InMobi, India's first digital business to be valued over $1 billion, now acquires a British start-up to boost its perf...
InMobiwill be looking to invest more as Appsumer’s business grows further, InMobi’s growth platforms head Navin Madhavantold Business Insider.
- Appsumer offers extensives insights into the companies’ marketing spend across 100 channels.
- Though Appsumer will continue to work as an independent entity under the InMobi banner, their team will join InMobi.
The two companies have not shared any financial or transactional details about this acquisition.
InMobi will be looking to invest more as Appsumer’s business grows further, Navin Madhavan, vice president and general manager of growth platforms at InMobi, told Business Insider.
Appsumer — which was founded in 2015 by Shumel Lais — offers extensives insights into the companies’ marketing spend across 100 channels. Appsumer claims that customers access the platform more than five times each week on an average, making it a central part of their performance marketing operations.
It also counts communications platform Viber, dating app Lovoo, train ticketing platform Trainline, real-time casual gaming platform Huuuge Games as its clients.
“The solution makes it easy to map all mobile performance media investment to business outcomes,” Abhay Singhal, cofounder of InMobi Group and CEO of InMobi Marketing Solutions, said.
InMobi aims to solve a different kind of problem
Madhavan added that InMobi is already solving and offering solutions to biggest digital advertisers — which includes large ecommerce and digital-first players. Appsumer will provide a different sort of offering that can help companies get better and deeper insights into their marketing campaign. Hence, it is solving a different kind of problem, he added.
InMobi, however, will be looking to experiment with predictive analytics through artificial intelligence (AI) to help Appsumer users make better marketing decisions.
According to case studies available on Appsumer platform, its clients were able to reduce time spent on data aggregation and reporting as well as on strategy, optimisation and creativity. “The intel is we make it into an efficient workspace and a hub for marketers to track performance and make decisions faster,” Madhavan added.
The mobile marketing company has raised $5 million to date from investors like Galvanise Capital, M&C Saatchi Mobile’s James Hilton, Uptime App’s Jon Claydon and SyndicateRoom, among others. It was also named among the Top100 UK start-ups.
InMobi to facilitate faster growth
Though Appsumer will continue to work as an independent entity under the InMobi banner, their
team will join InMobi to further develop their automation offering. InMobi will facilitate faster growth for Appsumer, Madhavan added.
InMobi — which is India’s first digital company to be valued over a billion dollars — was founded by Naveen Tewari, Abhay Singhal, Piyush Shah, Mohit Saxena and Amit Gupta in 2007. It was the first Indian digital business to be valued over $1 billion.
The company is now looking to go public in the US market by next year. Though the company’s current valuation is undisclosed, the company is expected to list on Nasdaq at a valuation of $12-15 billion by the end of 2022.
InMobi is also the parent company of personalised content provider Glance, which too is valued at over a billion dollars. Mukesh Ambani-led Reliance is reportedly planning to invest $300 million in this subsidiary.