InMobi aims to float an Initial Public Offer (IPO) by December 2021 on NASDAQ, while seeking a valuation of over $15 billion. The Bengaluru-based startup has initiated talks with a slew of global bankers including Morgan Stanley, JP Morgan Chase, and Goldman Sachs to manage the said listing process.
A successful listing for this AdTech firm will be a first for the Indian tech start-up community. They will also be able to deliver hefty returns to Masayoshi Son-led Softbank, which owns a significant share in the company. InMobi’s board is expected to formalize the IPO plans in April, said one person cited above.
InMobi was co-founded by Harvard Business School (HBS) alumnus Naveen Tewari 13 years ago. The company delivers mobile-first programmatic advertisements with its own marketing automation platform. Their target markets are primarily in the US and in China.