diff --git a/core/AppBuilder.js b/core/AppBuilder.js
index 87083ec2f3..26418ef4b1 100644
--- a/core/AppBuilder.js
+++ b/core/AppBuilder.js
@@ -40,6 +40,7 @@ function createApplication(appContext) {
       super(props);
 
       this.store = null;
+      this.state = { appReady: false };
     }
 
     getChildContext() {
@@ -113,7 +114,7 @@ function createApplication(appContext) {
         this,
         appContext.extensions,
         'appWillMount',
-      );
+      ).then(() => this.setState({ appReady: true }));
     }
 
     componentDidMount() {
@@ -135,6 +136,12 @@ function createApplication(appContext) {
     }
 
     render() {
+      const { appReady } = this.state;
+
+      if (!appReady) {
+        return null;
+      }
+
       const { extensions } = appContext;
       const mainContent = renderMainContent(this, extensions);
       const renderedContent = renderProviders(extensions, mainContent);
@@ -182,7 +189,7 @@ export class AppBuilder {
    *
    * @param {Function} renderFunction Navigation bar render function
    */
-  setRenderNavigationBar(renderFunction = () => {}) {
+  setRenderNavigationBar(renderFunction = () => { }) {
     this[APP_CONTEXT].renderNavigationBar = renderFunction;
     return this;
   }
diff --git a/core/services/builder.js b/core/services/builder.js
index f17fc6ca35..4e205698a3 100644
--- a/core/services/builder.js
+++ b/core/services/builder.js
@@ -94,7 +94,8 @@ export function createAppContextConsumer(extensions) {
                 res({
                   ...value,
                   ...contextValue,
-                })}
+                })
+              }
             </Context.Consumer>
           );
         },
diff --git a/core/services/lifecycle.js b/core/services/lifecycle.js
index e245e10985..2326c77106 100644
--- a/core/services/lifecycle.js
+++ b/core/services/lifecycle.js
@@ -1,3 +1,4 @@
+import _ from 'lodash';
 import { extractFlattenedNamedExports } from './exports';
 import { prioritizeItems } from './priority';
 
@@ -11,24 +12,17 @@ import { prioritizeItems } from './priority';
  * @returns {Promise} that will be resolved at the end of all lifecycle functions
  */
 export function callLifecycleFunction(app, extensions, functionName) {
-  const promises = [];
-  const lifecycleFunctions = extractFlattenedNamedExports(extensions, functionName);
+  const lifecycleFunctions = extractFlattenedNamedExports(
+    extensions,
+    functionName,
+  );
   const prioritizedLifecycleFunctions = prioritizeItems(lifecycleFunctions);
 
-  prioritizedLifecycleFunctions.forEach((lifecycleFunction) => {
-    if (typeof lifecycleFunction === 'function') {
-      const result = lifecycleFunction(app);
-
-      if (result instanceof Promise) {
-        const wrappedPromise = new Promise(resolve =>
-          result
-            .then(() => resolve())
-            .catch(() => resolve())
-        );
-        promises.push(wrappedPromise);
-      }
-    }
-  });
-
-  return Promise.all(promises);
+  return _.reduce(
+    prioritizedLifecycleFunctions,
+    (result, lifeCycle) => {
+      return result.then(() => lifeCycle(app));
+    },
+    Promise.resolve(),
+  );
 }
diff --git a/core/services/priority.js b/core/services/priority.js
index 0345bbafe3..7ac38943ec 100644
--- a/core/services/priority.js
+++ b/core/services/priority.js
@@ -4,6 +4,7 @@ export const priorities = Object.freeze({
   NAVIGATION: 200,
   AUTH: 300,
   REDUX: 500,
+  FIREBASE: 700,
   NETWORKING: 900,
   DEFAULT: 5000,
   LAST: Number(Infinity),
diff --git a/package.json b/package.json
index f53dbba0ce..9434bf52ec 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@shoutem/platform",
-  "version": "6.0.1",
+  "version": "7.0.0",
   "scripts": {
     "android": "react-native run-android",
     "build": "node scripts/build",
diff --git a/package.template.json b/package.template.json
index f53dbba0ce..9434bf52ec 100644
--- a/package.template.json
+++ b/package.template.json
@@ -1,6 +1,6 @@
 {
   "name": "@shoutem/platform",
-  "version": "6.0.1",
+  "version": "7.0.0",
   "scripts": {
     "android": "react-native run-android",
     "build": "node scripts/build",
diff --git a/patches/react-native+0.66.0.patch b/patches/react-native+0.66.0.patch
index 4d4770913f..234d6c8dc3 100644
--- a/patches/react-native+0.66.0.patch
+++ b/patches/react-native+0.66.0.patch
@@ -18,3 +18,24 @@ index c498ba6..0765f28 100755
  set -e
  
