InMobi, the world's largest independent mobile ad network, is set to receive a $200 million investment from Softbank, in order to boost mobile advertising.
Internet space, will help InMobi create value across the mobile ecosystem globally through advertising, mobile payments using SmartPay, and HTML5 rich media production and distribution using the recently acquired Sprout platform.
The funding will take place in two transactions - half in September 2011, and the other half in April 2012.
Softbank joins existing investors Kleiner Perkins Caufield & Byers and Sherpalo Ventures in helping InMobi become a global leader in the mobile advertising industry.
Naveen Tewari, founder and CEO of InMobi, says: “The size of the investment, and quality of investor, validate the enormous potential in mobile today, and strengthens our role in helping the industry evolve.”
“I am delighted at this opportunity to partner with InMobi, one of the world's largest mobile ad networks”, says Masayoshi Son, chairman and CEO of Softbank. “I hope the partnership with InMobi, a fast-growing start-up 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 number one Internet company in Asia, and I look forward to working with the InMobi team.”
The companies say the partnership will provide them with opportunities to further explore global scale collaboration in the fast-growing mobile ad market. It is also expected to generate further synergies between InMobi and Softbank, given the significant number of prominent Asian Internet companies in Softbank's investment portfolio, they add.
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