SoftBank has reached an agreement to sell a significant portion of its stake in InMobi, the Indian mobile advertising company, for approximately $250 million. The transaction involves InMobi buying back shares previously held by SoftBank, effectively unwinding a substantial part of its investment.
The deal marks a notable shift in SoftBank’s holdings in InMobi, which was India’s first unicorn, reaching a valuation of over $1 billion in 2011. Since then, InMobi has grown to become a prominent player in the mobile advertising space, expanding its global reach and product offerings.
Details of the transaction indicate that SoftBank’s decision to divest aligns with its broader strategy to optimize its investment portfolio. The return of funds from this sale could be redirected toward other investments or strategic initiatives within SoftBank’s portfolio.
InMobi has not publicly disclosed specific plans following the buyback, but the transaction underscores the evolving nature of investment relationships in the tech space. It also highlights the ongoing shifts in ownership structures within India’s vibrant startup ecosystem.