After Glance, InMobi’s Roposo To Enter A Social Commerce Biz Deal With Reliance Retail

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Source: Whizsk

Digital technology firm InMobi’s social media arm Roposo is in discussions with Reliance Retail for a social commerce related business deal which is expected to be rolled out in the next two quarters.

SoftBank-backed InMobi’s co-founder and CEO Naveen Tewari has said that the company is looking to reach 1 billion users in the next 2-3 years by building various partnerships and expanding its footprint overseas.  

“We are partnering with Reliance Retail to provide the e-commerce back-end for a new generation front — a commerce experience of influencer-led entertainment and commerce,” Tewari said. He said about a year back, Walmart and TikTok entered into a similar deal to promote sales on social media platforms instead of taking the traditional advertisement route but it could not pick up. “It actually became a great way to do commerce. That is what we are replicating here. It will take 3-6 months. We are talking about integrating the back-end system,” Tewari said.

Jio Platforms has announced investment of USD 200 million (about Rs 1,500 crore) in InMobi’s Singapore subsidiary Glance for a 17 per cent stake. The company provides mobile screen lock and content displayed on it. Glance has a presence across 400 million mobile devices across Asia.

Source: Entrepreneur

The transaction valued Glance at USD 1.8 billion.

“We did need capital because we are building a consumer platform globally. The primary reason for taking (investment) from Jio is that I absolutely adore Mr Mukesh Ambani, his audacity to build and disrupt industry after industry. It is a childhood dream to be associated with him. Second, they are one of the most advanced carriers of the world,” Tewari said.

Source: VCCircle

Besides stake purchase, Jio’s Pragati OS will integrate GlanceGlance is also backed by technology giant Google and Silicon Valley-based venture fund Mithril Capital. Tewari said the company will initially use the fund to enhance business in Latin America and US.

Source: Business Standard


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