According to sources familiar with the matter, adtech startup InMobi is aiming for a valuation of around $10 billion in its upcoming initial public offering scheduled for next year. The company, currently profitable, intends to list in India and is planning to shift its headquarters from Singapore to India soon.
If successful, InMobi’s IPO in India would mark one of the largest listings by a local software startup, with most recent listings staying below the $5 billion valuation mark. InMobi plans to list at the group level, encompassing its advertising division and investments in Glance, a unicorn startup operating an Android lockscreen platform. The company is projected to generate over $700 million in annual revenue by the end of March.
Founded in 2007, InMobi was India’s first unicorn startup, but faced challenges initially in the digital advertising industry dominated by major players like Google and Meta. However, it has since developed a robust advertising platform serving a wide range of clients across various industries.
With backing from investors like SoftBank, InMobi has raised under $300 million to date. The company has made significant strides in expanding its advertising business and consumer services, notably through Glance, which delivers personalized content directly to users’ smartphone lock screens.
Glance, installed on over 450 million smartphones, is set to introduce a new version incorporating generative AI to provide tailored feeds and experiences to users. InMobi is betting on generative AI to enhance user engagement and drive commerce on its platform.
The company also plans to integrate generative AI into its advertising division to facilitate native advertising placements across various content formats. InMobi’s innovative approach to AI-driven personalization and user experience is poised to redefine the digital advertising landscape.
