Moloco Startup Diligence Report
Proceed only to confirmatory data-room diligence. Moloco could be a valuable independent AI adtech platform if its claimed revenue scale, profitability, first-party-data ML performance, customer retention and cloud-cost economics are real and durable against walled-garden/privacy competition.
Moloco Startup Diligence Report
Eligible to report: public evidence supports Moloco as an active private unicorn, with 2021 $1.5B Series C valuation and later 2023 secondary transactions valuing it at more than $2.0B; Nasdaq Private Market states it has not had an IPO and current 2026 company pages/case studies show active operations. The investability question remains unresolved because audited financials, cap table, customer concentration, contracts, pricing/margins and legal/security artifacts are not public.
Public revenue/profitability claims are useful but not audited diligence evidence; backlog, AR aging, gross margin, CAC, cloud COGS, cash and debt are private.
Diligence request: Request audited financials, monthly KPI pack, revenue-recognition memo, gross margin by product, cash/debt and forecast.
Public logos/case studies do not disclose current ARR, customer concentration, churn, NRR or severed relationships.
Diligence request: Request top-customer schedule, cohorts, references, lost customers and contract renewal calendar.
Moloco competes against dominant walled gardens, app networks and retail media incumbents while privacy and attribution rules evolve.
Diligence request: Perform win/loss analysis, platform-policy sensitivity, pricing benchmark and privacy-scenario stress test.
Latest public valuation is >$2B from secondary transactions that generated no primary proceeds; valuation support should be reconciled to current fundamentals.
Diligence request: Review secondary agreements, 409A, cap table, financing terms and current revenue multiple.
Security/compliance claims are public, but litigation, enforcement, data-processing agreements and incident history require counsel review.
Diligence request: Request counsel schedule, SOC/ISO evidence, regulatory correspondence, incident log, DPA/subprocessors and insurance.
Case studies show strong outcomes, but independent benchmarks and full campaign datasets were not reviewed.
Diligence request: Review raw experiment data, third-party measurement, fraud controls, model performance and customer references.
Google Cloud case suggests core infrastructure dependence; product value relies on lawful, high-quality first-party data.
Diligence request: Review cloud contracts, architecture resilience, data residency, model isolation and privacy controls.
Headcount reportedly grew from >200 in 2021 to >700 in 2026; attrition, functional mix and compensation are not public.
Diligence request: Request HRIS census, attrition, compensation/equity plans, employee-relations matters and management references.
Moloco passes unicorn eligibility with public valuation anchors of $1.5B in 2021 and >$2.0B in 2023 secondary transactions, and Nasdaq Private Market indicates it remains private/no IPO. Core financial quality remains high-priority data-room diligence.
partially verified confidence: medium
Public sources disclose headline 2021/2022 revenue and profitability claims but not audited financial statements, backlog, AR aging, product gross margin or management accounts.
| topic | public signal | verification status | priority request |
|---|---|---|---|
| Revenue scale | 2021 annual net revenue run-rate >$100M; 2022 revenue >$200M; revenue >5x from 2020 to 2022. | partially_verified | Audited financials, monthly revenue by product/geography, ARR/gross-vs-net revenue reconciliation. |
| Profitability and cash flow | Profitable 12 consecutive quarters in 2023; current page claims five years profitable, self-funded rapid growth and zero debt. | partially_verified | EBITDA, cash-flow statement, bank statements, debt schedule, cloud COGS and working-capital detail. |
| Forecast/backlog/AR aging | No public forecast, backlog, accounts receivable aging or pipeline conversion data found. | not_publicly_verifiable | Three-year forecast, bookings/backlog, pipeline conversion, AR aging and bad-debt reserve. |
| Unit economics | Product pages disclose outcome claims, not gross margin, CAC, payback, cloud cost, take rate or support cost. | not_publicly_verifiable | Gross margin by product, cloud spend by model/query, customer-acquisition payback and services/support margin. |
not publicly verifiable confidence: low
No public three-year forecast or scenario model was found. Market opportunity claims require support from bookings, pipeline and pricing assumptions.
