AdMob founder Omar Hamoui and the company’s first engineer Mike Rowehl has partnered with venture capital firm Sequoia Capital to launch Churn Labs. Churn Labs will be a startup incubator similar to Idealab. Churn Labs currently has 5 employees across 2 offices (San Mateo and Irvine). They hope to average 12 employees and will be spending about $2 million per year on operations. The target is to give startup employees around 60% equity in spun off companies while Churn will maintain 40% ownership. Sequoia will also get a part of equity in each startup, but won’t have any other rights. [TechCrunch]

Offermatic is a free online service that helps people save money automatically through your credit or debit card. Offermatic has raised $4.5 million in Series A investment led by Kleiner Perkins Caufield & Byers, SV Angel investor Ron Conway, former AdMob CEO Omar Hamoui, and early execs from Facebook/Mint.com. Hamoui will be joining the board of directors. Offermatic launched in beta in December 2010. By linking existing credit cards and debit cards to Offermatic, people can receive discounts on products and services without having to redeem coupons.

AdMob CEO Omar Hamoui has stepped down from Google Inc. (NASDAQ:GOOG) after working there for five months. Google acquired AdMob last November for $750 million. Hamoui is leaving for personal reasons. Between November 2009 and May 2010, Google’s acquisition of AdMob was held up because of federal investigation. AdMob employees’ incentives began to vest when the deal was completed around November 2009. Supposedly AdMob’s integration into Google has not been going swimmingly. Many executives are leaving Google as a result. Anytime an AdMob employee has an idea, it has to go through many layers and departments at Google. [TechCrunch]

Google’s mobile advertising company AdMob announced that the changes in Apple’s terms of service is “great news.” Google VP of Product Management Omar Hamoui said that that the new terms allows Apple’s developers to choose from a variety of advertising solutions including Google’s AdMob.

AdMob CEO Omar Hamoui said that Apple’s new advertising rules “prohibit app developers from using AdMob and Google’s advertising solutions on the iPhone.”

Google Inc. (NASDAQ:GOOG) has been given the greenlight by the FTC to acquire AdMob, the company founded by Omar Hamoui. AdMob is a mobile advertising company that provides a platform and advertising inventory for iPhone and Android applications. “Throughout the FTC’s review process, it’s been clear that mobile advertising is growing rapidly. As mobile phone usage increases, growth in mobile advertising is only going to accelerate. This benefits mobile developers and publishers who will get better advertising solutions, marketers who will find new ways to reach consumers, and users who will get better ads and more free content,” stated Google VP of Product Management Susan Wojcicki. Apple’s acquisition of Quattro Wireless most likely helped Google’s case. [Google Blog]

AdMob is becoming a property of Google Inc. (NASDAQ:GOOG), but the company has not been slowing down since the acquisition announcement. The company announced earlier this week that they will support video advertisements for the iPhone and iPod Touch. iPhone and iPod Touch users will still be able to surf the web or watch other videos while the video ad is playing. Videos are saved as different file sizes and will play different qualities based on the user’s connection. For example, higher quality videos will play when a user is on a WiFi or 3G connection.

“AdMob’s new Interactive Video Ad Unit brings together consumers’ love of watching videos on their mobile device with advertisers’ goal of providing an interactive, social experience for consumers,” stated AdMob Founder and CEO Omar Hamoui. “We are excited to create new ways for advertisers to engage with consumers on their mobile devices and for the developers behind the most popular and engaging iPhone applications to effectively monetize.”

AdMob is one of the biggest advertising mobile companies.  Most iPhone application developers sign up with AdMob as their advertising broker.  AdMob just got a little bigger after announcing the acquisition of AdWhirl.

AdMob CEO Omar Hamoui said that the acquisition was made to create a transparent mobile ad exchange.  Interestingly two months ago AdMob and AdWhirl were not playing nice with each other.

On July 22nd, AdMob wrote a blog post stated, “AdMob will no longer serve ads requested from iPhone apps that employ ad network mediation layers such as AdWhirl or Tapjoy.  This change will enable us to provide our publishers and advertisers, as well as end users, with the best possible experience and results.”

The acquisition amount is not substantial because AdWhirl does not have much cash on hand nor do they have licensing deals in place with ad partners.  AdMob’s traffic declined since they decided to stop using mediation layers.  Quattro, another big iPhone ad company put their support behind AdWhirl. AdMob bought out AdWhirl for their assets, not for the company itself.