India’s first technology-based firm to enter the Unicorn club, InMobi, has kickstarted its US listing process by working with Goldman Sachs and JP Morgan as advisors to help raise about $1 Billion. It remains unclear however whether the listing process will increase the valuation of the ad-tech vertical only at a $5-$8 billion valuation, or the entire group is valued at $12-$15 billion. The investors and the company are looking at a listing during the ongoing financial year.
While these talks are going on, SoftBank Group Corp, a Japanese technology and telecoms conglomerate has transferred its 40% shareholding in InMobi to Softbank Vision Fund (SVF) 2. The $30 billion capital of SVF2 comes from SoftBank only.
InMobi Pte, the parent company of InMobi, is owned by its employees and founders by 45%, while the remaining 55% is with the investors, including Sherpalo Ventures and SoftBank. Off-late, InMobi has raised $145 million from Mithril Capital and Google, marking its interest in the social media space.
Backed by SoftBank CEO Masayoshi Son we have a wave of digital IPOs focusing on tech-giants based out of Asia, prompting Son to promise its shareholders $46 Billion in profit.