Twitter has announced the sale of MoPub to ad tech company AppLovin for $US1.05 billion ($1.44 billion), a mobile advertising network it acquired in 2013 for $350 million.
Twitter originally purchased MoPub as a way to strengthen the social media company’s mobile ads business.
And while MoPub has proven to be an effective advertising tool for Twitter, the company says it is now focusing on developing advertising solutions in-house.
“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.
“We thank the incredible teams and customers who have contributed to making MoPub a success within Twitter over the years.”
Twitter is currently in the process of revitalising its advertising business. The company’s recent financial results showed an 87 per cent YoY increase in advertising revenue.
Twitter AU’s Acting MD Angus Keene recently told B&T the company is developing new advertising products at a “much faster rate than we were a couple of years ago”.
Twitter Revenue Product Lead Bruce Falck said this will continue.
“The sale of MoPub is all about increased focus, redirecting our resources and delivering faster growth in a number of key areas including performance-based ads, SMB and commerce,” he said
“We’re confident AppLovin will be a great home for MoPub as they will further invest in the business, driving strong monetization for publishers and their customers.”
