Bangalore: Bangalore-based InMobi, a mobile ad network, acquired the U.S.-based Sprout, a platform provider for creating HTML5 rich media mobile advertising. With this acquisition, InMobi can leverage Sprout’s technology to address the complexity of planning, creating, distributing and measuring of rich media mobile ads for brands and agencies in India and globally. Typically, enterprises spend $10k to $15k, to publish rich media ads on the network. With InMobi bundling up Sprouts services to their portfolio, the company intends to explore next generation rich media ads to their customers spread across 165 countries.
InMobi with its presence in five continents gets more than 36.2 billion ad impressions every month. It provides advertisers, publishers and developers with a uniquely global solution for advertising. Its fast growing network delivers the unprecedented ability to reach 314 million consumers. InMobi was recently included in both the 2011 AlwaysOn Global 250 and the 2011. The company that has raised $16 million till now is backed by investors like Kleiner, Perkins, Caufield & Byers and Sherpalo Ventures. It has offices in San Francisco, London, Bangalore, Tokyo, Nairobi and Singapore.
Aniruddha Nazre Partner at Kleiner Perkins Caufield & Buyers said, “The mobile industry is yet to fully capitalize on the engaging advertising experiences now possible through smart devices.” After this acquisition, Sprout will operate as a fully independent company working with the entire mobile advertising industry to solve the HTML5 creation and delivery problem. It will also continue to expand its product in the coming months by adding workflow enhancements, analytics and innovative new ad units.
Carnet Williams, CEO and Co-Founder of Sprout said, “InMobi’s commitment to an open and independent Sprout made them the clear choice for us. We will continue to work with all existing partners, including ad networks, globally.”