Japan's SoftBank Invests $200M in Mobile Ad Startup
InMobi CEO promises aggressive international expansion
Mobile ad startup InMobi just announced that it has raised $200 million from Japanese telecommunications company SoftBank, in what the startup is calling the largest mobile investment of the year.
Before this round, InMobi raised $15 million from famous firms Kleiner Perkins Caufield & Byers and Sherpalo Ventures. CEO Naveen Tewari said the new funding allows the company to aggressively pursue plans for international growth. InMobi has offices in 15 countries, but he predicted that the ad network will eventually build a significant audience in "50 to 60."
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