InMobi morphs into holding company, slots its three verticals into new structure: Report
Mobile marketing and advertising platform InMobi has created a holding company with three independent entities for its core businesses, a financial daily reported.
The Economic Times, which reported the development, said that the umbrella entity will now be referred to as the InMobi Group.
The flagship advertising-technology business will now function under InMobi UMC while data vertical TruFactor and consumer content platform Glance will function as two separate verticals.
Co-founder Abhay Singhal will head InMobi UMC, while Piyush Shah, another cofounder, will lead TruFactor. Likewise, the Glance team will directly report to co-founder Naveen Tewari, the report added.
Tewari told The Economic Times that the new company structure is to ensure autonomy and efficient functioning of the three businesses, which cater to different segments and are at different stages of maturity.
E-mail queries to InMobi seeking more information on this development did not get a response till the time of filing this report.
SoftBank-backed InMobi was founded in 2007 by Tewari, Shah, Singhal, Mohit Saxena and Amit Gupta. Saxena and Gupta quit the company to start travel-tech venture Rizort and bicycle- and e-bike-sharing platform Yulu, respectively.
The flagship InMobi product focuses on the mobile advertising space, competing with the likes of Google and Facebook while Glance uses artificial intelligence (AI) to identify trending topics. The product comes pre-loaded on budget smartphone devices.
In February this year, the company launched TruFactor, a cloud-based solution to help telecom companies boost the privacy, security and regulatory compliance of their digital assets.
Last month, the company announced the appointment of Harvard professor and economic strategist Tarun Khanna as an independent director on the board, bringing its strength to seven directors, two of whom are independent.