Twitter (NYSE: TWTR) announced it has agreed to sell its MoPub mobile advertising network to AppLovin Corporation for $1.05 billion. Both companies entered into a definitive agreement to carry out the all-cash deal.
The Deal Details
Roughly 45,000 mobile apps use the MoPub network, which reaches 1.5 billion addressable users. The deal was announced on 8 October. The network generated revenues of more than $188 million in 2020 being a part of Twitter. These represent almost 5.9% of the company's advertising revenues. According to the press release, Twitter believes that AppLovin is "well-positioned to grow and evolve MoPub’s network of customers in the rapidly changing in-app industry." In the press release, Twitter CEO Jack Dorsey said: “This transaction increases our focus and de...
