Home > Business & Strategy, Technology & Telecom > Google acquires mobile advertising specialist

Google acquires mobile advertising specialist

November 10, 2009 Leave a comment Go to comments

Google has finalised its acquisition of mobile advertising specialist AdMob for US$750 million in stock.

The deal forms part of the internet search giant’s push to consolidate its position in the fast-growing mobile advertising market.

“Mobile advertising has enormous potential as a marketing medium and while this industry is still in the early stages of development, AdMob has already made exceptional progress in a very short time,” said Susan Wojcicki, vice president of Product Management at Google.

“AdMob is the quintessential Silicon Valley startup – generating impressive year on year revenue growth – and we’re excited to welcome this talented team to Google.”

Omar Hamoui, founder and CEO of AdMob, was upbeat about the deal, which will see the company retain its existing tech team, branding and relative independence.

“I think people underestimate how important ads have been to funding the development of innovative content on the Internet. Our goal all along at AdMob has been to make it possible for developers and publishers to bring their products and ideas to mobile with the same business model,” he said.

“We’re proud of the progress we’ve made towards accomplishing this goal, and joining Google will only accelerate this process. As publishers and developers generate more revenue from their mobile products, they will invest more, and their mobile offerings will become richer, more creative and more robust.”

Advertisements
  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: