Twitter just sold MoPub, its mobile ad platform, to a game maker/marketing software provider called AppLovin. MoPub sold for $1.05 billion in cash. 🤑
As Twitter seeks to revamp other areas of its business, the company announced its decision to sell MoPub in October 2021 after the platform unveiled its lofty plan to double its revenue in 2 years. Twitter’s GM of Revenue Products, Bruce Falck, shared:
“With the sale of MoPub completed, we continue to concentrate our efforts on enhancing ads across our platform. Our goal is to deliver faster growth in key areas and accelerate our product development.”
MoPub brought Twitter $188 million in revenue in 2020, but the platform has since decided to focus on the expansion of its communities and subscription services instead. $TWTR closed down 1.3%.