InMobi
InMobi is an Indian multinational technology company specializing in mobile advertising, marketing platforms, and consumer technology solutions. Founded in 2007 as mKhoj in Mumbai, India, by Naveen Tewari, Abhay Singhal, Mohit Saxena, Amit Gupta, and Piyush Shah, it pivoted to its current focus on mobile advertising in 2009 and is headquartered in Bangalore.[1][2][3][4] The company operates as a leading provider of enterprise platforms for marketers, offering cutting-edge mobile and connected TV (CTV) advertising technologies that enable brands, developers, and publishers to engage global consumers through data-driven, AI-powered solutions.[5][2] Its core mission is to transform consumer interactions with mobile and CTV surfaces into meaningful connections, blending artificial intelligence with human creativity to redefine digital experiences across advertising, entertainment, and commerce.[1][5] InMobi's flagship offerings include the InMobi Advertising Platform, a comprehensive suite for in-app advertising, programmatic buying via the InMobi DSP (Demand-Side Platform), and monetization tools like the InMobi Exchange and Meson mediation platform; it also encompasses consumer platforms such as Glance (a lock screen content discovery service launched in 2019 with over 100 million daily active users by 2020, and over 200 million monthly active users as of 2024[6]), Roposo (a video shopping and entertainment app acquired in 2019), Nostra (an online gaming platform), and 1Weather (a hyperlocal weather application).[1][5][7] Key milestones include achieving unicorn status in 2011 following a $200 million investment from SoftBank, expanding to over 1 billion mobile devices by 2015, launching the world's first programmatic mobile ad exchange in 2014, and earning IAB (Interactive Advertising Bureau) certification in 2016.[1] InMobi has been recognized multiple times for innovation, including placements on MIT Technology Review's 50 Disruptive Companies list in 2013 and CNBC's Disruptor 50 list in 2019[8], underscoring its role as a pioneer in mobile-first digital ecosystems.[9] As of 2025, InMobi is preparing for an initial public offering in India, targeting a valuation of up to $10 billion.[10]History
Founding and Early Development
InMobi was founded in 2007 in Mumbai, India, under the name mKhoj by Naveen Tewari, Mohit Saxena, Amit Gupta, Abhay Singhal, and Piyush Shah.[11][12][13][2] The company initially launched as an SMS-based mobile search engine, capitalizing on the prevalence of feature phones in a market where internet access was severely limited.[14] At the time, India's internet penetration stood at around 3-4%, with most mobile users relying on basic text messaging rather than data services.[15] Facing these constraints in the Indian mobile market, mKhoj concentrated on SMS-delivered local search services tailored to user needs, such as ringtones, logos, and cricket scores, which aligned with the popularity of short-form content on low-end devices.[16] This approach addressed the lack of widespread broadband and helped the startup gain early traction by solving immediate information gaps without requiring internet connectivity.[14] The founders recognized the potential for mobile growth but encountered hurdles like low data affordability and device limitations, prompting a strategic reevaluation.[17] In 2009, the company rebranded to InMobi to signify its pivot toward a global mobile advertising platform, moving beyond SMS to leverage emerging mobile internet capabilities.[18] This shift was supported by initial funding, including a [$500,000](/page/500) seed round in 2007 from angel investors and a $7.1 million Series A investment in 2008 led by Kleiner Perkins Caufield & Byers.[18] The rebranding enabled the launch of its core product as a mobile ad network, designed specifically for emerging markets with low-data environments, where it facilitated targeted advertising on basic mobile sites.[18]Growth and Unicorn Achievement
Following its rebranding and early product launches, InMobi experienced significant expansion in the early 2010s, driven by strategic funding rounds that enabled global scaling. In July 2010, the company raised $8 million in Series B funding from existing investors Kleiner Perkins Caufield & Byers and Sherpalo Ventures, aimed at accelerating platform development and entering new markets like North America.[19] This capital infusion supported operational growth and enhanced mobile advertising capabilities for developers and brands. The pivotal moment came in September 2011, when InMobi secured $200 million in Series C funding from SoftBank, in two tranches of $100 million each, valuing the company at $1 billion and establishing it as India's first unicorn startup.[20][21] This investment, one of the largest in the mobile internet sector at the time, fueled aggressive international outreach and technological advancements. By late 2011, InMobi's platform had grown to reach over 340 million consumers across 165 countries, delivering more than 47 billion monthly ad impressions and demonstrating its dominance as the world's largest independent mobile ad network.