Microblogging platform Twitter acquired MoPub, a San Francisco, CA-based online mobile-ad exchange.
According to Reuters, Twitter paid $350m in stock.
Led by Jim Payne, Founder and Chief Executive Officer, MoPub is a hosted ad serving solution built specifically for mobile publishers to grow their business with management, optimization and reporting capabilities. It has raised 6.5m in Series A funding by Accel Partners, Harrison Metal Capital (read here) and $12m in Series B funding by Jafco Ventures, Accel Partners, Harrison Metal Capital, and Iris Capital (read here).
Commenting on the deal, Payne said: “It’s important to underscore that our commitment to you, the publisher, will not change. In fact, it will be strengthened. Twitter will invest in our core business and we will continue to build the tools and technology you need to better run your mobile advertising business.
“In addition to investing in new capabilities for our publisher platform, we believe there are opportunities to bring better native advertising to the mobile ecosystem. With the support of the team and resources of Twitter, we’ll be able to move even more quickly towards the realization of our original vision“.
FinSMEs
11/09/2013