InMobi Unit: Glance nears unicorn status

CIOReviewIndia Team | Tuesday, 08 September 2020, 04:15 IST

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InMobi Unit: Glance nears unicorn status

Setting to hit a valuation of more than $1 billion with its upcoming funding round, India’s first startup unicorn InMobi Group may see another emerge from the group as its mobile content platform Glance. Also, it houses the short-video app Roposo.  

In the country that spends over 30 minutes on the platform, Roposo and Glance together have more than 100 million daily active users .

“We believe the valuation of InMobi’s B2C business is certainly beyond that of a unicorn. And in the coming fundraise, it will definitely be valued over $1 billion; we are clear about it," said Naveen Tewari, founder and CEO of InMobi, a global advertising technology firm. He said Glance is expected to raise funds in the next six months, even while Tewari declined to comment on the fundraising. 

“No one can build a significantly large business in India by pegging themselves only on advertisements. Unlike the US market, per capita ad spending in India is much less. Now with Glance and Roposo having significant outreach, we want to leverage an individual’s talent and creativity, to convert them into entrepreneurs. This is all while replicating the offline-buying behaviour, online," added Tewari.

Currently,  as the company plans to enter the ‘influencer commerce’ segment by the year-end, InMobi’s focus would be to build new revenue streams on the Roposo platform.

 
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