Twitter has agreed to sell mobile ad company MoPub to AppLovin Corp for $1.05 billion as the microblogging platform aims to focus more on advertising in its own app and website.
MoPub, which brought Twitter annual revenue of $188 million in 2020, allows companies to monitor ad inventory in real-time, just like Google’s DoubleClick.
Twitter bought MoPub in 2013 for nearly $350 million.
The MoPub buyout comes months after Apple updated its mobile operating system, which powers iPhones and iPads and makes it harder for digital advertisers, social media platforms and mobile game developers to track users on Apple devices.
The social media giant said on Wednesday it would streamline its core business by accelerating the development of new products and features to meet its goal of doubling revenue to $7.5 billion by 2023.