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Jio Platforms to invest $200mn in Glance
February 16, 2022
Mobile-first content platform Glance is bringing $200 million up in its Series D round from Reliance-owned Jio Platforms in an essential arrangement. The organization had recently brought $145 million up in a round led by Google in December.
The investment is expected to expedite Glace’s vision of bringing the web to lock screens, all around the world, said the organization in a press release. With the venture, Jio expects to speed up Glance’s launch in a few critical global business sectors outside of Asia like the USA, Brazil, Mexico, and Russia.
As per Entrackr’s sources, Glance will be valued at near $2 billion. The organization was valued at more than $1 billion during its last round.
Started as part of InMobi, Glance was made as a separate entity from the previous one in July 2019. Alongside Glance, InMobi holds two additional subsidiaries under the umbrella entity advertising technology under InMobi UMC and information business TruFactor.
As of now (barring this venture), InMobi is the biggest partner in Glance with 63.3% stake followed by Mithril Capital Management which owns 22.6%, its regulatory filings in Singapore show. Alphabet (formerly Google Capital) orders a 12.7% holding in Glance.
The platform has partnered with more than 1,000 media and agencies and smartphone makers, for example, Samsung, Vivo, Oppo, and Xiaomi to pre-install Glance in their famous model.