AppLovin Buys MoPub From Twitter for $1.05 Billion

<p><strong>SAN FRANCISCO<&sol;strong> &&num;8212&semi; Twitter&comma; Inc&period; has agreed to sell MoPub to AppLovin Corporation&comma; a leading marketing software company based in Palo Alto&comma; for &dollar;1&period;05 billion in cash&period;<&sol;p>&NewLine;<p>MoPub provides an advertising network for app publishers&period; Twitter bought the company for about &dollar;350 million in 2013 but is selling to focus on its own products and services&period;<&sol;p>&NewLine;<p>Jack Dorsey&comma; Twitter CEO said in a statement&colon; &OpenCurlyDoubleQuote;This transaction increases our focus and demonstrates confidence in our revenue product roadmap&comma; accelerating our ability to invest in the core products that position Twitter for long-term growth and best serve the public conversation&period; We thank the incredible teams and customers who have contributed to making MoPub a success within Twitter over the years&period;”<&sol;p>&NewLine;<p>Ned Segal&comma; Twitter CFO said&colon; &OpenCurlyDoubleQuote;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&period; We plan to accelerate product development and replenish the near term revenue loss&comma; with the goal of improving our time to market to deliver on our<br &sol;>&NewLine;previously stated goal of at least doubling total annual revenue from &dollar;3&period;7 billion in 2020 to &dollar;7&period;5 billion or more in 2023&period;”<&sol;p>&NewLine;<p>In 2020&comma; MoPub generated approximately &dollar;188 million in annual revenue&period;<&sol;p>&NewLine;<p>Under the terms of the agreement&comma; Twitter will provide certain services to AppLovin for a period of time post-close to enable an orderly transition for publishers and advertisers&period; The transaction is expected to close in the coming months&comma; and subject to customary closing conditions&comma; including receipt of regulatory approval&period;<&sol;p>&NewLine;