Sources: InMobi in talks to acquire Indian social commerce firm Shop101

Details:

• In its July 2020 financing round, Shop101 was valued at US$60 million. The acquisition could cut its valuation by half to US$30 million to US$35 million, signaling a distressed deal.
• According to one source, InMobi and Shop101 have been discussing the deal in the last few months after early talks with Indian conglomerate Reliance and US giant Amazon hit a dead end.

Context:

• In March, InMobi boosted its platform by teaming  up with Southeast Asian super app Gojek to develop its advertising, consumer intelligence, and identity resolution for brands in the region.
• In November 2020, InMobi had acquired Roposo, a video-sharing social media platform. A month after the deal, Google led a US$145 million fundraise for Glance, InMobi’s lock-screen content platform.