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

Snapchat Rolls Out Snap Kit For Its Users'

4 min read  

Snapchat has unveiled a new set of tools that will allow the developers to integrate their apps into Snapchat. The multimedia messaging app company has named it as Snap Kit. The rumors of something for developers were already high from the last couple of months and with the announcement of Snap Kit,

News

Instagram Added Portrait And Landscape Format To Its Album Feature

4 min read  

Finally, Instagram added the option that users were craving for a long time. Instagram, now lets you post portrait and landscape images in a single album.In February, the company added the feature to post up to 10 photos together in a single post with the name album. After the update, the users

News

Global Tablet Sales Are Falling

4 min read  

The global tablet market is rapidly shrinking. Tablet sales have been declining since 2012, according to news reports. Between 2012 and 2017, tablet sales have steadily declined continuously for ten quarters. Is it the Doom for Tablets? Sales dropped a whopping 8.5 percent between

News

Pokemon GO Revenue, Statistics And All Figures Revealed

4 min read  

The mobile app industry has experienced drastic evolution in the last 5 years with the introduction of new technology. Where we used to believe that the mobile app industry has reached a stagnation point and everything will stay the same for a while, the new apps proved us wrong. Pokemon GO is among

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