partially verified confidence: medium
Public sources identify key financing events and private-company status, but shares, preferences, options, warrants, debt and secondary transfer details are not public.
| stakeholder or item | public position | verification status | diligence caveat |
|---|---|---|---|
| Fidelity Management & Research / EDBI | Became shareholders through 2023 secondary transactions. | verified | Request cap table, transfer agreements and any rights granted to new holders. |
| Korea Investment Partners | Series A investor that sold shares to Fidelity in 2023 secondary transaction. | verified | Request historic financing documents and remaining holdings. |
| Tiger Global / existing investors | Series C led by Tiger Global with existing investor participation. | verified | Request preference stack, anti-dilution, side letters and board rights. |
| Public trading / IPO status | Nasdaq Private Market says Moloco is private, has no ticker, no public stock price and has not had an IPO. | verified | Confirm no confidential IPO filing, acquisition agreement or post-access event. |
partially verified confidence: medium
Public financing history is well-supported for 2021 and 2023; tax positions, accounting policies and current basis for each round are not public.
| date | event | amount or valuation | investors or participants | diligence implication |
|---|---|---|---|---|
| 2021-04-29 | Series C financing | $150M raised; $1.5B valuation; $200M total raised to date | Led by Tiger Global; existing investors participated | Primary unicorn valuation anchor; request financing documents and liquidation preferences. |
| 2023-06-29 | Secondary stock transactions | More than $2.0B valuation; no primary proceeds | Fidelity Management & Research, EDBI, Korea Investment Partners seller | Latest reliable public valuation found; secondary price may not equal fully marketed primary valuation. |
| 2026-06-09 | CB Insights screen supplied by user | $1.50B CB Insights row; date joined 2021-04-29 | Smilegate Investment, DSC Investments, KTB Ventures selected investors | Stale relative to 2023 >$2B public secondary; reconcile database screen with latest financing records. |
Latest reliable public valuation identified is >$2.0B from 2023 secondary transactions.
Moloco’s public product suite spans app performance, commerce media, SDK monetization, CTV and streaming monetization. Public evidence supports product existence and positioning; pricing, margins, benchmarks and roadmap details are private.
partially verified confidence: medium
Product pages and docs document a broad AI ad platform. The highest diligence need is independent proof of model performance, pricing and product-level profitability.
| product | target customer | public claimed capabilities | verification status | evidence |
|---|---|---|---|---|
| Moloco Ads | Mobile app marketers and performance advertisers | AI-driven user acquisition and re-engagement across 2B+ daily active users and 3M apps. | partially_verified | Product page; customer proof requires campaign data. |
| Moloco Commerce Media | Retailers, marketplaces and digital aggregators | Sponsored Product, Sponsored Display and Sponsored Brands formats using first-party events, ML, auction engine and APIs. | partially_verified | Product page and MCM docs. |
| Moloco Streaming Monetization | Streaming/OTT content owners | Outcome-optimized ad stack to grow advertiser base, ad relevance and operations. | partially_verified | Product page. |
| Moloco SDK | App publishers | Direct SDK connection to premium advertisers, mediation integrations and brand-safe monetization. | partially_verified | SDK page and SDK case studies. |
| Moloco Performance CTV | App advertisers using connected TV | Household-level predicted conversion bidding, MMP attribution and ghost-bidding incrementality. | partially_verified | CTV page and Nexon case study. |
| area | public status | risk or question | diligence request |
|---|---|---|---|
| Rate card / platform fees | No public rate card located; products route users to contact or sign-up flows. | Discounting, take rates and minimum commitments could vary widely. | Standard order forms, rate cards, discount waterfall and realized take rate by product. |
| Cloud/model COGS | Google Cloud dependency and bid volume are public; costs are not. | 600B daily bid requests may imply material compute/data cost sensitivity. | Cloud contracts, committed-use discounts, unit-cost trend and gross margin bridge. |
| Outcome guarantees / SLAs | Case studies show performance claims; contract commitments are private. | Penalty, makegood or minimum ROAS terms could affect margins. | MSA/SOW templates, SLA history, credit memos and customer support tickets. |
Public evidence shows named customers, partnerships and infrastructure providers, but the diligence-critical customer schedule, concentration, retention and supplier spend remain private.