[22][23] As part of its diversification efforts, InMobi launched Miip in July 2015, a discovery and remarketing platform featuring an interactive animated character to enhance customer engagement for brands beyond traditional advertising.[24] Designed for mobile apps, Miip enabled personalized product recommendations and commerce integrations, partnering initially with retailers like Amazon.in to bridge advertising and consumer discovery in markets like India. Operational scaling during 2012–2015 further solidified InMobi's global footprint, with expanded offices in key markets including the US (San Francisco headquarters), UK (London), and Asia (Beijing, Shanghai, and Tokyo).[25][26] These locations supported talent acquisition and localized strategies, growing the workforce and ad network to serve diverse regions amid rising mobile adoption.[27]Recent Milestones and Diversification
In the late 2010s, InMobi began diversifying its portfolio beyond core mobile advertising by launching Glance in 2019, a lock screen-based content discovery platform that delivers personalized news, entertainment, and commerce experiences directly to users' smartphones without requiring app downloads.[1] This innovation marked a strategic pivot toward consumer-facing technologies, leveraging AI to curate content and reduce reliance on traditional ad formats. By 2024, Glance was available on over 450 million smartphones across markets including India, the United States, and Japan, with approximately 200-300 million active users, thereby establishing InMobi as a key player in the "screen zero" economy where lock screens serve as primary content gateways.[6][28] InMobi's innovative trajectory earned it significant industry accolades during this period. In 2018, the company was ranked No. 3 among Fast Company's Top 10 Most Innovative Companies in India, recognized for its advancements in mobile marketing and data-driven personalization.[29] The following year, InMobi secured the 12th position on CNBC's 2019 Disruptor 50 list, highlighting its role in revolutionizing content delivery and advertising through platforms like Glance.[8] A pivotal financial milestone came in fiscal year 2023 (ending March 2023), when InMobi achieved a net profit of $41 million, a turnaround supported by robust growth in its diversified segments. This profitability was largely propelled by Glance's expansion, which saw 77% revenue growth to approximately $38.7 million, fueled by strong user adoption in key markets such as the United States, Japan, and India.[30][31] In September 2024, InMobi secured $100 million in debt financing from MARS Growth Capital to support acquisitions and growth.[32] In May 2025, the company announced plans to invest $200 million in its AI commerce platform and generative AI ad tech stack ahead of an IPO.[31] Looking ahead, as of November 2025, InMobi plans an initial public offering in late 2025 at a group level, while Glance is expected to achieve profitability in FY25 with a potential separate IPO thereafter.[30][10] This move aligns with broader diversification efforts, positioning Glance for independent scaling while complementing InMobi's adtech foundations.Products and Services
Core Mobile Advertising Platform
InMobi's core mobile advertising platform is a cloud-based system designed for programmatic delivery of mobile ads, supporting real-time bidding (RTB) and functioning as a demand-side platform (DSP) to enable advertisers to purchase inventory across multiple sources.[33][34][35] Launched in 2009 following the company's pivot from an SMS-based service, the platform initially focused on mobile ad networks before expanding into full programmatic capabilities.[1][36] In 2014, InMobi introduced native advertising formats to integrate ads seamlessly into app environments, minimizing user disruption while maintaining engagement.[37] This innovation included a dedicated native ads platform that adapts creative assets across publishers and a programmatic exchange powered by Rubicon Project for scalable distribution.[38] The platform supports a range of ad types, including display banners, video, and interactive formats, optimized for both iOS and Android ecosystems through SDK integrations.[39] AI-driven targeting leverages data on user location, behavior, device characteristics, and interests to deliver personalized campaigns, with features like the Helix AI layer enhancing full-funnel strategies since 2025.[40][33][41] It integrates with over 23,000 app developers and publishers worldwide, facilitating access to premium inventory and serving billions of ad impressions monthly to establish significant scale in the mobile ecosystem.[42][43] Evolving from its SMS roots, the platform now complements consumer-facing tools like Glance by providing backend ad serving for broader reach.[1]Glance Content Discovery Platform
