Okapi

Turning over rocks to find winners 🪨 TMT, Games, Consumer.

[Okapi @Okapi_Digital]

@TheLAPurchaser @grok @gork

[Okapi @Okapi_Digital]

Surprised I don’t see more $7974 $Ntdoy shilling on here, is it a crowded long?

[Okapi @Okapi_Digital]

@Smooth189 Morgan & Morgan & Morgan & Morgan & Morgan

[Okapi @Okapi_Digital]

How I feel logging into Twitter for my quarterly $APP victory lap (thanks Adam I love you -- approaching +2,000% 😂)

I have to admit I finally sold ~20% of my position before the print... feeling stupid

[Okapi @Okapi_Digital]

Room to run

[Okapi @Okapi_Digital]

@JasonJh1319 I’d bet AppLovin is taking a 40-50% vig on these ecomm ads right now because it’s so easy.

If Unity manages to get their shit together (unlikely), AppLovin is just going to cut that vig and with their infinitely better targeting will still be a far better channel.

[Nehal - Scaling Brands To A Million A Month @NehalKazim]

Our @AppLovin results: outperforming Meta on CPA and AOV at $1k/day. Here's a screenshot with some data:

$14,940.34 spend
$27,091.29 attributable revenue in a standalone funnel
1.81% ROAS (considered above average attributed to an ad channel)
$180-$220 AOV (above average)
$16.93 eCPM
$0.49 eCPC
15-17% lift in sales by day 7
54% new visitor rate (based on @blotout_io data)

This brand spends over a million a month so this spend hasn't made a dent.
Goal is to see how it performs at $10k/day. Let's see!

[Okapi @Okapi_Digital]

@stephenolmon Merry Christmas to you and your family Stephen!

Here’s an older one:

[Okapi @Okapi_Digital]

@AppLovin is acquiring @mopub for $1bn.

🧵🧵🧵

Have been meaning to do a thread on why I am excited about $APP and will walk through this acquisition and my over-all thesis on the business below.

https://t.co/3q7myKWxfG

[Miranda Pettinger @mirandpettinger]

We’ve officially spent more on AppLovin MTD than Meta….

Y’all seriously need to get on this channel 📈💰

[Mehtab | Karta Ventures @MehtabKarta]

One of our brands will probably be spending ~30%+ of budgets on AppLovin by January. Kind of wild. I wonder how FB will respond.

[Aaron Nosbisch @AaronJNosbisch]

🍃🍄 November @drinkbrez | Month 19 📆

• $3,522,370.58 in Revenue (+16%) 🔔😮‍💨

• 13,544 New Customers 👀

• Meta, Google, Amazon, AppLovin, X, Snapchat, Email, Subscription, Retail, & WoM 💯

• Subscription: ~35% of Revenue 🫡

• Ad Spend: $1,260,022.37 💸

• bCAC: ~$40 | ~$96 AOV | 2.42 MER👌

• 81% DTC | 14% Retail | 5% Amazon ✔️

This month was all about getting BRĒZ into our customers’ hands for the holidays. BFCM was massive—our biggest ecomm weekend yet, with over $700k in sales (12x growth from last year).

Retail has soared, jumping from $331k to $478k+. Email and ad campaigns with the goal of turning online customers into retail shoppers have worked, with retail partners reporting customers coming in specifically for BRĒZ frequently, and often adding other products to their cart. Glad to say we haven’t seen this degrade our DTC efforts either. In fact, it’s only amplified them. The reality is our customers ultimately want convenient access to make us part of their lives, whether that’s in-store or DTC—and when combined, the synergy is incredible. Immense gratitude to @Brian_Dewey and our retail and distribution partners for making this a reality.

On the DTC front, we’ve continued to diversify channels, with @AppLovin, @Snapchat, and @X becoming key players. Less dependence on Meta is a win as we build a more balanced and resilient ecosystem.

In January, we’re launching a new SKU that adds versatility to the @drinkbrez experience. We’re doubling down on delivering fun and relief in ways that feel good without feeling worse.

