Twitter revealed late Monday afternoon that it has purchased mobile ad retargeting company Tapcommerce. The San Francisco-based social media giant didn't disclose the price of the transaction, but Re/code reports the deal was worth roughly $100 million.
In a blog post, Twitter vp of global sales Richard Alfonsi suggested the acquisition would boost the company's mobile ad abilities—particularly building on the momentum his team has built since acquiring MoPub in September 2013. And more specifically, it's probably looking to augment its mobile app install promos that were rolled out today for all marketers.
Though those units seem to be already performing well. Lyft, which has recently been a Twitter test partner for the ads, said its mobile app install ads cost 30 percent less than the car service had planned for.
Twitter's Alfonsi wrote today: "Combined with our other ad solutions, advertisers will be able to drive conversions and ROI with mobile consumers on and off of Twitter, across the full user lifecycle—from acquiring new users through app installs, to engaging existing users who already have the advertisers' apps on their device."
His company has been growing its mobile retargeting business since December, when it launched the offering with tech partners Adara, AdRoll, BlueKai, Chango, DataXu, [x+1] and other vendors. Tapcommerce's technology and leadership could help Twitter strengthen its ability to let brands retarget app install ads, which were coupled with a new engagement ad unit earlier today in an announcement.
Meanwhile, Twitter—which has seen its stock price consistently rise in recent weeks—continues to buy tech startups. For instance, on June 5, CEO Dick Costolo's company acquired native ads company Namo Media.