It’s official – Google had announced a recent statement of acquiring Admob for 750 Million USD. This is a big win for the company’s early investors, which include Sequoia Capital and Accel Partners
With a given myopic amount of time, the said company still manages to increase their growth exponentially. One could say that the amazing success of this advertising-firm lies on “the right-idea at the right-time” type of origination.
On a nutshell, Admob is an industry-leading mobile advertising and monetization solutions from the trusted name in mobile advertising. If you happen to see ads floating around your iPhone screen while you are playing a Free App – Yep, that’s an example of an AdMob ads. Pretty neat huh?
Here’s an excerpt from the statement of google.
We’re happy to announce today that we have signed an agreement to acquire AdMob, a mobile display advertising company based in San Mateo, CA. AdMob is a great Silicon Valley story — founded in 2006 by Omar Hamoui when he couldn’t find good ways to generate traffic for his mobile 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.
We’ve written in the past about how mobile phones are becoming an increasingly indispensable part of our daily lives, and we continue to see how great devices with full Internet browsers and vibrant app marketplaces are driving an explosion of usage. In fact:
- iPhone and Android users browse the Internet more often than anyone else [Morgan Stanley], contributing to Google’s 5x mobile search growth over the past two years
- And a quarter of these same iPhone and Android users spend nearly 90 minutes per day using applications on their devices [AdMob]
Despite the tremendous growth in mobile usage and the substantial investment by many businesses in the space, the mobile web is still in its early stages. We believe that great mobile advertising products can encourage even more growth in the mobile ecosystem. That’s what has us excited about this deal.
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 revenue.
For advertisers who want to reach users when they are engaged with mobile content, this deal will bring better, more relevant ads and greater reach. It will also mean more interesting, engaging ad formats.
Last, but certainly not least, we believe users will benefit from this deal — through more mobile content and through better mobile ads that deliver useful information. And that’s good for all of us. For more information, check out this site that we’ve set up about the deal.
A statement from Google Press.
On November 9, 2009 Google announced an agreement to acquire AdMob, a mobile display ad technology provider, for $750 million. This acquisition will enhance Google’s existing expertise and technology in mobile advertising, while also giving advertisers and publishers more choice in this growing new area.
- The deal will bring new innovation and competition to mobile advertising, and will lead to more effective tools for creating, serving, and analyzing emerging mobile ads formats.
- This deal will benefit developers, publishers, and advertisers by improving the performance of mobile advertising, and will provide users with more free or low-cost mobile apps.
- The mobile advertising space will remain highly competitive, with more than a dozen mobile ad networks. The deal is similar to mobile advertising acquisitions that AOL, Microsoft, and Yahoo have made in the past two years.
Wrap-up:
An average individual might say 3/4 of a billion dollar shell-out of BIG G might be an overkill but in fact it isn’t. Now, that the Android powered smartphones are being released round-the-clock, one could realize how it’s important for Google to have a premium advertising support for its supported gadgets. For what it’s worth, didn’t google made billions out of highly-targetted ads using Adsense? Perhaps its time to bring the game on Mobile now.
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