Feeds

Softbank bets $US200m on mobile ad network

InMobi scores biggest VC deal of the year

Boost IT visibility and business value

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. ®

Build a business case: developing custom apps

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Nadella: Apps must run on ALL WINDOWS – PCs, slabs and mobes
Phone egg, meet desktop chicken - your mother
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
Microsoft: We're making ONE TRUE WINDOWS to rule us all
Enterprise, Windows still power firm's shaky money-maker
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
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.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.