On Wednesday, Twitter revealed that it would sell MoPub to AppLovin , a developer of mobile games and marketing software.
Twitter purchased the business for about $350 million for MoPub back in 2013 and will receive $1.05 billion in cash in return. According to the business, MoPub assisted Twitter in earning $188 million in revenue last year. By 2023, Twitter had previously targeted doubling its yearly income.
Twitter CEO Jack Dorsey stated in a press statement that the deal “increases our focus and indicates confidence in our revenue product roadmap, accelerating our capacity to invest in the core products that position Twitter for long-term growth and best serve the public conversation.”