IPO-bound InMobi Cofounders Buy Back $250M Stake From SoftBank

The cofounders of adtech company inmobi have bought back about 25–30% of the stake from early investor SoftBank, cutting the Japanese firm’s share from around 35% to under 8%, as the startup gets ready for its public listing.

After the buyback, cofounders Naveen Tewari, Mohit Saxena, Abhay Singhal, and Piyush Shah now collectively own about 60% of the unicorn, according to media reports.

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InMobi raised $350 million in debt from Varde Partners, Elham Credit Partners, and SeaTown Holdings to fund the buyback. The loan is split into two parts: $200 million for the main operating company and $150 million for the holding company. It is secured against the cofounders’ stake in the startup.

SoftBank is estimated to have received around $250 million from the deal, slightly more than the $200–220 million it invested in 2011, which helped InMobi become a unicorn. The firm had reportedly written off its stake in InMobi in 2016.

Founded in 2007, InMobi offers marketing and monetization solutions for brands, advertisers, and publishers, and also runs Glance and Roposo.

InMobi operates in over 165 countries, helping businesses reach their target audiences on mobile platforms and boost user acquisition and engagement. Headquartered in Singapore, it also has a major presence in San Francisco and offices worldwide.

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The company last raised $100 million in debt from MARS Growth Capital, a partnership between MUFG and Liquidity Group.

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