning towards an omnichannel solution because [people aren't] just using phones to make transactions — being able to coordinate and automate messages in a timely fashion is the big opportunity for brands today," he said.

Braze declined to comment.

Chartboost

Chartboost CEO Rich Izzo.

Total funding: $21 million, according to Crunchbase

Chartboost's technology helps app publishers create ad auctions where advertisers bid on prices to win ad slots. Chartboost's tools also help advertisers target specific audiences across apps. The company competes with the likes of Google, AdColony, and Unity Ads.

Apple's privacy changes will require users to opt-in to share data that's used to target ads, and Chartboost is part of a group called No IDFA No Problem that provides resources aimed at addressing concerns from mobile marketers and developers. "IDFA" refers to Apple's Identifier for Advertisers. The group is comprised of companies like Chartboost, Liftoff, Singular, and InMobi.

Two sources noted Chartboost as a potential target acquisition because of its sole focus as a mobile ad network. Its investors include Sequoia Capital and TransLink Capital.

Chartboost did not respond to a request for comment.

InMobi

InMobi CEO Naveen Tewari.

Total funding: $320.6 million, according to Crunchbase

InMobi is one of a few longtime mobile ad networks. It helps publishers sell ads on sites and apps, particularly mobile games, and it has more recently moved into video streaming. The company also sells a demand-side platform that advertisers use to buy mobile ads and a marketing cloud aimed at helping marketers analyze insights for campaigns.

The firm is India's first unicorn company backed by venture capital and is reportedly also eyeing an IPO that could value the firm at $15 billion, Bloomberg reported.

Progress Partners' Coon, said that while InMobi is rumored to go public, the firm is also an acquisition target itself because of its global business.

"They are at a large-enough scale that they could easily be a successful, publicly traded company but they're also a very attractive acquisition target as the dominant ad platform in APAC," Coon said.

InMobi declined to comment.

Kargo

Kargo CEO Harry Kargman.

Kargo is an 18-year-old mobile ad network that sells custom-designed mobile ads for publishers like The Hollywood Reporter and Food Network. In recent years, the firm has moved into programmatic advertising. It has not raised any money and acquired social adtech firm Rhombus last year.

Matt Barash, SVP of global publishing and platform partnerships at Zeotap and a former exec at AdColony, speculated that Apple's changes could make Kargo an attractive acquisition target as marketers put more of a focus on testing messages that resonate with people.

Chris Cunningham, an investor and founder of C2 Ventures, said that Kargo's scale and lack of funding makes it an attractive acquisition target.

"They're one of the few remaining independent, scaled businesses," he said.

Kargo founder and CEO Harry Kargman said that the company's first-quarter 2021 revenue grew 45% year-over-year.

"Kargo has been focused on the intersection of creative and premium content to drive results for clients," he said. "With the decline of cookies and user-level targeting, we are seeing an urgency from brands to transition to this approach to advertising."

Kochava

Kochava CEO Charles Manning.

Kochava is a 10-year-old mobile measurement firm that originally specialized in measuring Facebook ads but has since expanded to measuring a wider swath of in-app ads.

The firm, which has not raised any money, helps advertisers measure metrics that track if someone bought a product after seeing an ad for it in apps, websites, and streaming TV platforms. Kochava also sells identity and consent management products that help marketers pull together mobile data or plug web links into ads that drive people to specific pages to buy products.

The firm also has a growth arm that helps advertisers keep people in apps and reduce churn. Kochava has acquired a few adtech companies, including buying data firm Thalamus, which helps advertisers and publishers match data.

Seufert said that Kochava is one of a handful of mobile ad firms that could be targets because of its access to granular measurements that will get harder for marketers to access with Apple's changes.

But he said that CEO Charles Manning's ownership of the company means that Kochava may not be looking for buyers.

Manning agreed that his backing of the firm means that Kochava isn't rushed for an acquisition.

