InMobi group is strengthening its operations with acquisitions and developing its existing firms. Glance and Roposo are the two major subsidiaries of InMobi. In a recent development, Glance has acquired the e-commerce platform Shop101. With the help of current acquisitions, InMobi is targeting the influencer led commerce sector.
How Shop101 will Help InMobi in Further Growth?
Glance, the Artificial Intelligence(AI) based online content firm, has acquired Shop101. The financial details of the deal are not yet known. Shop101 will provide influencer led commerce opportunities for Glance and Roposo.
Under the Roposo platform, influencers and subscribers share their homemade videos and photos with their fans. Now onwards, Shop101 product advertisements will be shown on Glance and Roposo based on users’ interest.
“We feel very strongly that mobile shopping and commerce is going to transform in many ways where there is going to be an interesting intersection of creators, content and commerce, which will come together…the acquisition will allow us to leverage their (Shop101) entire e-commerce technology and do this globally eventually on Glance and Roposo.” Piyush Shah, Co-Founder of InMobi Group, and Glance President and COO, told to media.
He further added that it’s a huge opportunity for InMobi to monetize its huge user base.
Shah avoided the questions related to the financial details of the current deal but he revealed that the deal will be a mix of cash and equity. He also said that this is the major investment of the fund raised in December.
About Glance, Roposo, and Influencer Commerce
Glance provides digital contents including news, sports, entertainment, finance etc based on users interest. The platform applies a machine-learning algorithm to predict the users’ requirements.
In December 2020, Glance raised $145 million from its existing investors led by Google and existing investor, Mithril Capital. Overall, Glance has raised $190 million in different financing rounds. The startup has already joined the unicorn club.
Whenever Glance users unlock their mobile phone, they find unique visual content that is selected based on AI algorithm. The platform has 125 million active users who spend at least 25 minutes per day browsing the platform contents.
While Roposo has over 33 million monthly active users who spend 22 minutes daily on the platform. It has about 3 million monthly active creators.
Talking about the influencer commerce space, Shah said:
“Even though it is still in an early phase in India now, the total addressable market for LIVE and interactive commerce in the country is expected to surpass USD 40 billion by 2025…This will be the second most important pillar for monetising Glance and Roposo beyond advertising.”
He further added:
“As we go global, expand and start monetising, this (commerce) will be almost half of our potential revenues in the next 3-5 years.”
As per acquisition deal terms and conditions, the Shop101 team will join Glance to work together. Talking about the collaboration, Shah said:
‘We are not trying to compete on social commerce, but want to foray in a big way on influencer-driven commerce…We think we can integrate and launch in the next three months. We have been engaged with them in the last few months…we have been doing pilots already.”
Tier-II and tier III cities saw a dramatic surge in influencer based commerce. With the current acquisition, Glance will target tier II and tier III cities to kickstart its influencer commerce project.
Talking about influencer marketing further, Shah said:
“Another trend is how the creators and influencers are looking at the whole commerce piece and increasingly looking at this as a stable income-generating model, not a one-off cheque they would get for sharing a video on a short video platform.”
Founded in 2015, Shop101 has a huge reseller base of 10 million. It also has 10,000 supplier partners and serves 2000+ town in India. Abhinav Jain, Aditya Gupta and Kalpak Chhajed are the co-founders of Shop101.