For a price of $750 million, Google Inc. will be acquiring mobile display ad provider, AdMob. As a result, it is expected that Google’s mobile display and search advertising reach will be significantly enhanced. The buyout of the 3 year old company is one of the largest Google has entered into signifying the push the company is making into the internet display ad market.
Even though the mobile ad market takes up a small percentage of the $24 billion spent on Internet Advertising, research company Emarketer estimates the money spent in the mobile ad market to go from $416 million annually to $1.56 billion by 2013.
Smart phone use grew by 63% year-over-year in August and touch-screen handset use increased 159% in the same period.