Google Puts Down $750 Million for AdMob
Posted by on November 13th, 2009 View Comments
Posted in Business, Miscellaneous |
November 9, 2009 — Earlier today, advertising giant Google announced that mobile web advertising leader AdMob will be added to their growing family. The arrangement saw an impressive $750 million in stock for AdMob, and another boost in search-based advertising supremacy for Google. AdMob, based in San Mateo, California, has been listed as the largest mobile Internet advertising company since the world-shattering rise of the smartphone. The company has over 140 employees on payroll, with ads served in 160 countries on 15,000 websites and mobile applications. Especially designed to bring the mobile environment to such devices as the iPhone, the company fills the gaps within Google’s mobile ad contributions.
The company now has tools like mobile adsense that allow users to put up ads according to related content much like they would on a laptop or desktop computer. Furthermore, Google’s disinterest in the iPhone due to competing system, Android, has instantly been filled by AdMob. Having grown exponentially since its birth in 2006, AdMob sees 10.2 billion ad impressions monthly. The numbers brought with it several interested buyers, which in turn led to endless negotiations. In the end, Google AdMob brings to Google its savoir faire in business with publishers and advertisers.
AdMob’s investors included Sequoia Capital, Accel Partners, Northzone, Draper, and Fisher Jurveston’s Growth Fund. The company received $47 million in financial support. Google’s $750 million easily makes up for the investors’ initial capital. AdMob founder Omar Hamoui couldn’t be happier with the recent events. He said, “We’re excited about the positive attention this deal will bring to mobile advertising. We have no doubt this will bring even more players into the space and accelerate all the innovation that is already taking place.” AdMob has exceeded all expectations in the short time since its launch. Last year, VentureBeat released an article on the potential of companies on the rise. It included some critical views on the corporation’s ability to stand on its own. As of today, there is no doubt.
