Twitter, looking to focus on development dollars on its core business, reached an agreement to sell MoPub, which sells cashing solutions to mobile app publishers and developers, to sell software company AppLovin for 1. 1.05 billion in cash.
Twitter bought MoPub in September 2013 for about 350 35050 million.
In 2020, MoPub earned about 188 1,188 million annually for Twitter, the company reported in “Data Licensing and Others”. Twitter said it would provide additional details on the estimated future financial impact of the MoPub distribution when it reports Q3 results on Oct. 2 after the market closes.
Twitter CEO Jack Dorsey said: “These transactions increase our focus and confidence in our revenue product roadmap, accelerating our ability to invest in key products that best serve Twitter’s position and public conversations for long-term growth. “We thank the incredible team and customers who have contributed to the success of MoPub in Twitter over the years.”
According to Twitter, MoPub sales will allow it to accelerate the development of proprietary and managed revenue products and increase revenue from the region, including performance-based advertising, small and medium-sized business (SMB) offers and e-commerce.
Under the terms of the agreement, Twitter will provide certain services to Applewin to enable “an orderly transition for publishers and advertisers” since the shutdown. The transaction, which was unanimously approved by Twitter’s board of directors, is expected to close in the coming months,
Subject to regulatory approval and other formal closure conditions.