Even as the global advertising industry entered a significant contraction last winter, the nascent mobile ad market started heating up. Why? Credit the iPhone. First, publishers of new mobile applications started paying other publishers every time a user clicked on their ad to download their applications (cost per click, or CPC). Second, brand advertisers sought to reach iPhone users as they surfed more frequently on their applications. Back in November 2008, while the rest of the economy started to tank, Jason Spero, vice president of marketing for Admob, the little mobile ad company created in [...]

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