InMobi founders buy back SoftBank’s $250 Mn stake: Report

Founding teams of InMobi, which offers mobile advertising network software, have reportedly bought back around 25-30% stake from Japanese investor SoftBank.

As per an ET report, the deal covers roughly 25–30% equity and values the company at around $1 billion. SoftBank which had invested around $200-220 million in the company is expected to get $250 million with this deal.

Prior to the transaction, SoftBank held around 35% stake in InMobi, and following the sale of shares to the founders, it now holds 5-7% of the company. 

Earlier on Thursday, ET reported that InMobi raised $350 million in new funding from Varde Partners, Elham Credit Partners, and SeaTown Holdings. It added that the funding consists of two tranches: a $200 million loan at the operating company level, and a $150 million loan at the holding company level, both secured against the founders’ stake.

Entrackr has reached out to InMobi for more details.

Naveen Tewari-led InMobi offers a range of products, including mobile display ads, native ads, and app install campaigns, leveraging advanced machine learning and AI technologies to optimize ad performance. 

With a significant presence in over 165 countries, it helps businesses connect with their target audiences across various mobile platforms and drive user acquisition and engagement. Headquartered in Singapore, it has a large presence in San Francisco and operations around the globe.

InMobi last raised $100 million in debt financing from MARS Growth Capital, a collaboration between MUFG and Liquidity Group.

This marks the second founder-led buyback at a SoftBank-backed company in recent times. In July, Lenskart co-founder and CEO Peyush Bansal boosted his stake through a series of secondary share purchases, with the Japanese tech giant also taking part in the transaction.