SoftBank-backed InMobi plans to raise funds via capital market: Report

Mobile-advertising service InMobi Pte is planning to hit the capital market in the United States by the end of the year, stated a report by NDTV. It will become among the few Indian startups that have plans to get listed this year.

The process to get listed is expected to start within few weeks after a board meeting on the same is held, stated a source. The report stated the offering size could be $1 billion, valuing InMobi at $12 billion to $15 billion.

InMobi is about three months from filing an S-1 statement, a registration document submitted to the U.S. Securities and Exchange Commission, and plans an IPO roadshow after that, said the person.

InMobi has a global presence with operation in markets including China, the U.S., South Korea, Australia and India. The company uses algorithms to deliver targeted advertising to users' phones, helps advertisers create ads, monetise site traffic, providing real-time reports on campaign performance are some of its activities.

Other than SoftBank, which owns over 35 per cent of the company, the other investors of the company are Kleiner Perkins Caufield & Byers, Sherpalo and UC-RNT Fund.

The company was founded in 2007 by Naveen Tewari, Mohit Saxena, Amit Gupta and Abhay Singhal.

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