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AppFolio Announces Pricing of Initial Public Offering

SANTA BARBARA, Calif., June 26, 2015 (GLOBE NEWSWIRE) -- AppFolio, Inc. (Nasdaq:APPF) today announced the pricing of its initial public offering of 6,200,000 shares of its Class A common stock at a price to the public of $12.00 per share. In addition, AppFolio has granted the underwriters a 30-day option to purchase up to an additional 930,000 shares of its Class A common stock to cover over-allotments, if any. The shares are expected to begin trading on the NASDAQ Global Market on June 26, 2015 under the ticker symbol "APPF."

Morgan Stanley & Co. LLC and Credit Suisse Securities (USA) LLC are acting as joint book-running managers for the offering. Pacific Crest Securities, a division of KeyBanc Capital Markets Inc., and William Blair & Company, L.L.C. are acting as co-managers for the offering.

A registration statement relating to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering is being made only by means of a prospectus. A copy of the final prospectus related to the offering may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; or Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, One Madison Avenue, New York, NY 10010, by telephone: 800-221-1037, or by email: newyork.prospectus@credit-suisse.com.

CONTACT: Investor Relations Contact Ida Kane, CFO ir@appfolio.com (805) 364-6093 Media Contact Aimee Miller, VP Marketing aimee.miller@appfolio.com 805-617-2108

Source:AppFolio, Inc.