"As a bootstrapped company, Kochava has flown under the radar of many corp dev teams who rely on venture published metrics — that doesn't appear to the the case any longer," Manning said. "Being forced to sell because of a financial partner is not part of our operating framework."

Tapjoy

Tapjoy president and CEO Jeff Drobrick.

Total funding: $85.6 million, according to Crunchbase

Tapjoy was founded in 2007 and has long focused on powering ads within popular mobile games, created by developers like HeroCraft. Tapjoy's formats include full-page interstitial ads and native ads that offer in-game rewards to users who interact with the ads.

Several sources noted Tapjoy as a acquisition target for competing mobile gaming companies that are making big acquisitions, such as AppLovin or Vungle.

Digital Capital Advisors' Daniel noted that Tapjoy is smaller than its competitors and has gone through a restructuring aimed at growth.

Tapjoy president and CEO Jeff Drobrick said that Apple's upcoming privacy changes make it more important for developers to have third-party tools.

"The recent announcements give strong validation on the importance of software for monetization, user acquisition and analytics to help app developers realize growth," he said. "That's been Tapjoy's core focus for over a decade, and our approach has paid off: just last quarter we surpassed nearly 1.5 billion monthly active users."

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Corporate America Cuts Middle Management as Bosses Take On Triple the Workload

Amazon, Google, and major U.S. employers flatten hierarchies, leaving managers with far larger teams and employees with less direct support

Corporate America is undergoing a sweeping transformation as companies slash layers of middle management, reshaping the relationship between bosses and employees.

Large employers across sectors—including Amazon, Google, Intel, Citi, Bank of America, Estée Lauder, and UPS—have moved aggressively to flatten organizational hierarchies, citing efficiency and speed as primary goals.

According to research from Gartner, managers now oversee nearly three times as many employees as they did a decade ago.

In 2017, there was one manager for every five employees.

By 2023, that ratio had widened to one manager for every 15 employees, with evidence it is continuing to rise.

Google recently removed more than a third of its managers of small teams, while Intel eliminated half of its management layers.

Amazon told investors it is deliberately pushing toward larger teams, framing leaner oversight as a sign of strength rather than weakness.

Investors and boards increasingly view fewer managers as proof of corporate agility and resilience.

Companies argue that cutting bureaucracy allows them to remain competitive, particularly in fast-moving sectors such as technology, finance, and consumer goods.

Yet the shift has placed unprecedented pressure on surviving managers, many of whom now juggle responsibilities for dozens of direct reports while losing the ability to serve as mentors, career coaches, or daily supervisors.

Employees are noticing the difference.

Some say they must actively promote their own accomplishments to get recognition, while others feel less engaged.

A Gallup survey showed that fewer than half of U.S. employees now report knowing what is expected of them at work, down sharply since 2020.

“They cannot spend time with their employees, they cannot help develop their employees,” said one veteran human-resources leader, describing the risks of overstretched bosses.

The new model of management is being redefined.

At Bayer, for example, Vice President Lisa Perez now leads two dozen people and has delegated routine approvals to artificial-intelligence tools.

She reserves weekly “coaching hours” for career guidance rather than holding traditional one-on-one meetings.

At Axon, a security equipment company, executives cut their management ranks nearly in half, returning many former supervisors to individual contributor roles.

The company’s president, Josh Isner, argued the old structure slowed development, saying, “I want to keep pushing the envelope.

The best outcome is more speed and more autonomy.”

Not all managers are thriving under this model.

Some describe waking at dawn to handle workloads, struggling to maintain personal connections with employees, or relying on assistants and peers to fill gaps.

Others, however, say the flatter structures foster greater independence, with employees trusted to manage themselves unless major issues arise.

The reshaping of management is one of the most dramatic corporate shifts in decades.

While designed to eliminate bureaucracy and accelerate decision-making, it risks leaving managers overburdened and employees feeling unsupported.

Whether the new balance between efficiency and leadership will prove sustainable remains a pressing question for companies navigating today’s leaner workplace structures.

