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28 May 2017 12:34 (South Africa)

Google forks out $750 million for AdMob

If one wants to see where the advertising business is hoping to thrive in the near future, look at the Google’s latest purchase: AdMob, one of the US’s largest mobile advertising networks. Google is spending a colossal amount on the company that, at best, has $45 million to $60 million in annual revenue, according to JP Morgan analyst, Imran Khan. But it appears current revenue is not worrying Google. The idea is to strategically use AdMob’s network to create and distribute mobile display ads, not unlike the ones we see on websites today. Google’s free Android mobile operating system is already powering many smartphones, the platform that is expected to grow wildly in the coming years and AdMob will finally enable Google to extend its online ad domination to mobile space. Read more: Reuters

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