Tech

Twitter sells MoPub mobile advertising network to AppLovin for $ 1.05 billion

Twitter CEO, Square co-founder and CEO Jack Dorsey will speak at the Bitcoin 2021 Convention, a cryptocurrency conference held at the Mana Convention Center in Miami, Florida, on June 4, 2021.

Marco Bello | AFP | Getty Images

Twitter announced on Wednesday that it will sell its MoPub mobile advertising network to mobile game developer AppLovin for $ 1.05 billion in cash.

Twitter said it has decided to sell MoPub to accelerate the development and growth of profitable products it owns and operates. According to Twitter, the sale of MoPub is in line with its goal of achieving $ 7.5 billion in revenue by the end of 2023.

In a statement, Twitter CEO Jack Dorsey said, “This deal raises our focus, shows confidence in our profitable product roadmap, positions Twitter for long-term growth, and speaks publicly. Accelerate your ability to invest in the core products that are most useful to you. “

MoPub accounted for $ 188 million in Twitter revenue in 2020, the company said Wednesday. That’s close to 5.9% of the company’s 2020 advertising revenue and just over 5% of its total 2020 revenue.

According to AppLovin’s contract announcement, the MoPub network is used by 45,000 mobile apps and has reached 1.5 billion addressable users. The deal is expected to close in 2022, according to AppLovin.

“We are excited about the opportunity to grow the AppLovin platform and further enhance our publisher’s monetization tools through this strategic transaction,” AppLovin CEO Adam Foroughi said in a statement. “We welcome the MoPub team and work together to integrate the best of MoPub into the AppLovin software platform.”

Twitter bought MoPub for about $ 350 million in September 2013, just before MoPub made its debut in the open market. This purchase was intended to enhance Twitter’s ability to generate revenue from mobile advertising.

This story is developing.

Twitter sells MoPub mobile advertising network to AppLovin for $ 1.05 billion

Source link Twitter sells MoPub mobile advertising network to AppLovin for $ 1.05 billion

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