Google ventures into Mobile Advertising; buys AdMob
| November 9th, 2009 | By: Celina Jimo | Category: Business
In a move to expand its considerable advertising arsenal yet further, California-based search behemoth Google Inc. has today announced plans to acquire mobile display ad network AdMob for a cool $750 million USD in stock.
According to Google, the acquisition of San Mateo-based AdMob will enable the world’s biggest search provider to significantly boost its market expertise in an extremely competitive and lucrative sector that’s only likely to experience exponential growth in the next few years.
AdMob was founded in 2006 by Omar Hamoui when he couldn’t find effective methods to drive traffic to his mobile Web site.
“Over the past few years, Omar and his talented team have built a thriving company with great mobile advertising products, and we are looking forward to having them join the Google team and work with us on the future of mobile advertising,” commented Google vice president of Product Management Susan Wojcicki in an official statement.
“For publishers of mobile websites and applications, this deal will mean better products and tools and more effective monetization of their content, allowing them to focus more on their users and less on how to generate traffic,” she added.
Google also believes the acquisition will enable mobile advertisers to enjoy improved reach while delivering better, more relevant, and more useful ads to a wealth of online mobile devices.
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