partially verified confidence: medium
Public case studies cover app gaming, food delivery, CTV/gaming and SDK monetization, but are selected company-published examples.
| customer | product or use case | public metric or quote | verification status | diligence gap |
|---|---|---|---|---|
| EAGLE | Moloco SDK / Piggy Clicker user acquisition and monetization | 39% eCPM lift; UA from 941 to about 56,000 in Jan. 2026; target ROAS maintained. | partially_verified | Validate cohort economics, campaign spend and contract status. |
| Demaecan | Commerce Media / Order Boost Ads | Clicks 2.7x, orders 3.3x, CTR 4%, CVR 11%, ad revenue 2.3x, ROAS >1,000%. | partially_verified | Request merchant adoption, platform revenue and data-processing terms. |
| Nexon | Performance CTV incrementality | Up to 3x higher incremental new-user sign-up lift; 1.6x returning-user lift. | partially_verified | Review experiment design, control contamination, spend and attribution. |
| Wildlife Studios | Moloco SDK ad monetization | Average 13% ad ARPDAU growth; Moloco share of wallet from 2% to 8.5%. | partially_verified | Validate portfolio scope, renewal status and partner concentration. |
| Playrix / Fetch / Bumble / DraftKings and other logos | Logos on about/product pages | Public logo proof without disclosed current revenue or contract status. | partially_verified | Request top-customer ARR and reference calls. |
verified confidence: medium
Topsort, Skai and Google Cloud are material public relationships, but economics and obligations are private.
| partner | nature | public evidence | gap or risk |
|---|---|---|---|
| Topsort | Strategic investment and ML engine partnership | Moloco to power Topsort retail media infrastructure and make a financial investment. | Investment size, exclusivity terms, revenue share and customer conversion undisclosed. |
| Skai | Retail media advertiser access partnership | Skai integrated with Moloco inventory; exposes retailers to Skai network of 8,000 advertisers. | Actual spend, margin and integration dependencies need validation. |
| Google Cloud | Cloud infrastructure provider and customer-story partner | Moloco built on Google Cloud since inception and uses BigQuery/Bigtable. | Single-cloud concentration, committed-spend obligations and data-residency controls. |
not publicly verifiable confidence: low
No public revenue-by-customer information was found.
not publicly verifiable confidence: low
No public lost-customer or severed-partner schedule was found.
partially verified confidence: medium
Google Cloud is the most visible infrastructure supplier; supply/inventory and data dependencies are critical but mostly private.
| supplier or dependency | role | public evidence | concentration risk | diligence request |
|---|---|---|---|---|
| Google Cloud | Core cloud/data infrastructure | Built on Google Cloud since inception; BigQuery and Bigtable cited; 600B bid requests daily. | High if workloads are deeply optimized for GCP-specific services. | Cloud spend, SLAs, regions, failover design, committed-use obligations and exit plan. |
| Mobile app / CTV / retail inventory ecosystem | Supply for ad delivery and performance | Moloco Ads claims 3M apps and streaming/commerce products rely on partner inventory. | Unknown publisher/platform concentration and traffic-quality risk. | Top publishers/exchanges, fraud metrics, supply agreements and quality controls. |
| Customer first-party data pipelines | Input to ML models and personalization | MCM docs and streaming page describe first-party data use; streaming page says separate customer data pipelines. | Data-rights and privacy constraints could impair model performance. | DPA, consent flow, data mapping, retention, deletion and model-isolation evidence. |
Moloco competes in a high-pressure adtech market dominated by walled gardens and rising specialist networks. Public evidence supports market intensity; win/loss and pricing power are private.
verified confidence: high
AppsFlyer and Moloco sources show competition from dominant mobile media sources, app networks, retail media stacks and CTV ad platforms.
