Japan Tech Stocks Surge as AI Optimism Lifts SoftBank, Chipmakers 
Armani Group Eyes Strategic Stake Sale to Luxury Giants 
Gold Prices Rise as Weaker Dollar and U.S.-Iran Peace Hopes Boost Demand 
Aker BP Q1 Profit Jumps on Higher Oil Prices and Asset Reversal 
Lufthansa Q1 Loss Narrows as Strong Summer Travel Demand Boosts Outlook 
Continental AG Shares Jump After Q1 Profit Beats Expectations 
Wall Street Futures Edge Higher as Iran Tensions and AI Optimism Shape Markets 
Sony Forecasts Lower 2027 Profit Despite Strong Music and Sensor Growth 
TikTok Nears $400 Million Settlement With Trump Administration Over Child Privacy Lawsuit 
JD Sports Backs Nike CEO Elliott Hill Amid Brand Turnaround Efforts 
U.S.-China Beef Trade Deal Hopes Rise Ahead of Trump-Xi Summit 
Lula and Trump Talks Signal New Phase in Brazil-US Relations 
US-Iran Ceasefire Under Pressure as Fresh Strait of Hormuz Clashes Shake Oil Markets 
Infineon Raises 2026 Outlook as AI Data Center Chip Demand Surges 
Philips Reaffirms 2026 Outlook After Strong Q1 Sales and Margin Beat 
Trump Invites Top CEOs Including Nvidia, Apple, Boeing to China Summit With Xi Jinping 
Twitter has sold its mobile ad network, MoPub, to the mobile tech company, AppLovin, for $1.05 billion. The social media giant revealed the acquisition deal on Wednesday, Oct. 6.
AppLovin will be paying Twitter in cash, and its shares reportedly jumped up to more than eight percent in extended trading after its purchase of MoPub was revealed. According to CNBC, the San Francisco, California headquartered microblogging and social networking service platform said it decided to sell
Twitter shared it decided to sell MoPub as part of its strategic plan to accelerate the development and expansion of its own revenue products. Additionally, the sale is in line with the company’s goal of achieving a $7.5 billion target revenue by the end of 2023.
“This transaction increases our focus and demonstrates confidence in our revenue product roadmap, accelerating our ability to invest in the core products that position Twitter for long-term growth and best serve the public conversation,” Twitter’s chief executive officer, Jack Dorsey, said in a press release. “We thank the incredible teams and customers who have contributed to making MoPub a success within Twitter over the years.”
The company’s revenue product lead, Bruce Falck, added that the “sale of MoPub is all about increased focus, redirecting our resources and delivering faster growth in a number of key areas including performance-based ads, SMB, and commerce.” He said they are certain that MoPub has found a perfect home in AppLovin as it continues to develop its business and service offerings for its customers.
In a separate statement, AppLovin’s CEO, Adam Foroughni, said that they are excited about the acquisition of MoPub as it gives them the opportunity to grow their own AppLovin platform. The strategic purchase will also allow them to further improve their publisher monetization tools.
The social media firm acquired MoPub in 2013 for around $350 million. In 2020, it generated $188 million in profits for Twitter, and this number is equivalent to 5.9 percent of the firm’s advertising revenue of that year. Now it is selling it to AppLovin after the company’s board unanimously voted for the sale, Reuters reported.
