InMobi is reportedly aiming for a valuation of about $10 Bn in an initial public offering it is planning for next year. It aims to list in India
An IPO in India at a $10 Bn valuation would mark one of the largest listings by a local software startup
Earlier, the company was planning for an IPO in 2021 but postponed it due to market conditions
Adtech unicorn InMobi
is reportedly aiming for a valuation of about $10 Bn in an initial public offering it is planning for next year.
According to a report by TechCrunch, the company aims to list in India. InMobi, which is profitable, also plans to relocate its headquarters from Singapore to India in the coming months.
An IPO in India at a $10 Bn valuation would mark one of the largest listings by a local software startup.
Earlier, the company was planning for an IPO in 2021 but postponed it due to market conditions. With the recent recovery in tech stocks, the company is now reconsidering an IPO within the next 12-15 months.
Founded in 2007 by Naveen Tewari, Piyush Shah, Mohit Saxena and Abhay Singhal, InMobi has grown to become a leading marketing and monetisation technology provider in India and worldwide. Headquartered in Singapore, the company maintains a significant presence in Bengaluru and San Francisco. It also has operations in New York, Chicago, Kansas City, Los Angeles, Delhi, Mumbai, Beijing, London, Dubai, and several other locations.
The development comes at a time when InMobi is undergoing a strategic realignment encompassing technology, organisational structure, workforce skills, and operations, driven by the adoption of artificial intelligence.
In January, Inc42 reported that after nearly 17 years, InMobi recognised the need for technological advancement, aligning its strategy to incorporate advancements like Gen AI. This shift is anticipated to lead to the reduction of approximately 125 jobs, representing about 5% of its current workforce of 2,500 employees.