| competitor or segment | segment overlap | public evidence | Moloco differentiator | risk |
|---|---|---|---|---|
| Google Ads / Apple Ads | Dominant app/mobile user acquisition platforms | AppsFlyer says Google Ads and Apple Ads held #1 Android/iOS rankings in 2025. | Independent app ecosystem, transparency and first-party-data outcome optimization. | Walled-garden scale and measurement advantages. |
| AppLovin / Mintegral / Meta / TikTok | Mobile performance networks and app-marketing spend | AppsFlyer says AppLovin, Mintegral, Meta and TikTok gained strength across categories. | ML platform across app, commerce, streaming and SDK products. | Rising networks pressure pricing and publisher access. |
| Retail media stacks such as Amazon Ads, Walmart Connect, Criteo and Skai ecosystem | Commerce media networks and tools | Skai release lists major retail media networks and partner ecosystem; Moloco powers retail media for customers such as Wayfair, StockX and Yogiyo per company claim. | ML-first retailer/marketplace platform and Topsort partnership. | Retailers may multi-home or prefer incumbent networks. |
| CTV/streaming ad stacks and DSPs | Streaming monetization and performance CTV | Moloco product pages and Nexon case support CTV/streaming product push. | Performance optimization and ghost-bidding incrementality claims. | CTV measurement and inventory quality are contested. |
| axis | Moloco public position | top competitor position | evidence strength | diligence focus |
|---|---|---|---|---|
| Scale and reach | 2B+ DAU, 3M apps and 600B bid requests/day claimed across sources. | AppsFlyer says Google/Apple remain top mobile media sources and budgets concentrate at top. | medium | Validate active reach, fraud-adjusted supply, spend and overlap with competitors. |
| AI/model performance | 20+ deep neural networks and ML-first positioning; case studies show selected outcomes. | Large platforms operate proprietary AI/measurement systems with first-party data. | medium | Independent benchmark, uplift tests, model monitoring and data-quality review. |
| Privacy and first-party data | Products emphasize first-party data and security certifications. | Privacy restrictions and platform policies affect all independent adtech. | medium | Review consent, DPA, data minimization, regulatory history and platform-policy changes. |
| Pricing / monetization economics | No public pricing; cases imply performance outcomes. | Competitors may compete on take rate, bundled inventory and measurement. | low | Discount waterfall, gross margin and customer-level ROI proof. |
Moloco uses direct enterprise sales, developer/API entry points, customer proof and partner channels. Public evidence does not disclose sales productivity, CAC, pipeline or budget sufficiency.
partially verified confidence: medium
Public GTM includes product pages, case studies, partner releases and developer docs. Sales process economics are private.
| channel or motion | target segment | public signal | gap |
|---|---|---|---|
| Direct enterprise sales / contact-us | Retailers, marketplaces, streaming providers and large app marketers | Product pages route to contact us / get started; high-touch implementation implied. | Sales cycle, quota, CAC, win rate and implementation effort not public. |
| Developer/API onboarding | Moloco Ads and Commerce Media technical users | API docs require Moloco account, API key, 16-hour token and TLS 1.2. | Self-serve adoption, developer conversion and support burden not public. |
| Partner/channel expansion | Retail media advertisers and partner ecosystems | Skai partnership exposes retailers to 8,000 advertisers; Topsort partnership expands retail media infrastructure. | Partner-sourced bookings and channel margins unknown. |
| signal | source | public evidence | diligence implication |
|---|---|---|---|
| Scale narrative | About and Ads pages | 2B+ annualized ad spend, 125k advertisers, 2B+ DAU and 3M apps claimed. | Powerful positioning but metric definitions require normalization. |
| Customer proof | Case studies and logos | EAGLE, Demaecan, Nexon and Wildlife studies; Playrix/Fetch/Bumble/DraftKings logos. | Supports GTM credibility; not proof of concentration, retention or ARR. |
| Thought-leadership market framing | About page and AppsFlyer | Moloco frames big-tech concentration and privacy changes as a reason for independent AI ad tools. | Market tailwind claim must be tested against competitive and privacy headwinds. |
partially verified confidence: medium
Public major-customer evidence consists of selected logos and case studies; pipeline and relationship trends are private.
partially verified confidence: medium
Moloco’s public avenues include direct enterprise demand, developer/API access, case-study marketing and partner networks like Skai/Topsort.
not publicly verifiable confidence: low
No public quota, compensation, attainment or sales-cycle model was found.
