Feeds

Softbank bets $US200m on mobile ad network

InMobi scores biggest VC deal of the year

Gartner critical capabilities for enterprise endpoint backup

The world’s largest indie mobile advertising network InMobi has received a $US200 million cash infusion from Japan’s Softbank.

The transaction represents one of the biggest venture capital deals of the year and eclipses all mobile VC investments. InMobi, which launched in 2007, claims it can currently serve ads on 340 million mobile phones in 165 countries.

The deal will be split in two payments of $US100 million each, one this month and the other in April 2012.

InMobi says it will remain fully independent in its expansion phase. The investment will be used to fund R&D and acquisition in addition to expanding operations and hiring more staff in North America, China, Korea and Europe. InMobi currently employs 350 people in offices across 15 countries.

In August, InMobi acquired mobile media builder Sprout and has launched a new mobile payments product called SmartPay to rival Google Wallet.

“The size of the investment and quality of investor validate the enormous potential in mobile today and strengthen our role in helping the industry evolve. With a global leader like Softbank behind us, we are now well positioned to fully capitalize on the opportunity before us through substantially increased product innovation, deeper market penetration, and acquisitions across the mobile ad value chain,” said Naveen Tewari, founder and CEO of InMobi.

Softbank joins existing investors Kleiner Perkins Caufield & Byers and Sherpalo Ventures.

Global mobile ad spending is forecast to hit $US20.6 billion by 2015, up from $US1.6 billion last year, according to Gartner, with the Asia-Pacific and Japan expected drive spending. ®

Boost IT visibility and business value

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Fast And Furious 6 cammer thrown in slammer for nearly three years
Man jailed for dodgy cinema recording of Hollywood movie
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Barnes & Noble: Swallow a Samsung Nook tablet, please ... pretty please
Novelslab finally on sale with ($199 - $20) price tag
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Scale data protection with your virtual environment
To scale at the rate of virtualization growth, data protection solutions need to adopt new capabilities and simplify current features.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?