Twitter announced today it has completed the sale of its mobile ad platform, MoPub, to the mobile game maker and marketing software provider AppLovin for $1.05 billion in cash. The deal was first announced in October 2021, following Twitter’s reveal of its plan to double its revenue by 2023 to reach $7.5 billion or more. While MoPub had helped Twitter generate approximately $188 million in annual revenue in 2020, Twitter now sees more potential in developing other areas of its business amid its accelerated product development. Specifically, the company said it’s now redirecting its resources toward performance-based ads, SMB and commerce.
Today, Twitter reiterated its plans to further the development of its own owned and operated products.
“With the sale of MoPub completed, we continue to concentrate our efforts on enhancing ad …
