Twitter announced Wednesday that it would offload MoPub, the mobile ad platform it bought back in 2013, selling the company to mobile game and marketing software maker AppLovin.
Twitter paid around $350 million for MoPub back in 2013 and will sell the company for $1.05 billion in cash. MoPub helped Twitter bring in around $188 million in revenue last year, according to the company. Twitter previously set a goal of doubling its annual revenue by 2023.
“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,” Twitter CEO Jack Dorsey said in a press release.
