Twitter Inc (TWTR) acquires Namo Media for around $50 million
Twitter Inc (NYSE:TWTR) has acquired a “native ad” company called Namo Media. Namo Media specializes in integrating the native ad content with the website where the ads are viewed. It specifically focuses on mobile ads. Twitter did not disclosed the price, but sources with TechCrunch reported that it was $50 million. Namo Media is going to be closing down its standalone operations and will integrate it into MoPub. There are around 8 employees that work at Namo that will most likely join Twitter.
“Since we acquired MoPub last October, we have been working to bring native ads to mobile app publishers in order to create a more seamless and less intrusive ad experience for users,” stated Twitter ad head Kevin Weil in a blog post. “We believe strongly that all app developers large and small should be able to monetize their applications without sacrificing the user experience.”
Twitter has around 198 million mobile users, which is around 78% of its user base. Over 75% of its ad revenues come from mobile devices as well. Namo Media co-founders Tural Badirkhanli and Nassar Stoertz both worked at Google. Stoertz worked on Google Wallet and Gmail. Badirkhanli worked on AdMob and Gmail.
Some of Namo Media’s investors were Google Ventures, Andreessen Horowitz, Betaworks, Trinity Ventures, and Susa Ventures. The company had raised slightly under $2 million.