Adtech firm InMobi prepares for Nasdaq listing to reach $15 billion valuation

• Inmobi Bengaluru-based startup has announced about listing on Nasdaq to seek a valuation of over $15 billion through its listing.
• Inmobi has made a record in the Indian Internet space after they received funding of $200 million from the Japanese investment firm in 2011.
• The company believes that Nasdaq listing will amplify the value for investors and will back up the company’s expansion plan.

Softbank-backed Inmobi recently announced that it is targeting to raise funds by listing IPO (Initial Public Offering) on Nasdaq by this December and according to the company’s official the platform will seek a valuation of over $15 billion through its listing.

Nasdaq is an electronic platform where investors globally buy and sell securities. It was set up by the National Association of Securities Dealers (NASD) to enable investors to trade securities virtually on an e-platform through a speedy and transparent system.

Popularly known as the first technology startup from India to break the unicorN MILESTONE, Bengaluru-based Inmobi has already started talks with some global bankers including JP Morgan Chase, Morgan Stanley, and Goldman Sachs to efficiently manage the proposed listing process from start to an end.

“The listing will unlock the value for investors and the funds will use to fuel our global expansion dream," The adtech firm Inmobi said.

Inmobi made a record in the Indian Internet space after they received funding of $200 million from the Japanese investment firm in 2011.

The platform was co-founded by Harvard Business School alumnus Naveen Tiwari, it is a platform that develops an advertisement serving algorithm that helps in optimizing the ranking of the advertisements served on mobile phones. As of  March 2021, Inmobi has raised total funding of $321 million approx from six investors. With the fund, the firm ameliorates the performance of the company with the surge in revenue every year.

“The reason why the (public) market was not very bullish on the adtech sector because they thought the whole market would be taken by Google and Facebook, which didn't happen,” he said. “They will be the largest players, don’t get me wrong, taking about 60-70% of the market. But the 25-35% market will be left for others. The ad tech market is massive especially after the Covid year 2020.”

InMobi, which positions itself as an open adtech platform also competes with firms such as Mobvista, The Trade Desk, Magenta, Affle, and Criteo. The Bengaluru-based firm powers the ad sales for Microsoft’s search engine Bing with the Seattle-based technology major taking InMobi’s marketing automation platform to its global customers. InMobi’s applications run on the Microsoft Azure Cloud.

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InMobi also owns a majority stake in the lock screen content platform Glance, which has over 115 million users and plans to take it global. The Glance unit, which had raised $ 145 million from Google and Mithril Capital for its lock screen content platform, owns short video platform Roposo, which it acquired soon after the exit of TikTok from India last year.

InMobi had faced severe business challenges in 2015 due mainly to competition from Google and Facebook, it has since turned the business around and claims that it has been profitable at the operating level since 2016.

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