Softbank pumps $200 mln into InMobi

Sep 15, 2011
Pedestrians pass before a branch of Japanese mobile operator Softbank in Tokyo in 2009. InMobi announced on Thursday that Japan's Softbank is pumping $200 million into the mobile ad network to ramp up global operations, particularly in Asia.

InMobi announced on Thursday that Japan's Softbank is pumping $200 million into the mobile ad network to ramp up global operations, particularly in Asia.

InMobi said it will get half the investment cash this month and the rest in April of next year.

"The size of the investment and quality of validate the enormous potential in mobile today," said InMobi founder and chief executive Naveen Tewari.

"With a global leader like Softbank behind us, we are now well positioned to fully capitalize on the opportunity before us through substantially increased product innovation, deeper market penetration, and ," he added.

InMobi launched in the United States and Europe early last year and got about $15 million in original funding from Sherpalo Ventures and Kleiner Perkins Caufield & Byers.

The mobile advertising network has about 340 million users spread across 160 countries and handles approximately 44 billion ads monthly, according to Tewari.

He cited industry figures showing that the mobile advertising market is on track to grow swiftly to $25 billion annually.

"The industry will certainly eclipse any other form of digital advertising in the next few years and we are certainly betting on it," Tewari said during a conference call.

InMobi planned to use the cash to buy or build better technologies and expand its successes in , and the United States to new markets such as China and South Korea.

More advertisers are reaching out to buyers through their mobile phones, with growth in the Asia-Pacific region outpacing the global rate, according to InMobi.

InMobi, which acts as a middleman between advertisers and mobile phone users, said the market was being driven by the phenomenal growth in smartphones.

Smartphone users usually get interactive advertisements while surfing the Web or playing games on their high-tech devices.

"I hope the partnership with InMobi will further accelerate the pace of development in the mobile Internet space globally," said Softbank chief executive Masayoshi Son.

"We believe this partnership will help become the number one Internet company in ," he said.

Softbank's investment portfolio boasts a formidable collection of Asian Internet companies.

Explore further: German chip-maker Infineon sees growth after solid Q4

add to favorites email to friend print save as pdf

Related Stories

Mobile advertisements rising in Asia

May 03, 2011

More advertisers are reaching out to buyers through their mobile phones, with growth in the Asia-Pacific region outpacing the global rate, international mobile ad network InMobi said Tuesday.

Vodafone stays in Japan with Softbank

May 18, 2006

Having washed its hands of one of the world's most competitive telecommunications markets, Britain's Vodafone is prepared to take the plunge into Japan once again, but this time with a partner.

Globe Talk: Vodafone's sayonara problems

Mar 10, 2006

The deal is not yet sealed, but expectations that Vodafone will abandon operating in Japan have already been welcomed by industry analysts. But while retreating from the competitive Japanese market might be a smart move on ...

Recommended for you

Toyota finds new air bag issue, recalls more cars

9 minutes ago

Toyota Motor Corp. recalled more than 40,000 vehicles in Japan on Thursday as part of a worldwide scare over defective air bags and is investigating a new type of air bag problem that could lead to further recalls.

Netflix sues Yahoo CIO for alleged kickbacks

14 hours ago

Netflix is suing a former company vice president who is now chief information officer at Yahoo, accusing him of receiving money from vendors he hired to work with the video streaming company.

BlackBerry courts iPhone users with cash

Nov 25, 2014

Canadian smartphone maker BlackBerry is wooing Apple customers with a cash offer for trade-ins of iPhones for its new square-screened, keyboard-equipped Passport.

HP earnings show continued struggle

Nov 25, 2014

Venerable tech giant Hewlett-Packard has been struggling for three years to turn its business around. Its latest earnings show it still has more work ahead.

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.