News

Glance, a Subsidiary of InMobi, Raises $45M to Expand its Business Outside of India

Glance is eyeing the Southeast Asia region and has started finding its new partners accordingly.

monetizing Glance platform

Glance, a lock screen technology business owned by InMobi, has successfully closed an investment round from Mithril Capital that has infused $45 million into its kitty. As reported by the company, Glance is the world’s first screen zero platforms that offer AI-powered and personalized content to the users on their Android-powered smartphones lock screen.

The unnamed financing round aims to expand the company’s operation outside India and amplify its product offerings. Glance has set its focus on Southeast Asian markets like Thailand, Indonesia, and Malaysia.

The investment round is not over yet and is expected to bring another $30 million to $55 million, as disclosed by Naveen Tewari, the founder, and CEO of InMobi Group, to TechCrunch in an interview.

Interestingly, Mithril Capital, a growth-stage investment firm owned by Peter Thiel and Ajay Royan, is part of another financing round that involved $75 million in funding. As stated by the company, the other investors will likely be announced in the next few weeks.

Ajay Royan, one of the two venture capitalists of Mithril Capital, is now one of the board members of Glance.

In a statement given to Techcrunch, Mithril Capital’s Rohan said,

Apart from its present-day operations, Glance is planning to include short-form videos and mini-games on its platform. The other notable features that the company is set to launch are Glance Location and Glance Shopping.

Naveen Tewari said,

Glance did exceptionally well in India, and right after its launch, it amassed 50 million monthly active users. According to the statement, users are said to be spending 22 minutes (approx) with Glance each day.

InMobi, a well-known mobile app marketing company, decided to raise the funding to accelerate Glance’s growth.

Tanya <span>Editor In Chief</span>
Written By
Tanya Editor In Chief

She is a content marketer and has more than five years of experience in IoT, blockchain, Web, and mobile development. In all these years, she closely followed the app development, and now she writes about the existing and the upcoming mobile app technologies. Her essence is more like a ballet dancer.

News

Is Tinder Behind the 'Dating Apocalypse?'

5 min read  

Its Weekend and the bar is stuffed with youngsters getting their throat chilled with drinks after a long hectic week at the office. Surprisingly, instead of sweating on the dance floor most of them were busy with their smartphones.While looking closely you will find that all of them are busy in

News

Five Industries AI Will Change in 2020

4 min read  

Artificial Intelligence has long changed the course of various industries throughout the world. Despite the common fear that it attracts, we can’t deny the way it has transformed businesses. Fei-Fei Li, the renowned Computer Science professor at Stanford University, once claimed,“I

News

Tinder Beats Netflix As The Top Grossing Non-Game App In Q1 2019

2 min read  

After so many years it has finally happened, an online dating app where you swipe right and left i.e. Tinder has now become the top-grossing app of Q1 2019. A great contribution to this is also done by the Netflix app as the company decided to stop paying Apple tax.Which basically means that it

News

Facebook Apologises For Asking To Let Pass Pedophiles In A Survey

4 min read  

Facebook replied with an apology over the debate arises on its survey asking the children's reaction to pedophiles activities on the platform. Recently, Facebook did a survey with the minors asking them what they think about the company’s current policies. The survey included questions lik

MAD Originals
MAD Originals

Cut to the chase content that’s credible, insightful & actionable.

Get the latest mashup of the App Industry Exclusively Inboxed

  • PRODUCTS
  • SERVICES
  • BOTH
Join our expansive network, build connections and expand your brand presence.