The money from the sale of MoPub to Silicon Valley-based AppLovin Corporation is to be invested in building revenue-generating features on Twitter and promoting the growth of the one-to-one streaming platform. various.

Twitter said on Wednesday it had struck a deal to sell the company specializing in advertising MoPub apps for just over $ 1 billion in cash.

(Sign up for our technology newsletter, Today’s Cache, for information on emerging themes at the intersection of technology, business and politics. Click here to subscribe for free.)

The money from the sale of MoPub to Silicon Valley-based AppLovin Corporation is to be invested in building revenue-generating features on Twitter and promoting the growth of the one-to-one streaming platform. various.

“The sale of MoPub is all about increased focus, realigning our resources and accelerating growth in a number of key areas,” Bruce Falck, Twitter’s head of revenue products, said in a statement.

AppLovin is a mobile technology company that provides services for developers to publish, improve, and make money from apps.

As part of Twitter, MoPub generated around $ 188 million in revenue last year, according to the companies.

Twitter chief Jack Dorsey has made it a priority to roll out new features quickly, with the goal of increasing revenue and the time people spend on the platform.

The sale of MoPub “demonstrates confidence in our revenue product roadmap,” Dorsey said in a statement.

Twitter aims to at least double total annual revenue from $ 3.7 billion last year to $ 7.5 billion this year, according to CFO Ned Segal.

Last month, the site began letting high-profile users get advice on bitcoin, as the network ramps up efforts to woo creators of essential content to draw crowds online.

Platforms like TikTok, Instagram and YouTube have built their popularity with young people in large part thanks to these social media stars.

Attracting and retaining creators and their audiences has therefore become crucial for tech companies struggling to attract audiences – and advertising profits.

“We want Twitter to be the best place for creators to have conversations with their fans and monetize their audiences,” product manager Esther Crawford told reporters at a briefing.

Twitter has tested a tip option that is being rolled out worldwide for Apple device-specific versions of its app, with bitcoin as the currency option.

The network is also working on a system to offer verification of NFTs – non-fungible tokens – which are at the heart of a digital collection boom.

NFT sales – virtual images of anything from popular internet memes to original artwork – have swept the art world, with some reaching millions of dollars at major auction houses.

Twitter has said it is increasing the tools for users to keep the exchanges on the civilian platform alive or to avoid engaging in unexpected and controversial online conversations.

Possible options include improving the tools to filter out comments deemed offensive and sending a warning message to people when they join a potentially heated conversation on the platform.


Source link