Last November, Google announced that it had acquired leading mobile ad network AdMob for a whopping $750 million. Today, less than a year after the deal closed, AdMob CEO Omar Hamoui is leaving Google, we’ve confirmed with the company.
Google is getting the short end of the stick here — Hamoui has actually only been able to work at the search giant for five months, because the AdMob/Google acquisition was held up by an endless federal investigation that stretched on from November 2009 through the end of May 2010 — an eternity in this highly competitive space.
From what we’ve heard AdMob’s employees began having their incentives vest as soon as the deal completed in October/November 2009, not when it was ultimately approved in May 2010. In fact, we’ve heard that Hamoui isn’t the only AdMob executive to leave after a short stay — we’re working to get a more detailed list of other personnel who may have also left Google.
A Google spokesperson gave us this statement:
“Omar has decided to leave AdMob and Google for personal reasons. He built a fantastic business in a short period of time, and we wish him all the best. Mobile advertising – across search and display – is now a billion dollar business for Google, with AdMob a key part of that. Google is fortunate to have a great team of leaders who are driving the next phase of rapid growth and innovation across all our mobile ads products.”