Google may own online ads but it still needs to figure out mobile, and it’s betting YieldMo can help


Google’s (s goog) dominance in online advertising is no secret — it controls an estimated 40 percent of the $42-billion market — and it has a similar share of the mobile ad market. But traditional tools like AdSense aren’t doing as well in mobile as they are on the desktop, which helps explain why Google Ventures just invested in a competitor to AdSense by leading an $8-million financing round in a New York-based mobile advertising startup called YieldMo.

According to YieldMo founder Mike Yavonditte, the search giant is so eager to figure out how advertising can be improved for mobile apps and websites that when he visited Google Ventures to describe what YieldMo does with advertising, “they basically said yes on the spot.”

While much of the mobile advertising market consists of ad networks and exchanges — which produce low-margin, commoditized banner and display ads — Yavonditte says YieldMo…

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