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Parents Sue OpenAI After Teen’s Death, Alleging ChatGPT Encouraged Suicide

Family claims chatbot bypassed safeguards and acted as 'suicide coach,' prompting wrongful death lawsuit

OpenAI is facing a wrongful death lawsuit after parents alleged that its chatbot, ChatGPT, played a direct role in their teenage son’s suicide by providing detailed guidance and encouragement.

Matt and Maria Raine filed the case in federal court, claiming that their 16-year-old son, Adam, died in April after ChatGPT-4o allegedly taught him to circumvent safety features and supplied instructions for self-harm.

According to the lawsuit, the chatbot went as far as drafting suicide notes and describing methods in romanticized terms, which the family argues effectively isolated Adam from real-world support.

The complaint asserts that ChatGPT failed to cut off conversations even after Adam disclosed attempts and shared images of injuries.

Logs revealed more than 650 daily messages, with over 200 flagged references to suicide.

Despite OpenAI’s safety protocols, the chatbot allegedly responded with validation, telling the teen that his choice was “symbolic” and offering “literary appreciation” for his suicide plan.

Adam’s parents discovered the exchanges only after his death.

His mother, Maria, said her son was treated like a “guinea pig” by technology designed for engagement rather than safety.

The family is seeking punitive damages, new safeguards requiring automatic conversation termination when self-harm is discussed, parental controls, and quarterly safety audits by an independent monitor.

OpenAI acknowledged the authenticity of the chat logs but said the excerpts do not reflect full context.

The company expressed condolences, noting that ChatGPT is designed to direct users to crisis helplines, though it admitted protections may weaken during prolonged interactions.

The case marks the first wrongful death lawsuit against OpenAI tied to a child’s suicide.

It underscores rising concerns over AI companion bots and their potential to encourage harmful behavior.

Similar cases have already pressured other chatbot providers to strengthen safeguards.

The Raines, meanwhile, have launched a foundation in Adam’s name to warn parents of the risks AI systems may pose to vulnerable teenagers.

If you or someone you know is struggling with suicidal thoughts, support is available through the Suicide Prevention Lifeline at 1-800-273-TALK (8255).

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Amazon Faces Lawsuit Over 'Buy' Label on Digital Streaming Content

China’s Qixi Festival Sees Marriage Registrations Surge and Flower Prices Soar Tenfold

TSA caught in 4K stealing

This store owner was being robbed, so he locked the criminals inside the store and called the police

US Appeals Court Rules Against Most Trump-Era Tariffs

Federal Circuit finds International Emergency Economic Powers Act does not authorize key tariffs; decision effective October 14 while appeal expected

A federal appeals court has ruled that most tariffs imposed under President Donald Trump’s administration through the International Emergency Economic Powers Act (IEEPA) are not permitted by law.

The decision, delivered unanimously by the full 11-judge panel of the Court of Appeals for the Federal Circuit, is unusual in scope and underscores the significance of the case.

Normally, cases are reviewed by a three-judge panel.

The ruling upholds a lower court’s finding that President Trump’s use of IEEPA to implement tariffs targeting fentanyl-related imports and broader reciprocal tariffs exceeded the statute’s limits.

The court determined that while the president holds some emergency trade powers, the authority to impose tariffs rests primarily with Congress except in narrowly defined circumstances.

The decision will take effect on October 14, though tariffs remain in place until that date.

The case was brought forward by five businesses and a coalition of Democratic state attorneys general, who argued that invoking IEEPA to address drug trafficking and trade imbalances did not constitute a national emergency under the law.

The court agreed, reinforcing that tariff powers are constitutionally tied to congressional authority.

Despite the ruling, the Trump administration has emphasized that IEEPA was chosen for its flexibility and speed, allowing immediate action to safeguard American economic and national security interests.

Supporters point to the substantial revenue generated — estimated at roughly $400 billion annually, with projections suggesting as much as $4 trillion over a decade — which has offset tax cuts and bolstered fiscal stability.

