$40 million of the amount will be used to pay off the debt raised last year from Hercules Technology Growth Capital. Earlier also the company had raised debts from Hercules Technology Growth Capital and Tennenbaum. Recently, InMobi launched Miip, a product based advertising platform.
.The app store is part of Paytm/InMobi partnership and is primarily focused on getting a pie of the app download dollars being spent by the well funded startups.
Sellers on Paytm will now have access to InMobi’s 120 million mobile Internet users through its Miip d-commerce platform. The Paytm digital wallet will also power the Buy button on the Miip platform. Further, apps and games from Miip will be available on a digital goods section on the Paytm app.
Unlike traditional push-based advertising, Miip will capture a consumer’s attention through stories stitched together based on a strong unifying theme. Miip extracts content from other existing apps and makes them accessible within the discovery zone.
Developed markets of North America and Europe accounted for the largest chunk of devices, while Asia Pacific was second followed by Latin America
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Ad requests (per day) : 4.8 billion per day
Please note that with this closure, apps submitted via App Publish will start being unpublished from partner app stores.
Inmobi has announced a native exchange platform where marketers can buy and sell ads online across mobile sites and apps.
Japanese telecommunication giant Softbank has written off all or a major part of its $200 mn investment in mobile ad network InMobi.