Twitter announced the sale of its mobile advertising platform MoPub. The new owner of the service will be AppLovin Corp, which will pay $ 1.05 billion in cash for this. The sale of the asset is driven by Twitter’s desire to focus on advertising within its own platform.
Recall that the MoPub service brought the company about $ 188 million in revenue last year. With its help, application developers can monetize their own products, receiving all the related information in real time. Twitter bought the MoPub platform in 2013 for about $ 350 million. This year, the social media giant has closed several deals to grow its core business. For example, the Breaker podcast app was purchased, as well as the Revue newsletter platform. As for the deal with AppLovin, it was approved unanimously by the board members of Twitter.
According to reports, Twitter intends to focus on developing the company’s core business, including by accelerating the development of new products and functions. This approach is expected to help meet the target of doubling revenues by 2023.
“Selling MoPub will allow us to focus on realizing our advertising potential on our web platform and apps.”– commented on the issue Twitter CFO Ned Segal (Ned Segal).