Glance is an AI-powered content discovery platform developed by InMobi, launched in 2019 as a lock screen experience that delivers personalized news, videos, entertainment, and other content directly to users' smartphones without requiring app downloads.[1] The platform leverages artificial intelligence to curate content based on user preferences, location, and behavior, transforming the traditionally static lock screen into an interactive feed that integrates seamlessly with the device's operating system.[44] This app-less model enables instant access to bite-sized media, fostering high engagement by capitalizing on the frequent moments users interact with their phones.[6] A key aspect of Glance's growth strategy involves strategic partnerships with major device manufacturers, including Samsung, Xiaomi, Vivo, OPPO, and Realme, to pre-install the platform on new Android smartphones.[45] These collaborations have enabled Glance to reach pre-installed on over 450 million devices globally as of 2025, with a strong emphasis on emerging markets such as India and Southeast Asia where smartphone penetration is rapidly increasing.[46][47] By embedding directly into hardware, Glance ensures broad accessibility and minimal user friction, positioning it as a default entry point for digital content consumption in high-growth regions.[48] Glance monetizes through non-intrusive integrated advertising and e-commerce features, where brands can deliver targeted promotions alongside curated content, and users can make purchases via one-tap actions.[49] The platform has achieved significant scale, with over 300 million monthly active users worldwide as of 2025 and average daily engagement of around 25 minutes per user, reflecting its effectiveness in retaining attention during idle moments.[47][50] This user-centric approach not only drives content virality but also supports InMobi's broader ecosystem by funneling engaged audiences into its core advertising infrastructure.[47] The platform has expanded into key international markets, including India as its primary base, the United States through enhanced Samsung integrations, and Japan via targeted Android deployments.[51] In these regions, Glance adapts content localization and partnerships to cultural preferences, aiming for sustained growth.[52] InMobi anticipates Glance achieving profitability by fiscal year 2026, supported by rising revenues from commerce and ads amid its diversification efforts.[30]Additional Tools and Innovations
InMobi initially operated as mKhoj, a SMS-based search engine launched in 2007 that allowed users to query information via text messages, but the company phased out this service post-2008 to pivot fully toward mobile advertising amid the rise of smartphones and app ecosystems.[53][54] In 2015, InMobi introduced Miip, a discovery and remarketing platform designed to facilitate brand-consumer interactions by delivering personalized product suggestions, content feeds, and app recommendations across mobile apps, leveraging user behavior to create "mobile moments" for engagement.[24][55] The platform featured an animated monkey mascot to guide users interactively, but InMobi discontinued this mascot-driven component in 2016 to refine its focus, while continuing elements like remarketing capabilities that supported push notifications and targeted commerce interactions for e-tailers.[56][57] InMobi's consumer ecosystem also includes other platforms such as Roposo, a video shopping and entertainment app acquired in 2019 that enables live commerce and short-form video content; Nostra, an online gaming platform launched to provide mobile gaming experiences; and 1Weather, a hyperlocal weather application offering personalized forecasts and alerts. These tools contribute to InMobi's diversified offerings, with the broader consumer business reaching approximately 350 million active users as of 2025.[5][58] Following the 2021 deprecation of third-party cookies and Apple's IDFA changes, InMobi advanced privacy-compliant technologies, emphasizing contextual targeting that analyzes device, session, and app content data to infer user interests without relying on personal identifiers, thereby maintaining ad relevance in a cookieless environment.[59][60] A 2022 Forrester study commissioned by InMobi highlighted how such approaches, including AI-driven contextual signals, help mitigate the impact of identity signal loss on mobile advertising effectiveness.[61] InMobi has integrated AI for fraud detection in ad bidding processes, deploying sophisticated algorithms to identify and filter invalid traffic, such as bot activity and sophisticated invalid traffic (SIVT), before auctions occur, ensuring advertisers receive genuine impressions.[62][40] Partnerships, including with HUMAN Security in 2021, enhanced pre- and post-bid mitigation, achieving accreditations for detecting hard-to-spot fraud types and reducing wasted ad spend.[63]Operations
Global Presence and Offices
