Node.js is a JavaScript runtime built on Chrome's V8 JavaScript engine that allows for writing server-side code in JavaScript. It has a single-threaded, event-driven architecture that makes it efficient for data-intensive real-time applications. Some key advantages of Node.js include using JavaScript for both client-side and server-side code, high performance due to event-driven and non-blocking model, and rich ecosystem of third-party modules. Mobile web apps can be built with Node.js by using HTML5 features and JavaScript on the server and client sides.