Reliance may invest $250 million in InMobi's Glance

Reliance Industries (RIL) is in talks to take a position between $200 million and $250 million in InMobi’s lock screen content platform look, multiple individuals within the apprehend told ET.

Reliance may invest $250 million in InMobi's Glance

The Mukesh Ambani-led company may provide the Mukesh Ambani-led company access to content on the lock screen for its forthcoming Google-Jio Smartphone, which is anticipated to go on sale by the end of the Gregorian calendar month.

One of the individuals believes that InMobi and RIL are still in the early stages of discussions.

RIL wants to select up to 15-20% of the imaginary creature, another person.

Unicorns are startups with a valuation of $1 billion or more.

RIL didn't reply to ET’s emailed queries. According to an InMobi spokesperson, the company will "not discuss rumours and speculations."

Newswire Bloomberg rumoured on Monday that RIL may pump in the maximum amount of $300 million into the stock, with the group action being completed within the next few weeks.

A sizable minority stake in the company may conjointly facilitate RIL's specialisation in proof through the growing development of social commerce.

In June, we looked at nonheritable social commerce startup Shop101 to power its backend commerce and provision play.

Google invested $4.5 billion in RIL’s Jio Platforms last year, as a part of a bigger attempt to invest $10 billion in Asian countries over the next few years.

The partnership between Reliance and Google includes co-developing a low-priced smartphone for an Asian country, whose launch has been pushed back a couple of weeks because of a worldwide shortage of semiconductor chips.

According to Counterpoint Research’s quarterly Mobile Application Hunter, Apple crossed the 150-million active users mark within the second quarter of 2021, growing by V-day from the previous quarter.

Glance conjointly owns the short video platform Roposo, which gained a major variety of users once China’s TikTok was made illegal last year in the Asian country.