InMobi in talks to buy Shop101: Reports
By MYBRANDBOOK
As per news source, InMobi is in discussion to buy Shop101- the social commerce firm.
InMobi has been aiming to build a commerce layer for its products Glance and Roposo. It was in the market to acquire companies in the e-commerce space and appears that it may have found itself a deal.
“Both companies have been in talks since the past few months after Shop101’s early conversation with other companies including Reliance and Amazon had fizzled out,” said one of the sources requesting anonymity. “Talks with InMobi have reached an advanced stage and contours of the deal are almost finalised.”
If the deal becomes successful then it would be the second acquisition of InMobi in the last six to seven months. Late last year, it had acquired Tiger Global-backed Roposo in a distress sale.
Vy Capital and Stellaris Ventures-backed Shop101 has been exploring merger and acquisition opportunities since the beginning of this year.
“InMobi would value Shop101 in the range of $30-35 million [Rs 215-250 crore],” said a second source who also wished not to be named as the talks are private.
According to the news source, Shop101 was valued at Rs 436 crore or $60 million when it raised Rs 17.2 crore from its existing investors Kalaari Capital, Vy Capital, Unilever and Stellaris in July 2020. The valuation being slashed in half essentially indicates that it would be a distress deal.
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