InMobi, an Indian advertising technology firm backed by Google, is increasing its investments in AI ahead of a public listing in India later this year.

The company plans to allocate US$200 million towards its AI commerce platform, Glance AI, and a generative AI ad tech stack expected to launch by the end of 2025.

Glance AI, developed with Google, is live in 140 countries, with Google holding a 10% stake and InMobi 50.5%. Glance has raised US$390 million and is valued at US$1.7 billion.

In the fiscal year 2023, InMobi reported revenues of US$268 million and profits of US$42 million. Glance generated US$38.7 million in revenue but had a loss of US$130 million.

InMobi plans to raise more funds for Glance before its IPO.

The company is also integrating its technology into smartphones, TVs, and digital retail stores, partnering with Motorola, Verizon, Android TV, and Airtel, aiming to reach 50 million users within 100 days of launch.

🔗 Source: The Economic Times

🧠 Food for thought

1️⃣ InMobi’s strategic pivots reflect its ability to reinvent with market trends

InMobi’s AI investment represents its third major strategic pivot since inception, demonstrating remarkable adaptability in the fast-changing tech landscape.

The company began in 2007 as mKhoj, a mobile search platform, before pivoting to mobile advertising—a move that ultimately led to profitability in Q4 2016 after surpassing 1 billion active devices1.

By 2019, InMobi had built a global advertising network reaching 1.64 billion devices across 20+ countries, positioning itself as a credible competitor to giants like Facebook and Google2.

This latest $200 million investment in AI commerce shows InMobi’s pattern of reinvention, transforming from SMS-based services to advertising to AI-powered commerce platforms while maintaining its core expertise in mobile consumer engagement.

The company’s history of successful pivots helps explain why it has attracted prominent investors like SoftBank and Google despite competing in markets dominated by tech giants.

2️⃣ India’s maturing tech ecosystem increasingly producing global competitors

InMobi’s upcoming IPO reflects the broader evolution of India’s tech ecosystem, which has grown from 3,100 startups in 2014 to become the world’s third-largest startup hub with over 7,500 tech startups by 201834.

Recent InMobi developments