Bangalore firm on MIT's 2013 list of 50 innovative companies

Bangalore-based mobile advertising platform and solutions provider InMobi has secured a place in MIT Technology Review’s list of ‘50 Disruptive Companies’ for 2013. It is the only Indian company to have made it to the list.

The list also features Apple, Google, Facebook, General Electric, Square, Pinterest, Safaricom, Audi, etc.

In the ‘50 Disruptive Companies’ list, companies are not based on market performance. The list identifies global companies that are pushing the envelope of current business models to drive innovation and create significant impact in the market. (INNOVATION DRIVERS)

“Over the last 12 months, in their multiple tech fields, the honourees have taken risks to unsettle an existing marketplace or create a new market entirely,” said an MIT Technology Review release.

Only 14 of the 50 companies in this year’s list were featured on the previous list, demonstrating the rapid change and proving a spot on the list was less secure and more valuable than being featured on other industry lists, said a press announcement.

Jason Pontin, publisher and editor-in-chief of MIT Technology Review, said, “The pace at which technology changes is astounding. This issue celebrates organisations at the forefront of radical change, displaying ‘disruptive innovation’ that would prove to surpass competition, transform an industry and change our lives.”

InMobi has customers in 165 countries. About a billion unique users receive advertisements from the company on a monthly basis.

“It validates we are disrupting the space of mobile advertisement. I think over the next 10 years, the cumulative spend on mobile advertisement globally would be about $500 billion, and we want to be part of this growth,” said Naveen Tewari, co-founder and chief executive, InMobi.

Founded in 2007, InMobi employees 800 people and has raised about $215.5 million.

According to the details provided by MIT Technology Review, the company has been challenging Google and Apple in the mobile ads market.