  # Support Homebrew on M1
+diff --git a/node_modules/react-native/React/Views/RCTModalHostView.m b/node_modules/react-native/React/Views/RCTModalHostView.m
+index bea9e08..68d80d8 100644
+--- a/node_modules/react-native/React/Views/RCTModalHostView.m
++++ b/node_modules/react-native/React/Views/RCTModalHostView.m
+@@ -116,10 +116,12 @@ - (void)didUpdateReactSubviews
+ 
+ - (void)dismissModalViewController
+ {
+-  if (_isPresented) {
+-    [_delegate dismissModalHostView:self withViewController:_modalViewController animated:[self hasAnimationType]];
+-    _isPresented = NO;
+-  }
++  dispatch_async(dispatch_get_main_queue(), ^{
++    if (self->_isPresented) {
++      [self->_delegate dismissModalHostView:self withViewController:self->_modalViewController animated:[self hasAnimationType]];
++      self->_isPresented = NO;
++    }
++  });
+ }
+ 
+ - (void)didMoveToWindow
diff --git a/platform/platform.json b/platform/platform.json
index 6de4b08113..81c7e35b3a 100644
--- a/platform/platform.json
+++ b/platform/platform.json
@@ -1,7 +1,7 @@
 {
-  "version": "6.0.1",
-  "mobileAppVersion": "6.0.1",
-  "releaseNotes": "* Reworked RSS feed resolution resulting in more optimised feed fetching and parsing",
+  "version": "7.0.0",
+  "mobileAppVersion": "7.0.0",
+  "releaseNotes": "* Improved prioritization of lifecycle functions execution\n* Improved preview build caching mechanism.",
   "settings": {
     "DEV-appetizeKey": "e4jq4nuwkw6z6ejfp62zu2q8ur",
     "QA-appetizeKey": "b6p3zptqr2j28wb4qymhnbn3dr",
@@ -23,24 +23,24 @@
   "dependencies": {
     "shoutem.about": "~6.0.0",
     "shoutem.analytics": "~4.0.2",
-    "shoutem.application": "~4.1.1",
+    "shoutem.application": "~4.1.2",
     "shoutem.audio": "~4.0.2",
-    "shoutem.auth": "~5.0.2",
+    "shoutem.auth": "~5.1.0",
     "shoutem.camera": "~5.0.0",
-    "shoutem.cms": "~5.0.1",
+    "shoutem.cms": "~6.0.0",
     "shoutem.code-push": "~4.1.1",
     "shoutem.deals": "~6.0.1",
     "shoutem.events": "~5.0.0",
-    "shoutem.favorites": "~5.0.0",
-    "shoutem.firebase": "~4.1.1",
+    "shoutem.favorites": "~6.0.0",
+    "shoutem.firebase": "~4.1.2",
     "shoutem.flurry-analytics": "~4.0.2",
-    "shoutem.i18n": "~4.0.4",
+    "shoutem.i18n": "~4.0.5",
     "shoutem.ical-events": "~5.0.0",
     "shoutem.layouts": "~7.0.0",
-    "shoutem.loyalty": "~5.0.1",
-    "shoutem.navigation": "~5.0.1",
+    "shoutem.loyalty": "~6.0.0",
+    "shoutem.navigation": "~5.0.4",
     "shoutem.news": "~6.0.0",
-    "shoutem.notification-center": "~5.0.1",
+    "shoutem.notification-center": "~7.0.0",
     "shoutem.page": "~5.0.0",
     "shoutem.people": "~5.0.0",
     "shoutem.permissions": "~4.0.3",
@@ -49,22 +49,22 @@
     "shoutem.places": "~6.0.0",
     "shoutem.preview": "~4.0.2",
     "shoutem.products": "~5.0.0",
-    "shoutem.push-notifications": "~4.0.2",
-    "shoutem.redux": "~4.1.2",
-    "shoutem.rss": "~5.0.0",
-    "shoutem.rss-monitoring": "~4.1.0",
+    "shoutem.push-notifications": "~4.0.3",
+    "shoutem.redux": "~4.1.3",
+    "shoutem.rss": "~5.0.1",
+    "shoutem.rss-monitoring": "~4.1.1",
     "shoutem.rss-news": "~5.1.0",
     "shoutem.rss-photos": "~5.1.0",
     "shoutem.rss-videos": "~5.1.0",
-    "shoutem.rubicon-theme": "~5.0.0",
-    "shoutem.social": "~7.0.1",
+    "shoutem.rubicon-theme": "~5.0.1",
+    "shoutem.social": "~8.0.0",
     "shoutem.sub-navigation": "~4.0.2",
-    "shoutem.theme": "~5.0.0",
-    "shoutem.user-profile": "~3.0.0",
+    "shoutem.theme": "~5.0.1",
+    "shoutem.user-profile": "~4.0.0",
     "shoutem.video": "~7.0.0",
     "shoutem.vimeo": "~5.1.0",
-    "shoutem.web-view": "~5.0.0",
+    "shoutem.web-view": "~5.0.1",
     "shoutem.wordpress": "~5.0.0",
-    "shoutem.youtube": "~5.0.1"
+    "shoutem.youtube": "~5.0.2"
   }
 }