| area | public status | why it matters | request |
|---|---|---|---|
| Quota and sales-cycle productivity | Not public | Enterprise adtech implementation can require long sales cycles and technical onboarding. | Rep roster, quotas, attainment, pipeline aging, sales cycle, CAC and implementation conversion. |
| Major customer trends and pipeline | Selected public case studies only | Concentration, renewals and expansion determine revenue predictability. | Top-25 customer ARR, renewal dates, NRR, churn, upsell pipeline and severed relationships. |
| Marketing budget sufficiency | No budget disclosed | Competing against Google/Apple/AppLovin/Meta/TikTok may require significant sales and brand spend. | GTM budget, CAC payback, channel ROI and competitive win/loss. |
not publicly verifiable confidence: low
Budget sufficiency cannot be assessed from public sources.
Moloco’s R&D evidence centers on founder ML pedigree, engineering density, Google Cloud-backed model scale and active product expansion. Detailed roadmap, model governance and R&D cost are private.
partially verified confidence: medium
Public sources indicate ML-heavy origins, engineering density and Google Cloud-backed scale, but current R&D org, budget and model governance are private.
| person or group | role or signal | public evidence | diligence request |
|---|---|---|---|
| Ikkjin Ahn | CEO/co-founder; early YouTube/Google ML engineer | Series C release says he was an early YouTube ML engineer and built data/ML infrastructure at YouTube and Android. | Founder references, invention assignment, technical decision rights and succession plan. |
| Engineering and data science organization | More than 60% of >200 employees in engineering/data science in 2021 | Series C release provides 2021 engineering density. | Current functional headcount, model ops org, attrition and hiring plan. |
| Bill Michels / RMP team | GM of RMP quoted in Google Cloud customer story | Google Cloud case discusses RMP buildout on Google Cloud. | RMP roadmap, org capacity and customer support/service dependency. |
partially verified confidence: medium
MCM, streaming and CTV are the clearest public product expansion lines; public sources do not disclose delivery dates, R&D cost or risk.
| project or area | status publicly described | public evidence | verification status | diligence request |
|---|---|---|---|---|
| Retail Media Platform / Commerce Media | Beta in 2021; mature current MCM docs/product pages and partner releases in 2024-2025. | Series C said RMP beta; MCM docs describe current ad formats and APIs. | partially_verified | Roadmap, customer implementations, gross margin and support backlog. |
| Streaming Monetization / Performance CTV | Current product pages and Nexon case study indicate active push into CTV/streaming. | Streaming and CTV pages plus Nexon case. | partially_verified | Pipeline, active customers, inventory rights and measurement methodology. |
| ML platform scale and model operations | Google Cloud says 20+ deep neural models and 600B bid requests/day. | Google Cloud customer story. | verified | Model monitoring, latency/SLO, bias/fairness/privacy reviews, incident history. |
Moloco has public leadership and headcount signals, including founder ML pedigree and >700 employees, but complete org, compensation, equity and turnover data are private.
partially verified confidence: medium
Only a limited public org chart can be inferred from named executives in public sources.
Reporting lines are inferred for visualization and must be verified.
partially verified confidence: medium
Public headcount anchors show rapid growth, but current function/location distribution and projected hiring are private.
| period | headcount or offices | function or location signal | verification status | diligence request |
|---|---|---|---|---|
| 2021-04 | More than 200 employees in eight offices | More than 60% of team in engineering and data science. | verified | Historical HRIS by function/location and attrition. |
| 2023-06 | Offices in US, UK, Germany, Korea, China, India, Japan and Singapore | Global operating footprint. | verified | Legal-entity employment, PEO/EOR use, payroll compliance and remote-work policy. |
| 2026-06 | More than 700 employees from more than a dozen offices | Current about page global headcount claim. | partially_verified | Current employee census, open roles, compensation bands and retention plan. |
verified confidence: medium
Public sources provide partial biographies/roles for several leaders; full biographies and references are not public.
