Google announced the acquisition of AdMob, the search engine has agreed to pay $750 million in stock for this company which is specialized in mobile advertising. While Google already provides search ads for mobile phones, AdMob takes it a bit further with ads that show up on web pages and in mobile applications.
While Google already has text ads that accompany mobile searches, AdMob specializes in graphic ads that show up on web pages and mobile applications. AdMob collects demographic data on mobile users, and charges a premium to let advertisers choose to target professionals, teens or early adopters. While Google still makes the majority of its revenue from text ads it displays next to search results, the company has been seeking to diversify that model for years.