MOUNTAIN VIEW, Calif. (AP) -- Google Inc. is stepping up its push to sell advertising on cell phones, announcing a deal Monday to buy a mobile ad network, AdMob, for $750 million in stock.
Google already has a mobile ad delivery system, DoubleClick Mobile, which it got with its $3.2 billion acquisition of DoubleClick Inc. in 2008. Google said buying AdMob will give it more expertise in a market that is expected to grow rapidly over the next several years.
Google shares rose $9.84, or 1.8 percent, to $560.94 in afternoon trading.
Omar Hamoui founded AdMob in 2006. The company, which is based in San Mateo, Calif., provides a market for advertisers to buy space on Web sites geared for mobile devices.
"Mobile advertising has enormous potential as a marketing medium and while this industry is still in the early stages of development, AdMob has already made exceptional progress in a very short time," Susan Wojcicki, Google's vice president of product management, said in a statement.
Copyright 2009 The Associated Press.
A lot of the ad sponsored applications on the Apple iPhone use this network. Often you can skip the ads by purchasing the paid application version. This will give Google an opportunity to earn money even on competing mobile devices to the Android.
Manufacturing in the United States is in trouble. That's bad news not just for the country's economy but for the future of innovation.
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cyberpageman
53 Comments
Ugh
Does this mean Google will be sending ads to my cell phone? Or just the gPhone? I hope the "Do Not Call" list applies to cell phones.
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rttedrow
63 Comments
Re: Ugh
I understand that the "no call list" does apply to cellular phones. Unfortunately the most pernicious annoying calls -- political -- are exempt. Also unfortunate, the "no call list" doesn't seem to work very well.......
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