| name | role | public background or context | source | diligence follow up |
|---|---|---|---|---|
| Ikkjin Ahn | CEO and co-founder | Early YouTube ML engineer; built data/ML infrastructure at YouTube and Android per Series C release. | Moloco 2021 release | Founder references, board materials and succession/retention terms. |
| Brandon Maultasch | CFO | Quoted as CFO in 2024 Topsort strategic partnership release. | BusinessWire Topsort release | Finance org depth, IPO readiness, controls and reporting cadence. |
| Pat Copeland | General Manager, Moloco Commerce Media | Quoted in 2025 Skai partnership release. | Moloco Skai release | MCM P&L, partner/channel strategy and customer references. |
| Bill Michels | GM of RMP / Retail Media Platform | Quoted in Google Cloud case study about RMP and infrastructure. | Google Cloud | Clarify current role/tenure and RMP org ownership. |
not publicly verifiable confidence: low
No public compensation or benefit-plan disclosure was found.
| topic | public status | risk | priority request |
|---|---|---|---|
| Compensation and benefits | Not public | Global hiring in competitive ML/adtech markets could pressure margins. | Comp bands, benefit plans, bonus/commission plans and retention grants. |
| Equity/incentive stock plans | Not public; private-company status confirmed. | Secondary liquidity and option pool may affect retention and dilution. | Option plan, grants by employee, exercise prices, refresh policy and tender/secondary history. |
| Turnover and employee-relations problems | No public turnover schedule or employee-relations records reviewed. | Rapid scaling from >200 to >700 employees may create management and culture risk. | Monthly attrition, regretted attrition, employee relations claims and engagement survey trends. |
not publicly verifiable confidence: low
Incentive stock plan details are not public; secondary-market status increases importance of equity diligence.
not publicly verifiable confidence: low
No public employee-relations problems were identified in reviewed sources, but no HR/legal records were available.
not publicly verifiable confidence: low
Personnel turnover data for the last two years is not public.
Public legal diligence found security/compliance claims, website terms and limited litigation search signals. Full legal, privacy, IP, contracts, insurance and regulatory schedules are not public and require counsel-led diligence.
inconclusive confidence: low
CourtListener opinion search returned count 0, but no comprehensive docket search was completed.
| category | public finding | verification status | request |
|---|---|---|---|
| Pending lawsuits against Moloco | CourtListener opinion search for "Moloco, Inc." returned count 0; no comprehensive docket search completed. | inconclusive | Counsel litigation schedule; PACER/state/foreign docket searches; threatened claims. |
| Lawsuits initiated by Moloco | No public initiated-lawsuit schedule located in reviewed sources. | not_publicly_verifiable | Company-initiated litigation, collection matters, IP enforcement and arbitration schedule. |
| Regulatory/agency actions | No enforcement action found in reviewed public sources; security/privacy pages indicate regulated data posture. | inconclusive | Privacy/regulatory inquiry log, consent decrees, breach notifications and agency correspondence. |
not publicly verifiable confidence: low
No public initiated-lawsuit schedule was found.
inconclusive confidence: low
As a software/adtech company, no material public environmental/safety issue was found; workplace and global employment compliance remain private.
partially verified confidence: medium
Website IP terms are public, but formal patent/trademark, OSS, data/model-license and invention assignment diligence was not completed.
| area | public evidence | verification status | diligence request |
|---|---|---|---|
| Website/IP ownership and trademark/copyright terms | Terms reserve Moloco/licensor rights in website content and note copyright/trademark protections. | verified | Full patent/trademark schedule, open-source scan, invention assignments and license encumbrances. |
| Security certifications and privacy frameworks | Security page claims SOC 2, ISO 27001, GDPR, CCPA and CSA STAR Level 1; developer docs require TLS 1.2/API controls. | partially_verified | SOC 2 Type II, ISO certificate, CSA STAR entry, DPAs, subprocessors and incident history. |
| Data rights and first-party data use | MCM and streaming pages describe first-party data and separate data pipelines. | partially_verified | Consent flows, data retention/deletion, model isolation, cross-customer leakage controls and privacy impact assessments. |
not publicly verifiable confidence: low
Insurance coverage is not public.
not publicly verifiable confidence: low
Material contracts are not public; public partner/customer announcements identify contracts requiring review.
