Mobile Ad network InMobi has raised $200 million from Japan’s Softbank. Rebranded from mKhoj, InMobi earlier raised $8mn from KPCB and Sherpalo Ventures (in 2010) and recently launched SmartPay, a mobile payment service.
Though KPCB and Sherpalo aren’t participating in this round, Softbank’s investment will take place in two tranches, with $100 million this month and the rest in April next year (via).
“I hope the partnership with InMobi, a fast-growing startup with significant mobile expertise and an outstanding technology platform; will further accelerate the pace of development in the mobile Internet space globally. We believe this partnership will help Softbank become the No. 1 Internet company in Asia and I look forward to working with the InMobi team.” [Masayoshi Son, Chairman and CEO of Softbank.]
InMobi founder, Naveen Tewari set the stage on fire at UnPluggd2 and the lucky ones who were present at the event will recall the challenges they faced while raising funds (“Indian VCs couldn’t believe that InMobi can really make it so big.”).
What’s your take on valuation of the company? Atleast $500 million?
Insider info tells us that InMobi is valued at $450mn (post money).