November also brought major press moments—@GQMagazine, @Forbes, @NylonMag, @EsquireNetwork —cementing BRĒZ as a leader in the category, and we’re honored to be an ambassador this cultural shift.

On the advocacy front, we continue to collaborate with the U.S. Hemp Roundtable, Hemp Beverage Alliance, Cannabis Beverage Association, and CABA to push for fair regulations that ensure safety and access for consumers. Progress is real, and the alcohol and cannabis industries are now allies in many of these efforts.

We’re getting ~2,000 cans in hands weekly at everything from wellness festivals to cultural moments like the Paul vs. Tyson fight and Art Basel Miami, where we passed out 10,000 cans across 26 events. Moments like these—introducing people to BRĒZ and the category for the first time—are what it’s all about.

As we finish the year and head into Dry January, we’re focused on continuing this momentum and expanding what it means to connect, celebrate, and live with intention. @drinkbrez is more than a beverage—it’s part of a movement expanding how we enjoy life, creating space for joy, connection, and growth.

None of this happens alone. It takes a team, partners, and an entire category working together. We’re deeply grateful to be part of this movement and proud to help shape the future with a better beverage. ❤️‍🔥

[Nick Shackelford @iamshackelford]

We finished the month off spending about $219,000 on applovin (first month we were on it)

That’s half of what we spent on meta (500k)

That shit is very real and it’s going to be worth testing for a lot of brands.

Shheeeeshhhh 😮‍💨

[John Coyle @johnjhcoyle]

Just saw the first really compelling case for Applovin in the wild on a @triplewhale consulting call.

- Brand that is VERY good at Digitial advertising

- Applovin is the second largest channel behind Meta (and not far behind)

- Meta overall CPA is much better, but if you just look at new customer Applovin is actually getting a significantly better CPA.

P.s. I don’t get paid by Applovin — just trying to bring insights to the DTC community as I see them.

[Okapi @Okapi_Digital]

$APP not added to the S&P 500…

I hope they have fun staying Standard & POOR

[Okapi @Okapi_Digital]

@bizalmanac 34- I never thought of myself as a traveler until this 😂

🦅🦅🦅

[Okapi @Okapi_Digital]

@janjadesunga No

[Okapi @Okapi_Digital]

@janjadesunga The data they’ve gained via M&A and acquiring the whole Adtech stack gives them the data advantage.

I don’t even think there is meaningful “gen ai” here I think it��s more machine learning. Just auto-creating tons of segments (with better data than anyone driving those segments).

[Okapi @Okapi_Digital]

@janjadesunga Here is a longer explanation from a few years ago:

[Okapi @Okapi_Digital]

@AppLovin is acquiring @mopub for $1bn.

🧵🧵🧵

Have been meaning to do a thread on why I am excited about $APP and will walk through this acquisition and my over-all thesis on the business below.

https://t.co/3q7myKWxfG

[Okapi @Okapi_Digital]

@janjadesunga Much more detailed customer segmentation.

It’s not just AI - their acquisitions from the past few years garnered a huge data advantage over peers (MoPub).

Unity (biggest competitor) also bought ironSource (second biggest competitor) and the integration was a disaster.

[Jonathan Snow, DMD @drsnow]

5 TABLE STAKES ESSENTIALS APPLOVIN ($APP) STILL HAS NOT CAPITALIZED ON.... THAT SHOULD ONLY IMPROVE ECOM AD PERFORMANCE:

1️⃣ 3rd Party CAPI integration (Blotout, Elevar)

2️⃣ Shopify integration to allow for catalog ads/SKU data sync, as well as 1P data sharing (which APP still sorely lacks)

3️⃣ Audience segmentation & exclusions (prospecting, engaged, existing customer)

4️⃣ Self-serve ad platform

5️⃣ Diverse ad formats

The fact performance is this noteworthy, this early without even some of the basics being checked off is pretty encouraging to me.

[Okapi @Okapi_Digital]

Sellside $APP guys - someone write a note comparing time spend in FB’s apps to AppLovin’s network.

Calculate the TAM growth there is if ecomm really works as it looks like it is.

I promise you will generate a lot of calls.