By
Chainwire
April 22nd, 2024
News of the sale has had a positive impact on the shares of both companies. Twitter stock increased by 2 percent while that of AppLovin surged by around 8 percent.
In a statement released by AppLovin Corporation, it was revealed that the marketing software firm will be paying $1 billion for the acquisition of Twitter’s MoPub, the social media’s mobile advertising network.
According to the statement, both firms are already in an advanced agreement stage as the deal is subject to approvals from regulators.
The Co-founder of AppLovin, Adam Foroughi, couldn’t hide his enthusiasm and joy over the deal. He said:
“We are excited by the opportunity to grow the AppLovin platform and further enhance our publisher monetization tools through this strategic transaction. We welcome the MoPub team, and together we will work diligently to combine the best of MoPub into the AppLovin software platform.”
The coming together of both companies will help boost revenue for app publishers by pushing their products towards increased demand and, at the same time, making them accessible to users globally. MoPub customer base network stretches over 1.5 billion users with over 45,000 mobile apps. AppLovin plans to inculcate this broad reach and MoPub exquisite features to meet their targets – growing their customer base and improving on its services.
Consequently, AppLovin’s powerful features leave consumers with a fantastic range of options for the growth of their businesses. Users of the software are able to monetize, analyze, and equally publish apps. With a range of over 200 different apps in its party content, AppLovin’s goal is to ensure their apps provide the content consumers need. The company explained:
“This transaction aims to yield a robust solution for mobile app publishers through increased revenue opportunity via more demand, and for mobile advertisers through access to millions of more consumers. MoPub software is used by 45,000 mobile apps to manage their monetization and reaches 1.5 billion addressable users around the world. AppLovin plans to integrate MoPub’s reach and product features into its existing platform to better maximize revenue growth and improve efficiencies for both MoPub and AppLovin customers.”
Twitter, while commenting on the deal, said that selling MoPub was geared towards accelerating its own development and growth of its revenue-operated products. The social media giant continued that the sale would also help it reach its goal of earning $7.5 billion in revenue by 2023.
Jack Dorsey, the CEO of Twitter, was quoted to have said that “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”.
News of the sale has had a positive impact on the shares of both companies. Twitter Inc (NYSE: TWTR) stock increased by 2 percent while that of AppLovin Corp (NASDAQ: APP) surged by around 8 percent.