Twitter to Sell MoPub to AppLovin for USD 1.05 Billion
Oct 7, 2021 By MarketDepth
Twitter, Inc. (NYSE: TWTR) reported entry into a definitive agreement to sell MoPub to AppLovin Corporation (NASDAQ: APP) for USD 1.05 Billion in cash. This transaction is geared towards enabling Twitter to accelerate development of owned and operated revenue products and drive growth across key areas. Jack Dorsey, Twitter CEO says: “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. We thank the incredible teams and customers who have contributed to making MoPub a success within Twitter over the years.”
Ned Segal, Twitter CFO says: “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.”
Bruce Falck, Twitter Revenue Product Lead adds: “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. 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.”