| topic | public status | why it matters | request |
|---|---|---|---|
| Material customer and partner contracts | Not public; only product pages/partnership announcements reviewed. | Revenue share, data rights, SLAs, indemnities and exclusivity could materially affect valuation. | Top customer MSAs/SOWs, partner agreements, Topsort/Skai terms and standard DPA. |
| Insurance and material exposures | Not public | Adtech/privacy/security claims require cyber, E&O, D&O and media liability coverage. | Insurance schedule, claims history and broker letters. |
| Environmental and employee safety | No material public environmental/safety information found for software/adtech operations. | Global offices still require workplace, tax, labor and remote-work compliance. | Office leases, safety policies, workers compensation and local compliance attestations. |
partially verified confidence: medium
No public regulatory enforcement action was found; public security/privacy claims require direct verification.
| ID | Claim | Status | Sources |
|---|---|---|---|
| EC-001 | User-provided CB Insights row listed MOLOCO as a U.S. Enterprise Tech unicorn valued at $1.50B, joined 2021-04-29, located in Redwood City, with Smilegate Investment, DSC Investments and KTB Ventures as selected investors. | partially verified medium | SRC-001 |
| EC-002 | Moloco announced a $150M Series C led by Tiger Global, $200M raised to date, $1.5B valuation, more than $100M annual net revenue run-rate, and more than 100% annual growth. | verified high | SRC-002 |
| EC-003 | Moloco’s 2023 secondary stock transactions with Fidelity and EDBI valued the company at more than $2.0B, but Moloco received no primary proceeds. | verified high | SRC-003SRC-004SRC-005 |
| EC-004 | Moloco publicly claimed 2020-2022 revenue grew more than 5x, 2022 revenue exceeded $200M, and the company had been profitable for 12 consecutive quarters. | partially verified medium | SRC-003SRC-004 |
| EC-005 | Moloco’s current about page describes a 2013-founded AI advertising company with three main markets, $2B+ annualized ad spend, 125,000+ advertisers, more than 700 employees, more than a dozen offices, five years profitable, zero debt, and less than 1% TAM penetration. | partially verified medium | SRC-006 |
| EC-006 | Moloco Ads targets app marketers with an AI platform claiming access to 2B+ daily active users across 3M trusted apps, ROAS/CPA optimization, user acquisition, re-engagement, transparency and measurement. | partially verified medium | SRC-007 |
| EC-007 | Moloco Commerce Media is positioned as a retailer/marketplace sponsored-ads platform with ML ingestion of first-party events, real-time personalized ad experiences, auction engines and Sponsored Product/Display/Brands formats. | partially verified medium | SRC-008SRC-009 |
| EC-008 | Moloco’s product set also includes Streaming Monetization, Performance CTV and SDK/app monetization, each claiming AI/outcome-oriented monetization or user-acquisition capabilities. | partially verified medium | SRC-011SRC-012SRC-013 |
| EC-009 | Moloco has public customer/logo and case-study evidence across app, SDK, commerce media and CTV segments, but public logos do not disclose revenue concentration or renewal status. | partially verified medium | SRC-006SRC-014SRC-015SRC-016SRC-017SRC-018 |
| EC-010 | EAGLE case study claims Moloco SDK increased Piggy Clicker eCPM by 39%, grew Moloco-driven new user acquisitions from 941 to about 56,000 in January 2026, and maintained target ROAS. | partially verified medium | SRC-015 |
| EC-011 | Demaecan case study claims Moloco Commerce Media drove clicks up 2.7x, orders up 3.3x, CTR 4%, CVR 11%, ad revenue up 2.3x and average ROAS above 1,000%. | partially verified medium | SRC-016 |
| EC-012 | Nexon case study claims Moloco Performance CTV produced up to 3x higher incremental lift in new-user sign-ups and 1.6x higher returning-user lift versus attribution-based results. | partially verified medium | SRC-017 |
| EC-013 | Wildlife Studios case study claims Moloco SDK boosted ad ARPDAU by 13% and grew share of wallet from 2% to 8.5% between September 2025 and March 2026. | partially verified medium | SRC-018 |
