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InMobi Raises $100 Million In Debt Via Tennenbaum Capital

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Softbank funded mobile ad-tech firm InMobi has raised $100 million in debt by Tennenbaum Capital out of which nearly $40 million will be used to pay off the debt raised last year by Hercules Technology Growth Capital (HTGC), reported Economic Times.

According to an executive, the ability to raise debts indicates towards the interest of investors in the company and a mark of robust financial health. However there seems to be a disagreement among some investors who regularly invest in such ad-tech companies regarding the perceived and actual value of such firms.

Nevertheless, InMobi is often said to be one of the few Indian startups who entered a particular market segment (mobile advertising) at the right time (nearly 8 years ago in 2007) and since then has become one of the formidable names in mobile advertising industry. The company which calls itself the “world’s largest independent mobile advertising platform” competes with the likes of Google, Facebook on a global level. It is perhaps the only startup in India which is said to have 10 times more popularity in China since it entered the dragon country in 2012. InMobi recently partnered with the largest mobile big data company in China, Talking Data to strengthen its position in the country.

Despite the fact that so far it has remained one of the lesser known startups in India as compared to Flipkart and Snapdeal and other popular startups, InMobi has lately been hogging the limelight on a global level with back to back launches of its new product Miip in San Francisco, Bangalore and Beijing.

Especially the launch in Beijing grabbed the attention of many when its CEO Naveen Tewari interacted with the Chinese audience in Mandarin, something which has been done by names such as Mark Zuckerberg before. Moreover, unlike many Indian companies who are initially wary of collaboration, InMobi partnered with PayTm and Walmart Stores Inc at the launch event itself to boost their expansion.

InMobi has raised $200 million( Rs. 1,269 crore) from Japan’s Softbank who is one of the major investors in the company. Although the company does not disclose its revenue numbers, some investors and company insiders estimate the number to be around $400-$500 million annually.


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