InMobi’s mobile ad network -
Adding spice to already hot ‘Indian Startup‘ market , Google is in close talks to buy mobile advertising network & one of India’s largest and earliest start-up posterboy, InMobi, the planned acquisition being the USA based Internet search behemoth’s first in Indian sub-continent and part of a global strategy to tackle Facebook’s dominance in growing world of advertising on mobile devices.
Sources familiar with the deal talks said Google is soon going to initiate a technology due diligence of Bangalore based InMobi ,to be followed by discussions on various commercial terms. Although financial specs are still to be made, InMobi had been reportedly looking for a market valuation of over 2 billion dollars (Rs 12,500 crore) in the discussions with investors for the next round of funding.
As per sources , talks between Google and InMobi first were initiated last September, went dead and had started again. “Now they are now talking formally, the very next step is a tech due diligence” .
InMobi was founded by IIT’ians Amit Gupta,Naveen Tewari , Mohit Saxena and Abhay Singhal in late 2007, is among India’s earliest startup success companies. Having started life as mobile search firm ‘mKhoj’ from a 1 bedroom flat in Mumbai, it later changed its brand name, business model and grew steadily in size and profile .
News by – Investment options in India
Ad Partner – Advertisement Options in India
You may also be interested in -