Advertising - Monday, November 9, 2009
Google Pays $750M In Stock For Mobile Ads' AdMob
We knew that AdMob would fetch a nice price at some point but we are suprised that Google had to pay $750M for AdMob. AdMob is known for serving display ads on iPhones, and recently started a business unit focused on ads for Android phones.
Investors in the company include Sequoia Capital, Accel Partners, Draper Fisher Jurvetson and Northgate Capital. It will be interesting to see why Google paid in stock when they are sitting on so much cash.
AdMob is just 3 years old and was founded by Omar Hamoui. He has done an outstanding job. Given that Google already has a mobile advertising platform and a much larger sales force and that there have been a number of other competitors here, hats off to AdMob for leading the pack.
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