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Google invests in Inmobi and Dailyhunt s parent VerSe Innovation

Google invests in Inmobi and Dailyhunt s parent VerSe Innovation
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Google, Microsoft Invest in Booming Indian-Language TikTok Rival

Dec 23 2020, 6:29 PM December 22 2020, 12:46 PM December 23 2020, 6:29 PM (Bloomberg) Google investments helped create India’s two youngest technology unicorns: a pair of startups that feed personalized news and entertainment to the world’s fastest-growing smartphone population. (Bloomberg) Google investments helped create India’s two youngest technology unicorns: a pair of startups that feed personalized news and entertainment to the world’s fastest-growing smartphone population. Glance, which feeds news and sports scores to phone-lock screens, is said to have reached a valuation of more than $1 billion after completing a funding round led by Google. And VerSe Innovation Pvt, the studio behind the popular Dailyhunt news site and TikTok-like Josh app, said it passed that threshold after winning more than $100 million from Alphabet Inc.’s search giant and Microsoft Corp.

google: InMobi s mobile-first content platform Glance raises $145 million in funding led by Google

We ll soon meet in your inbox. Please wait. Glance, which also owns short-videos platform Roposo, will utilise the capital to invest in artificial intelligence and facilitate its global expansion, starting with Southeast Asia, Latin America and the United States. InMobi said Glance has 115 million daily active users, largely in India, who spend an average 25 minutes on the platform daily. “I’m very excited about the investment coming in from Google as it validates Glance and secures its place as a definitive lock-screen platform,” said Naveen Tewari, founder and CEO of Glance and InMobi Group. “We like to believe that we have created a consumer application that has probably advanced the Android ecosystem the most.”

Google & Mithril Capital invest $145 million in InMobi-owned Glance

Google & Silicon Valley-based fund Mithril Capital have invested $145 million in InMobi s mobile content platform, Glance. (Representative Pic)  |  Photo Credit: iStock Images Bengaluru: Google & Silicon Valley-based fund Mithril Capital have invested $145 million in InMobi s mobile content platform, Glance. InMobi is India s first unicorn and it is likely that Glance too has neared unicorn status with this round. The funds will be used to build out the platform and deepen its presence in global markets such as South East Asia, Latin America, South America and the United States.   InMobi group founder and CEO Naveen Tewari spoke to ET NOW on the fundraise and its plans for an IPO next year.  

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