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

By on October 6, 2021 0

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

Marco Bello | AFP | Getty Images

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

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

In a statement, Twitter CEO Jack Dorsey said, “This deal strengthens our focus, shows our confidence in our profitable product roadmap, positions Twitter for long-term growth and speaks publicly. Speed ​​up your ability to invest in the commodities that matter most to you. “

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

According to AppLovin’s contract announcement, the MoPub network is used by 45,000 mobile applications 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 develop 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 bring the best of MoPub into the AppLovin software platform. “

Twitter bought MoPub for around $ 350 million in September 2013, just before MoPub debuted on the open market. This purchase was aimed at improving Twitter’s ability to generate revenue through mobile advertising.

This story is developing.

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