FORM 4
[ X ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

STAD MARC 		2. Issuer Name and Ticker or Trading Symbol

APPFOLIO INC [ APPF ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      __ X __ 10% Owner
_____ Officer (give title below)      _____ Other (specify below)
(Last)          (First)          (Middle)

ONE LETTERMAN DRIVE, BUILDING D, SUITE M500 		3. Date of Earliest Transaction (MM/DD/YYYY)

8/9/2017
(Street)

SAN FRANCISCO, CA 94129
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

___ Form filed by One Reporting Person
_ X _ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Class A Common Stock   8/9/2017     C    31210   A $0.00   (1) 73153   D    
Class A Common Stock   8/9/2017     C    447794   A $0.00   (2) 1509732   I   (3) (4) Refer to Footnote   (3) (4)
Class A Common Stock   8/9/2017     S    1155   D $36.70   71998   D    
Class A Common Stock   8/9/2017     S    23845   D $36.70   1485887   I   (3) (5) Refer to Footnote   (3) (5)
Class A Common Stock   8/9/2017     S    1072   D $36.80   70926   D    
Class A Common Stock   8/9/2017     S    22128   D $36.80   1463759   I   (3) (5) Refer to Footnote   (3) (5)
Class A Common Stock   8/10/2017     S    6933   D $36.00   63993   D    
Class A Common Stock   8/10/2017     S    143067   D $36.00   1320692   I   (3) (5) Refer to Footnote   (3) (5)

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Class B Common Stock     (1) 8/9/2017     C         31210      (1) (6)   (1) (6) Class B Common Stock   31210   $0.00   0   D    
Class B Common Stock     (2) 8/9/2017     C         447794      (2) (6)   (2) (6) Class B Common Stock   447794   $0.00   0   I   (3) (4) Refer to Footnote   (3) (4)

Explanation of Responses:
(1)  Each share of Class B Common Stock is convertible, at any time at the option of the holder, into one share of Class A Common Stock. Effective August 9, 2017, 31,210 shares of Class B Common Stock were voluntarily converted by Mr. Stad into an equal number of shares of Class A Common Stock of the issuer.
(2)  Each share of Class B Common Stock is convertible, at any time at the option of the holder, into one share of Class A Common Stock. Effective August 9, 2017, the Dragoneer Entities (as defined below) voluntarily converted 447,794 shares of Class B Common Stock (of which Dragoneer Apartment Fund (as defined below) held 260,305 shares) into an equal number of shares of Class A Common Stock of the issuer.
(3)  Mr. Stad is the managing member of Dragoneer Global GP, LLC ("Dragoneer GP"), Dragoneer Global GP II, LLC ("Global GP II"), and Dragoneer Investment Group, LLC ("Dragoneer Adviser"). Dragoneer GP is the manager of Dragoneer Apartment, LLC ("Dragoneer Apartment Fund") and Global GP II is the general partner of Dragoneer Global Fund II, L.P. ("Dragoneer Global Fund II" and, together with Dragoneer GP, Dragoneer Adviser, Dragoneer Apartment Fund, and Global GP II, the "Dragoneer Entities"). By virtue of the foregoing relationships, Mr. Stad and each of the Dragoneer Entities may be deemed to share beneficial ownership of some or all of the securities reported above. Mr. Stad and each of the Dragoneer Entities disclaims beneficial ownership of the reported securities, except to the extent of their respective pecuniary interest therein.
(4)  The securities reported in the table above as having converted from Class B Common Stock to Class A Common Stock are held by Dragoneer Apartment Fund and certain other funds and managed accounts associated with the Dragoneer Entities and Mr. Stad.
(5)  Certain Dragoneer Entities and certain other funds and managed accounts associated with the Dragoneer Entities and Mr. Stad sold shares of Class A Common Stock reported in the table above. On August 9, 2017 and August 10, 2017, respectively, Dragoneer Global Fund II sold 27,404 and 85,285 shares of Class A Common Stock, Dragoneer Apartment Fund sold 10,794 and 33,590 shares of Class A Common Stock, and certain other funds and managed accounts associted with the Dragoneer Entities and Mr. Stad sold 7,775 and 24,192 shares of Class A Common Stock.
(6)  The shares of Class B Common Stock have no expiration date. However, all outstanding shares of Class B Common Stock convert automatically into shares of Class A Common Stock, on a one share for one share basis, on the date when the number of the Issuer's outstanding shares of Class B Common Stock represents less than 10% of the sum of its outstanding shares of Class A Common Stock and Class B Common Stock.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
STAD MARC
ONE LETTERMAN DRIVE
BUILDING D, SUITE M500
SAN FRANCISCO, CA 94129
X

Dragoneer Apartment, LLC
1 LETTERMAN DRIVE
BUILDING D, SUITE M500
SAN FRANCISCO, CA 94129
X

DRAGONEER GLOBAL FUND II, L.P.
ONE LETTERMAN DRIVE
BUILDING D, SUITE M500
SAN FRANCISCO, CA 94129
X


Signatures
/s/Marc Stad 8/11/2017
** Signature of Reporting Person Date

Dragoneer Apartment, LLC, By Dragoneer Global, LLC, its manager, /s/Pat Robertson 8/11/2017
** Signature of Reporting Person Date

Dragoneer Global Fund II, L.P., By Dragoneer Global GP II, LLC, its general partner, /s/Pat Robertson 8/11/2017
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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