InMobi expects Glance biz to catch up with advertising revenue in 2 years

To be sure, Glance already operates a lock-screen content and a product discovery platform. Besides this, the consumer business also includes Roposo, Nostra, and 1Weather with 350 mn active users

Global mobile advertising firm InMobi Group expects its subsidiary Glance to match its core advertising business in revenue within the next two years, despite currently contributing only a third.

 

The company is banking on the rapid adoption of its newly launched Glance AI platform globally, with special focus on the US. The app is an AI-native commerce platform powered by proprietary AI models, which is expected to change the way people shop and reshape how intelligence drives decision-making.

 

“Both businesses will be of equal size in the next 24 months, and Glance will also turn profitable next year,” Naveen Tewari, chief executive officer and co-founder of InMobi, said in an interaction with Business Standard.

 

InMobi and Glance reported revenue of about $300 million and $100 million, respectively, for the fiscal year ended March 31, 2024, according to people familiar with the matter. A year earlier, InMobi reported revenue of $268 million and profit of $42 million. Glance's revenue was just $38.7 million, and losses stood at $130 million. 

 

To be sure, Glance already operates a lock-screen content and product discovery platform. In addition, the consumer business also includes Roposo, Nostra, and 1Weather, with 350 million active users.

 

Glance AI, the company believes, will catapult it to the next growth trajectory, with 100 million active users expected in the next 12 months. About 50 per cent will be in the US, the largest consumer market, and 25 per cent in India. It has already tied up with 400 fashion brands in the US. Glance AI was developed in partnership with Google, which holds a 10 per cent stake in it.

 

Glance, which houses the consumer businesses, counts Google, Jio Platforms, and Mithril Capital among its investors, besides parent InMobi, which holds about 50 per cent. It has so far raised $390 million at a $1.7 billion valuation. InMobi Group has already invested $200 million in Glance AI and a generative AI ad tech stack.

 

InMobi Advertising, the main business, is expected to grow by about 35-40 per cent this fiscal. “The advertising business reflects a bit of the world economy. Barring a few blips such as wars, the business continues to do well,” added Tewari.

 

The company, however, is yet to start the process of domiciling to India from Singapore, a key step before it finalizes plans to go public. It also did not comment on the timelines for going public.