A quick or brief look. InMobi Pte., a mobile content provider, is currently in advanced discussions to obtain a fundraising round of up to $250 million. This funding round is being spearheaded by Google, who is already a supporter of InMobi.
The purpose of this investment is to assist the Indian company in expanding and improving its position in the worldwide market. According to informed sources, the agreement is expected to be completed in the next few weeks, however, the ongoing negotiations may not result in a definitive agreement.
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Google’s heightened emphasis on the Indian market, which is the most populated in the world, is underscored by the potential funding. In this market, Google encounters competition from both local and global tech heavyweights, like Microsoft Corp., Meta Platforms Inc., and Amazon.com Inc. Google’s Android operating system continues to have a strong and influential position in India. However, Apple Inc. is increasing its competition as technology companies compete for the expanding middle class in the country.
Glance offers a unique service by providing carefully selected material directly to the screensavers of mobile devices, enabling users to get news and updates without the need to unlock their devices or launch any applications. The company has a total of more than 300 million users across India, the US, Japan, and Indonesia.
About Glance InMobi Pte.
Founded in 2019 by Naveen Tewari, Abhay Singhal, Mohit Saxena and Piyush Shah, Glance is a consumer technology company that operates disruptive digital platforms including Glance, Roposo, and Nostra.
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