Twitter announced on Wednesday that it is selling mobile advertising platform MoPub to gaming and marketing software company AppLovin. The deal, which is yet to be closed, will cost AppLovin $1.05 billion in cash.
MoPub is not a company originally created by Twitter, but it was acquired by the social network in 2013 for $350 million. According to TechCrunch, MoPub resulted in $188 million in revenue for Twitter last year alone. Here is how the company describes itself on its official website, which still carries the Twitter brand at this date:
MoPub provides flexible monetization solutions for mobile publishers around the globe. Today, publishers and app developers use MoPub’s trusted platform to drive maximum revenue for every ad impression and control their user experience, while DSPs and marketers enjoy access to high quality mobile audiences at maximum scale. We’ve been helping mobile app publishers grow their businesses since 2010. MoPub was acquired by Twitter in 2013.
Twitter CEO Jack Dorsey told the press that this deal will accelerate the company’s ability to “invest in the core products that position Twitter for long-term growth and best serve the public conversation.” Twitter CFO Ned Segal reinforced in a tweet that the company sees opportunity to increase focus on its own products, although Twitter has still been investing in acquisitions recently.