Twitter sells off mobile monetization platform in $1.05 billion deal
Social messaging platform, Twitter is selling off its mobile monetization platform– MoPub to marketing software company, AppLovin.
MoPub, which provides monetization solutions for mobile app publishers and developers around the globe, generated $188 million in revenue for Twitter in 2020, which represents nearly 5.9% of the company’s 2020 advertising revenue.
Twitter CEO, Jack Dorsey announced: “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.”
Valued at $1.05 billion, the sale will accelerate the development and growth of the company’s owned and operated revenue products as well as drive growth across key areas for the service including performance-based advertising, small and medium-sized business offerings, and commerce initiatives.
According to Twitter CFO, Ned Segal “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.”
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