InMobi, an adtech unicorn, is reportedly preparing for an initial public offering (IPO) next year, targeting a valuation of approximately $10 billion. According to a TechCrunch report, the company aims to list in India. Alongside this, InMobi, which has achieved profitability, plans to relocate its headquarters from Singapore to India in the coming months. An IPO in India at this valuation would represent one of the largest listings by a local software startup.
Founded in 2007 by Naveen Tewari, Piyush Shah, and Abhay Singhal, InMobi has established itself as a leading marketing and monetization technology provider both in India and globally. Although headquartered in Singapore, the company has significant operations in Bengaluru and San Francisco, along with presence in New York, Chicago, Kansas City, Los Angeles, Delhi, Mumbai, Beijing, London, Dubai, and several other locations.
InMobi initially planned for an IPO in 2021 but postponed it due to unfavorable market conditions. With the recent recovery in tech stocks, the company is now reconsidering an IPO within the next 12-15 months. This move comes as part of a broader strategic realignment that encompasses technology, organizational structure, workforce skills, and operations, driven by the adoption of artificial intelligence.
Earlier this year, it was reported that InMobi, recognizing the need for technological advancement after nearly 17 years, aligned its strategy to incorporate advancements like generative AI. This shift is anticipated to lead to the reduction of approximately 125 jobs, representing about 5% of its current workforce of 2,500 employees.
As InMobi prepares for its IPO and strategic realignment, the company’s move to integrate artificial intelligence and relocate its headquarters to India underscores its commitment to staying at the forefront of the adtech industry. This upcoming IPO will be closely watched as one of the most significant listings for a local software startup in recent times.