Even some lawmakers who opposed Trump politically have acknowledged the significant fiscal benefits of tariff revenues.

Legal experts anticipate the administration will petition the U.S. Supreme Court, either through a writ of certiorari or an emergency appeal, to reinstate the tariffs.

In the meantime, alternative legal pathways remain open to the president, including tariff authority under Sections 201 and 122, or direct congressional authorization.

The outcome carries international implications, particularly in ongoing trade negotiations with major partners such as China.

Analysts note that foreign governments will closely monitor how Washington responds to ensure clarity on the future of U.S. tariff policy.

While the court decision limits one avenue of presidential trade authority, President Trump retains multiple tools to pursue his longstanding objective of protecting American industry, securing fair trade, and confronting the inflow of dangerous drugs such as fentanyl.

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Vietnam Braces for Powerful Storms and Torrential Rains

Vietnam to Release Nearly 14,000 Prisoners on National Day

Vietnam Tourism Booms as Country Emerges as Global Hotspot

John McCain’s Former Captor Tran Trong Duyet Dies at 92

Carlsberg Expands Vietnam Brewery With $90 Million Upgrade

Vietnam Ends 13-Year Monopoly on Gold Trade

Vietnam Challenges China With Island-Building in South China Sea

Former U.S. Congressman and Vietnam War Hero Duke Cunningham Dies at 83

Vietnam’s Long Thanh International Airport Nears Completion

Amazon Commits $570 Million to Satellite Internet in Vietnam

U.S. Expands Probe Into Solar Imports From Asia

Laos Launches Southeast Asia’s Largest Wind Farm

Laos Names Ho Chi Minh Trail as Historical Heritage Site

Torrential Rain and Flooding Hit Laos

Minnesota Officials Urged to Act on Deportations to Laos

Cyclone Kajiki Batters Southeast Asia

Laos Expands Nutrition Program With Fortified Rice

Laos to Introduce Nationwide Digital ID Cards in 2025

Thai AirAsia to Open New Laos–Vietnam Route

Cambodia Requests Urgent Aid for Explosive Remnants Clearance

Thailand and Cambodia Seal Trade Deals With United States

Cambodia to Nominate Donald Trump for Nobel Peace Prize

Cambodia Fortifies Border as Tensions With Thailand Grow

Thai Military Accuses Cambodia of Planting Landmines at Border

Thai Prime Minister Paetongtarn Shinawatra Dismissed Over Cambodia Phone Call

Philippines Central Bank Projects Lower Inflation in August

Philippines Expands Marine Protections in Biodiversity Hotspot

Chiquita to Invest $30 Million in Panama Operations

Philippines, Allies Conduct Joint South China Sea Patrol

Philippines Raises Minimum Wage for Overseas Domestic Workers

Philippines Narrows Trade Deficit With Export Growth

Philippines Embraces Blockchain for Budget Transparency

Philippine Military Opens Strategic Base Near Taiwan

China Warns Philippines Over Taiwan Tensions

Philippines to Seek Lower U.S. Tariffs on Exports

Indonesia’s President Urges Calm Amid Escalating Protests

Germany’s Auto Industry Sheds 51,500 Jobs in First Half of 2025 Amid Deepening Crisis

German carmakers slash nearly 7% of workforce as profits slump, exports fall, and economic downturn compounds industry pressures

Germany’s automotive sector, one of the nation’s largest and most influential industries, is facing its sharpest downturn in years, with more than 51,000 jobs cut in the first half of 2025.

An analysis by audit firm EY, using data from the Federal Statistical Office (Destatis), found that the industry reduced its workforce by nearly 7%, eliminating approximately 51,500 positions between January and June.

Across the broader German economy, around 114,000 jobs were lost during the same period, meaning nearly half of all layoffs came from the auto sector.

Since 2019, the year before the Covid-19 pandemic, employment in the industry has declined by more than 112,000 positions.

EY described the job losses as unparalleled compared with other sectors, reflecting the severity of the crisis.