InMobi is headquartered in Bangalore, India, at Embassy Tech Square, and operates 22 offices across 12 countries spanning five continents as of 2025.[64] Its major campuses include locations in San Francisco and New York in the United States, London in the United Kingdom, Shanghai and Beijing in China, Tokyo in Japan, and Singapore.[3] Additional offices support operations in key markets such as Hong Kong, South Korea, and Indonesia, with a recent expansion to Lucknow, India, in August 2025, aimed at fostering deep-tech innovation in AI and automation. The facility is projected to create around 500 direct jobs in deep-tech roles, contributing to over 3,000 direct and indirect employment opportunities.[65][66] The company's global workforce totals approximately 2,500 employees as of 2025, with the largest hubs concentrated in India—particularly Bangalore and the new Lucknow facility—and the United States, where San Francisco and New York serve as primary centers for sales, engineering, and client services.[67] This distribution reflects InMobi's emphasis on leveraging talent pools in technology-driven regions while maintaining proximity to major advertising markets. InMobi's regional strategies prioritize the Asia-Pacific area, where it maintains a dominant footprint through localized ad tech solutions and partnerships, driving the bulk of its operations in high-growth mobile markets.[64] The company has expanded in North America by establishing key offices and integrating capabilities from prior strategic moves, while venturing into emerging markets in Africa and Latin America to tap into rising mobile adoption. To address varying regulatory landscapes, InMobi implemented GDPR compliance across its European operations starting May 25, 2018, ensuring data protection standards for EU users through consent mechanisms and SDK updates.[68][69]Leadership and Workforce
InMobi's leadership is anchored by its founder Naveen Tewari, who serves as CEO and drives the company's strategic vision in mobile advertising and consumer technology.[70] Other co-founders include Mohit Saxena, who remains as CTO overseeing technical innovation, while Amit Gupta has exited to pursue other ventures, and Abhay Singhal serves as Co-Founder and CEO of InMobi Advertising.[2][71][4] Key executives complement this foundation with specialized expertise in technology and finance. Piyush Shah, a co-founder, acts as President and COO of Glance, leveraging his product development background to advance AI-driven content platforms.[2] Marc Steifman serves as CFO, bringing over two decades of investment banking experience in growth-stage companies to manage financial operations and scaling efforts.[72] The company's workforce, numbering approximately 2,500 employees as of 2025 across engineering, sales, and product teams, fosters a culture centered on innovation and collaboration.[67] InMobi emphasizes an open environment that encourages big-picture thinking and complex problem-solving, supported by programs like personalized coaching to accelerate career growth and adaptability.[73][74] Diversity, equity, and inclusion (DEI) have been a priority since 2020, with initiatives promoting an inclusive workplace where employees can bring their authentic selves.[75] As of recent assessments, women comprise about 44% of the workforce, reflecting efforts to enhance gender balance through targeted support and cultural programs.[76]Financial Performance
Funding and Valuation History
InMobi's funding journey began with a seed round of $0.5 million in August 2007, led by Mumbai Angels, providing initial capital for its mobile advertising ambitions.[77] This was followed by a $7.1 million Series A in April 2008 from Sherpalo Ventures and Kleiner Perkins, enabling platform expansion.[77] A $8 million Series B came in July 2010, supporting global scaling efforts.[77] The company's breakthrough arrived with a $200 million Series C in September 2011, led by SoftBank Vision Fund, which valued InMobi at $1 billion and marked it as India's first unicorn startup.[77] Subsequent equity infusions included a $5 million Series C extension in December 2014, an undisclosed Series C from Lightbox in January 2019, and a $45 million Series D from Mithril Capital in September 2019.[77] InMobi also secured debt financing, such as $100 million from Tennenbaum Capital Partners in September 2015 and another $100 million from Mars Growth Capital in September 2024, to fuel operations without diluting equity.[77] Overall, these efforts have amassed approximately $266 million in total funding across nine rounds.[77] Valuation milestones reflect InMobi's growth trajectory. The 2011 SoftBank investment established its unicorn status at $1 billion.[77] By 2021, amid plans for a U.S. IPO that were ultimately shelved, the company targeted a valuation of $12 billion to $15 billion.[78] As of late 2025, InMobi is preparing for an Indian IPO targeted for the second half of 2025 with an anticipated valuation of $5-6 billion.[79] Post-2015, InMobi shifted toward profitability and self-sustainability, relying less on frequent venture capital raises and opting for targeted debt to support strategic initiatives like AI development.[77] Key long-term investors include SoftBank Vision Fund and Kleiner Perkins, alongside later participants like Mithril Capital and Lightbox.[77]| Round | Date | Amount | Lead Investors | Valuation |
|---|---|---|---|---|
| Seed | Aug 2007 | $0.5M | Mumbai Angels | - |
| Series A | Apr 2008 | $7.1M | Sherpalo Ventures, Kleiner Perkins | - |
| Series B | Jul 2010 | $8M | Undisclosed | - |
| Series C | Sep 2011 | $200M | SoftBank Vision Fund | $1B |
| Series C Extension | Dec 2014 | $5M | Undisclosed | - |
| Venture Debt | Sep 2015 | $100M | Tennenbaum Capital Partners | - |
| Series C | Jan 2019 | Undisclosed | Lightbox | - |
| Series D | Sep 2019 | $45M | Mithril Capital | - |
| Conventional Debt | Sep 2024 | $100M | Mars Growth Capital | - |