Admob is sold to Google for $750 million

$750 million for the mobile advertising company started three years ago.  Mobile is hot, thanks to the iPhone.  Don’t take it from us.  In the words of Admob’s founder:

Then came the iPhone. Suddenly, Apple solved so many problems that had plagued mobile for so long. They showed all of us the way forward and their efforts have led to a landslide of rapid improvements in our space. We were so excited by the promise the iPhone represented that we shifted a significant portion of our attention to that device in its very early days. We launched the first iPhone ad units focused on the web and quickly added the capability to run ads in applications. Now with the addition of excellent devices from Palm, Nokia, RIM, and plethora of Android powered smartphones, we have all the preconditions necessary for what will be a tidal wave of mobile browsing and app usage. But let there be no mistake. Our business, and the mobile industry in general, owes Apple a debt of gratitude.

The deal also makes Google a little bit more scary in the mobile space now that they own a platform and the lion’s share of the advertising on other platforms.