Jens Brorhilker, managing partner for audit at EY Germany, said collapsing profits, weak demand, and structural overcapacity have forced carmakers into sweeping cuts.

He warned that restructuring across Germany’s industrial base will likely prolong job losses.

The EY study reported that automotive revenues fell 1.6% year-on-year in the second quarter of 2025, while Volkswagen announced a steep decline in quarterly profits and lowered its full-year outlook.

Yet the sector’s contraction remained less severe than the 2.1% fall in overall German industry sales, suggesting that, despite mounting difficulties, carmakers continue to perform slightly better than the wider economy.

Three major pressures are weighing heavily on Germany’s automotive sector.

First, Chinese competition, particularly in the electric vehicle market, has intensified as German manufacturers struggle with regulatory hurdles that slow innovation.

Second, trade policy under U.S. President Donald Trump has reshaped global dynamics.

While tariffs have placed new costs on German exports, Trump’s firm stance has secured a recent U.S.–EU trade agreement setting car import duties at 15%, lower than expected, though contingent on reciprocal tariff reductions by the EU.

Third, Germany’s weak economy—having contracted in both 2023 and 2024, with GDP declining again in the second quarter of 2025—has compounded domestic and global demand challenges.

Exports of German cars and auto parts to the United States dropped 8.6% in the first half of 2025, while demand in China has also slowed.

Analysts warn that with exports to both major markets under pressure, the industry’s restructuring and job reductions are likely to continue.

The crisis underscores how central the automotive industry remains to Germany’s economic fortunes, while also highlighting the deep challenges of adapting to global competition, trade realignments, and technological transformation.

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Japan Canceled U.S. Visit as Trade Deal Implementation Encounters Technical Hurdles

Negotiations on a $550 billion investment-for-tariff relief package stall amid unresolved administrative issues and calls for clarifying executive orders

Japan’s top trade negotiator, Ryosei Akazawa, has postponed a scheduled trip to Washington originally intended to finalise the financial and technical details of a $550 billion investment package designed to secure tariff relief from the United States. The move reflects unresolved administrative questions that must be addressed before ministerial-level discussions can proceed .

Under a July agreement, Washington and Tokyo agreed to reduce U.S. tariffs on most Japanese goods to fifteen percent, down from earlier rates of twenty-five percent, in exchange for substantial Japanese investment via government-backed loans, guarantees, and a small portion of equity . For the auto sector, the levy was to drop from twenty-seven point five percent to fifteen percent, though no timeline has yet been established .

A central point of contention remains the so-called “stacking” issue, where the fifteen-percent rate could be layered on top of existing tariffs on certain products—such as beef—contradicting the spirit of the agreement. Japan is urging the U.S. to amend its presidential executive order to enact a “no-stacking” provision, replicating arrangements made with the European Union .

Chief Cabinet Secretary Yoshimasa Hayashi emphasised the urgency of amending the order and urged the U.S. to issue a formal order to reduce tariffs on automobiles and auto parts as soon as practical . Meanwhile, Commerce Secretary Howard Lutnick has indicated that an announcement on the investment package is expected imminently .

Japan’s exports registered the steepest monthly decline in four years in July, prompting a downward revision to its annual growth forecast—from 1.2 percent to 0.7 percent—which underscores the economic stakes of these trade discussions .

Talks are expected to continue at the administrative level, with Akazawa potentially rescheduling his Washington visit as early as next week once the outstanding issues are resolved .

— Key facts:

A $550 billion Japanese investment pledge hinges on securing tariff relief from the U.S.;
Tariff reductions to 15 percent for most Japanese goods, and for autos from 27.5 percent, remain unsigned; implementation stalled by unresolved detail;
Japan demands a clarified executive order from President Trump to ensure tariffs do not duplicate (no-stacking) and to formalise reductions on auto goods;
Economic pressure from falling exports and reduced growth projections increases urgency;
Negotiators remain in close contact and may resume travel once administrative-level discussions clear outstanding points.

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