Twitter is stepping up its performance advertising game with the acquisition of CrossInstall, a mobile-focused DSP.
CrossInstall, founded in 2012, helps app developers drive user acquisition and offers interactive creative units, such as playable ads.
“The combination of CrossInstall and Twitter will highlight Twitter’s commitment to performance advertising. Together, we’ll be working to expand Twitter’s reach into all areas of app install and performance advertising while increasing the value that MoPub [a Twitter-owned monetization platform] offers to mobile app developers. Together, we have a clear mission,” CrossIntall said in a blog post.
In the near term, CrossInstall will operate as a standalone unit to help app developers drive user acquisition campaigns with their ads. Twitter will explore integrating CrossInstall into its ad stack as it progresses through the integration, a spokesperson said.
Twitter did not disclose the financial terms of the deal.
The social media company is looking toward performance advertising as a means to drive revenue during the economic downturn caused by the coronavirus pandemic, which forced Twitter to withdraw its Q2 revenue guidance.
In its Q1 earnings report, Twitter CFO Ned Segal said the company is “shifting resources and priorities” to boost revenue and lower costs.
“Revenue product has been elevated to our top company priority, as the current environment validates and creates even more urgency around delivering more direct response ad formats,” he said.
Twitter is buying CrossInstall as the pandemic has disrupted M&A in ad tech. Investors are seeing companies delay exits while looking for technologies that will solve new business problems caused by the outbreak.