| EC-014 | Google Cloud says Moloco has been built on Google Cloud since inception, supports more than 35,000 advertisers with RMP, uses 20+ deep neural network models, processes around 600B bid requests daily, and relies on BigQuery and Bigtable. | verified high | SRC-019 |
| EC-015 | Moloco announced a 2024 strategic investment in Topsort and that Moloco would be the ML engine powering Topsort’s retail media infrastructure. | verified medium | SRC-020 |
| EC-016 | Moloco and Skai announced a 2025 partnership giving Skai advertisers access to Moloco-powered retail media; Moloco said MCM powers retail media success for over 125,000 advertisers globally, including Wayfair, StockX and Yogiyo. | partially verified medium | SRC-021 |
| EC-017 | AppsFlyer’s 2025 Performance Index shows mobile advertising remains highly competitive and concentrated among Google, Apple, AppLovin, Meta, TikTok, Mintegral and others. | verified high | SRC-022 |
| EC-018 | Public sources identify key Moloco leaders including CEO/co-founder Ikkjin Ahn, CFO Brandon Maultasch, GM Bill Michels and GM Pat Copeland. | verified medium | SRC-002SRC-003SRC-019SRC-020SRC-021 |
| EC-019 | Moloco disclosed more than 200 employees and eight offices in 2021; current about page claims more than 700 employees and more than a dozen offices globally. | verified medium | SRC-002SRC-006 |
| EC-020 | Moloco says its security program is aligned with recognized frameworks, uses third-party assessments, and is compliant with SOC 2, ISO 27001 and GDPR, with CCPA and CSA STAR Level 1 displayed; API docs require TLS 1.2 and expiring access tokens. | partially verified medium | SRC-010SRC-025 |
| EC-021 | Moloco terms reserve website intellectual-property rights, set California/Northern District of California forum, include DMCA policy reference, and state product/service use is governed by separate agreements. | verified medium | SRC-024 |
| EC-022 | CourtListener opinion search for "Moloco, Inc." returned count 0 in this session. | verified medium | SRC-023 |
| EC-023 | No comprehensive public record was found confirming pending lawsuits initiated by or against Moloco; legal status remains not publicly verifiable without docket searches and counsel schedule. | not publicly verifiable low | SRC-023SRC-026 |
| EC-024 | Audited financial statements, management accounts, backlog, AR aging, detailed forecast, gross margin, cloud costs, cap table, debt and secondary transfer terms are not publicly disclosed. | not publicly verifiable high | SRC-001SRC-002SRC-003SRC-004SRC-005SRC-006SRC-027 |
| EC-025 | Moloco product pricing, realized discounting, gross margin by product and customer contract terms are not publicly disclosed in the reviewed sources. | not publicly verifiable medium | SRC-007SRC-008SRC-009SRC-011SRC-012SRC-013 |
| EC-026 | Top-customer revenue concentration, NRR, churn, current customer status, severed relationships and supplier spend are not public despite public logos and case studies. | not publicly verifiable high | SRC-014SRC-015SRC-016SRC-017SRC-018SRC-021 |
| EC-027 | Moloco faces structural adtech risks from platform concentration, privacy changes, attribution uncertainty and large competing media networks. | verified high | SRC-002SRC-006SRC-022 |
| EC-028 | Patent/trademark ownership was not fully verified; public terms reserve website IP, and public IP profile pages were discovered but not exhaustively reviewed due access/rate limits. | not publicly verifiable low | SRC-024SRC-026 |
| EC-029 | Nasdaq Private Market states Moloco is privately held, not traded on public exchanges, has no public stock price, no ticker symbol and has not had an IPO. | verified high | SRC-027 |
| EC-030 | Moloco had an active public website, current product pages and 2026 case studies at the access date, supporting operating status and contradicting shutdown concerns. | verified high | SRC-006SRC-007SRC-014SRC-015SRC-016SRC-017SRC-018 |
This report is a public-evidence diligence snapshot, not investment advice. Important financial, legal, technical, and contractual facts remain non-public and should be verified directly with management and primary documents before any investment decision.