Twitter announced that it is selling mobile ad platform MoPub to mobile app technology company AppLovin for $1.05 billion in cash.
Currently used by 45,000 mobile apps to manage their monetization and reaching 1.5 billion addressable users worldwide, MoPub generated $188 million in revenue in 2020, according to Twitter.
“This transaction increases our focus and demonstrates confidence in our revenue product roadmap, accelerating our ability to invest in the core products that position Twitter for long-term growth and best serve the public conversation,” Twitter CEO Jack Dorsey said in a press release.
Twitter had acquired MoPub in 2013 for $350 million to expand its ad business.
Ned Segal, Twitter CFO said: “The sale of MoPub positions us to concentrate more of our efforts on the massive potential for ads on our website and in our apps. We plan to accelerate product development and replenish the near term revenue loss, with the goal of improving our time to market to deliver on our previously stated goal of at least doubling total annual revenue from $3.7 billion in 2020 to $7.5 billion or more in 2023.”
Recently-public company AppLovin said it plans to integrate MoPub’s reach and product features into its existing platform to better maximize revenue growth and improve efficiencies for both MoPub and AppLovin customers.
“We are excited by the opportunity to grow the AppLovin platform and further enhance our publisher monetization tools through this strategic transaction,” said Adam Foroughi, AppLovin’s co-founder and CEO. “We welcome the MoPub team and together we will work diligently to combine the best of MoPub into the AppLovin software platform.”
In April, AppLovin completed the acquisition of mobile measurement company Adjust.