India’s 1st unicorn InMobi, which not too long ago scaled its mobile content platform Glance as effectively to the unicorn status, spent Rs 508.3 crore in total costs for an operating income of Rs 411.5 crore in FY20 in comparison to Rs 440.5 crore spent to earn Rs 384.2 crore in FY19 on a standalone basis, information from regulatory filings showed. The jump in costs and operating income for the business, which delivers mobile marketing and mobile advertising and marketing services, from FY19 to FY20 stood at 15.4 per cent and 7.1 per cent respectively. Moreover, InMobi’s losses shot up 41.3 per cent from Rs 54.2 crore in FY19 to Rs 76.6 crore in FY20 even as its total income elevated 11.7 per cent from Rs 386 crore to Rs 431.6 crore. The business was founded in 2007 by Naveen Tewari, Abhay Singhal, Amit Gupta, and Mohit Saxena and had hit the $1-billion-valuation mark in 2011 post SoftBank’s investment.
“The company’s financial statements have been prepared on a going concern basis notwithstanding the fact that it has net loss of Rs 766,618,993 during the year ended 31 March 2020 and has a negative net worth of Rs 1,940,936,960,” the filing sourced from small business intelligence platform Tofler study. The operating revenue integrated Rs 167.7 crore from marketing and Rs 243.8 crore from small business help services though other revenue, which stood at Rs 20 crore, integrated Rs 18.4 crore from export incentives and Rs 1.65 crore from ‘Miscellaneous other non-operating income’ such as Rs 1.27 crore in rental revenue, and so on. Among costs, employee advantage costs totaled Rs 254 crore as the greatest element followed by Rs 167 crore towards the price of components consumed.
Also study: Dailyhunt’s parent gets yet another $100M for quick video app Josh QIA, Glade Brook Capital, others invest
InMobi’s lock screen content platform Glance shows customers personalised content on their smartphones’ locked screens based on the selection of info they browse on the net. The startup had raised $145 million from Google and current investor Mithril Capital in December final year that pushed it to the unicorn status inside two years of its launch. The business had claimed that with more than 115 million everyday active customers spending 25 minutes per day, “Glance is one of the largest digital consumer platforms in the world.” On the other hand, InMobi had purchased quick video app Roposo in November 2019, which at present competes with the likes of MX TakaTak, Moj, Josh, Chingari, Trell, other individuals, to leverage the marketplace gap developed post TikTok ban. InMobi had mentioned, in the course of Glance’s investment round, that Roposo has more than 33 million month-to-month active customers spending 20 minutes everyday on the app in more than 10 languages.