Jio Invests 200 Million in InMobi’s Lock Screen

Jio Invests 200 Million in InMobi’s Lock Screen

Jio Invests 200 Million in InMobi's Lock Screen

Reliance Industries has made a $200 million (about Rs. 1,510 crore) investment in Glance, a lock-screen content business sponsored by Alphabet and managed by ad-tech firm InMobi. Glance is a lock-screen content startup backed by Alphabet and managed by ad-tech firm InMobi. Following regulatory clearance, the service will be made accessible on new Jio handsets later this year, according to a joint announcement from the businesses. Jio Invests 200 Million in InMobi’s Lock Screen

According to a source familiar with the deal, the after-money value of Glance is estimated to range between $1.7 billion and $1.8 billion (roughly Rs. 12,800–13,600 crore). The investment was made by Jio Platforms, a subsidiary of Reliance Industries that was in charge of completing the purchase on their behalf.

Since the link would allow Reliance’s retail companies to sell their products directly to Jio members, Glance, a platform that delivers customized news, entertainment, and live videos straight to smartphone lock screens, will profit from the arrangement.

Although no sales figures have been released as of this writing, Reliance Industries, which is run by billionaire Mukesh Ambani, launched the Jio Phone Next on November 4, according to the company’s website.

Jio Invests 200 Million in InMobi’s Lock Screen

Jio Invests 200 Million in InMobi's Lock Screen

Reliance Jio has been progressively purchasing stakes in consumer internet firms and integrating their services into Reliance Jio as part of Ambani’s plan to create a technological behemoth that integrates connectivity, entertainment, and commerce into a one platform known as Reliance Jio. Jio Invests 200 Million in InMobi’s Lock Screen

The “future strategic collaborations” between Glance, Reliance Retail, and Jio will be possible “across devices, commerce, content, and the gaming environment,” according to a statement from InMobi. The collaborations will be possible “across content, commerce, and the gaming ecosystem,” the statement says.

The company’s engagement with businesses such as Samsung, Xiaomi, Vivo, Oppo, and Realme has resulted in Glance being pre-installed on 60 percent to 65 percent of new smartphone models sold in India, according to Tewari.

At least for the time being, it intends to use the extra funds to expand its operations into the United States and Latin American markets, and it also hopes to experiment with new types of content-driven commerce, such as live videos, in order to better serve its customers and prospects. Jio Invests 200 Million in InMobi’s Lock Screen

Google (GOOGL.O) and Reliance Industries (RELI.NS) announced on February 14th a $200 million investment in Glance, a lock screen content business backed by Alphabet (GOOGL.O) and owned by ad-tech firm InMobi. Glance is a startup that creates lock screen content for smartphones. Alphabet (GOOGL.O) and ad-tech firm InMobi have partnered with the business to provide the service to new Jio devices later this year, according to the company.

According to an unidentified source acquainted with the deal, Glance will be valued between $1.7 billion and $1.8 billion when the money is invested as a result of the investment by Reliance’s Jio Platforms company.

Since the link would allow Reliance’s retail companies to sell their products directly to Jio members, Glance, a platform that delivers customized news, entertainment, and live videos straight to smartphone lock screens, will profit from the arrangement. Jio Invests 200 Million in InMobi’s Lock Screen

This year, according to Naveen Tewari, the founder and CEO of InMobi Group in a telephone interview, “hundreds of millions” of Jio phones might be outfitted with the capabilities, according to the company.

A press statement made on November 4 announced the introduction of the Jio Phone Next, which is owned by billionaire Mukesh Ambani. The Jio Phone Next is a smartphone developed by Reliance Industries. Although no sales figures have been released to far, it is likely to be released in the near future.

Jio Invests 200 Million in InMobi's Lock Screen Reliance Jio has been progressively purchasing stakes in consumer internet firms and integrating their services into Reliance Jio as part of Ambani’s plan to create a technological behemoth that integrates connectivity, entertainment, and commerce into an one platform known as Reliance Jio. Jio Invests 200 Million in InMobi’s Lock Screen

Following the signing of the agreement, according to a press release from InMobi and its partners Glance, Reliance Retail, and Jio, they believe that it will pave the way for future strategic collaboration in areas such as devices, commerce, content creation, and the gaming environment, among other things.

The software is pre-installed by default in 60 percent to 65 percent of new smartphones sold in India according to Tewari’s estimates, which include Samsung, Xiaomi, Vivo, Oppo, and Realme. Glance is a free app that can be downloaded from the Google Play Store.

At least for the time being, it intends to use the extra funds to expand its operations into the United States and Latin American markets, and it also hopes to experiment with new types of content-driven commerce, such as live videos, in order to better serve its customers and prospects. Jio Invests 200 Million in InMobi’s Lock Screen

Numerous famous investors in the business have made contributions, including Mithril Capital (established by Peter Thiel) and Alphabet, who invested $100 million in the company in December of 2020.

In this blog we have provided information about Jio Invests 200 Million in InMobi’s Lock Screen

ALSO READ: THE UNIVERSITY OF OULU ANNOUNCES 6G COLLABORATION WITH JIO

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