Just when you might have thought Microsoft was turning a corner in its battle for world dominance with Google, Twitter is this evening awash with news that Google have acquired mobile advertising giant AdMob for $750 million in stock.
Aa mobile advertising marketplace that connects advertisers with mobile publishers, AdMob allows advertisers to create ads, choose landing pages and target their ads with plenty of detail. Ads can be targeted to locations, carriers, phone platforms and phone manufacturers.
Google’s reports: “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. 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.”
AdMob further elaborated: “We’re proud of the progress we’ve made towards accomplishing this goal, and joining Google will only accelerate this process, ultimately leading to very real benefits for end users around the world. 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.”
The acquisition will add considerably to Google’s reach into the mobile realm – one of the few remaining digital areas where Google does not yet have a dominant prescense.
And what about AdMob? Well, it was founded in late 2006, so the company is only just turning three years old! not a bad run for a startup?
According to today’s press release from Google, “The deal will help Google in its efforts to develop more effective tools for creating, serving and analyzing emerging mobile ads formats. As this ecosystem continues to grow, the company expects these new marketing media to offer significant benefits.”
Google has provided an image that summarises quite well just why Google wanted to expand with AdMob. At first vantage it looks like the two companies focuses were quite distinct indeed:
Watch this space….
Quotes courtesy: Google press release.
[Blog post originally on Brightfire Blog: Nov 9th ’09]