InMobi in talks to buy Shop101: Reports
By MYBRANDBOOK
As per news source, InMobi is in discussion to buy Shop101- the social commerce firm.
InMobi has been aiming to build a commerce layer for its products Glance and Roposo. It was in the market to acquire companies in the e-commerce space and appears that it may have found itself a deal.
“Both companies have been in talks since the past few months after Shop101’s early conversation with other companies including Reliance and Amazon had fizzled out,” said one of the sources requesting anonymity. “Talks with InMobi have reached an advanced stage and contours of the deal are almost finalised.”
If the deal becomes successful then it would be the second acquisition of InMobi in the last six to seven months. Late last year, it had acquired Tiger Global-backed Roposo in a distress sale.
Vy Capital and Stellaris Ventures-backed Shop101 has been exploring merger and acquisition opportunities since the beginning of this year.
“InMobi would value Shop101 in the range of $30-35 million [Rs 215-250 crore],” said a second source who also wished not to be named as the talks are private.
According to the news source, Shop101 was valued at Rs 436 crore or $60 million when it raised Rs 17.2 crore from its existing investors Kalaari Capital, Vy Capital, Unilever and Stellaris in July 2020. The valuation being slashed in half essentially indicates that it would be a distress deal.
Singapore to remove One-Time Passwords from Bank Accounts
According to the Monetary Authority of Singapore, clients who utilise secur...
Is 375 million Airtel subscribers database breached?
When a hacker claims to have accessed and put up for sale a customer databa...
The government of India intends to construct a single portal f
A single portal will be launched by the Indian government to list all of it...
OpenAI offers GPT-4o, a faster model available to all users at
GPT-4o, a faster and more sophisticated AI model, is made available to all...
Icons Of India : CP Gurnani
Former Managing Director and CEO of the well-known IT service company ...
Icons Of India : GAUTAM ADANI CHAIRMAN ADANI GROUP
Gautam Adani is the Founder and Chairman of the Adani Group, which ran...
Icons Of India : NANDAN NILEKANI
Nandan Nilekani is the Co-Founder and Chairman of Infosys Technologies...
ITI - ITI Limited
ITI Limited is a leading provider of telecommunications equipment, sol...
C-DAC - Centre for Development of Advanced Computing
C-DAC is uniquely positioned in the field of advanced computing...
RailTel Corporation of India Limited
RailTel is a leading telecommunications infrastructure provider in Ind...
Indian Tech Talent Excelling The Tech World - Anirudh Devgan , President, Cadence Design
Anirudh Devgan, the Global President and CEO of Cadence Design Systems...
Indian Tech Talent Excelling The Tech World - Vinod Dham, Founder & Executive Managing Partner, IndoUS Venture Partners
Vinod Dham, known as the “Father of the Pentium Chip,” has left an...
Indian Tech Talent Excelling The Tech World - Sundar Pichai, CEO- Alphabet Inc.
Sundar Pichai, the CEO of Google and its parent company Alphabet Inc.,...