Stake sale · Consumer Internet & Media

InMobi founders buy back SoftBank stake for $250 million

By Startup Enthusiast · 4 December 2025

What they do

InMobi is a global AI-powered mobile advertising platform connecting brands with 1.8 billion devices

Founders bought back 25-30% stake from SoftBank for $250 million, valuing the company at about $1 billion

The buyback, funded by $350 million in debt, boosts founders' stake to over 60% ahead of a planned 2026 IPO

InMobi founders Naveen Tewari, Mohit Saxena, Abhay Singhal, and Piyush Shah bought back a 25-30% stake from SoftBank for $250 million.
The buyback valued InMobi at around $1 billion.
SoftBank's stake dropped from 35-40% to 5-7%, losing its promoter tag.
Founders raised $350 million in debt from Varde Partners, Elham Credit Partners, and SeaTown Holdings.
The debt was split: $200 million at the operating company level and $150 million at the holding company level.
Of this, $250 million funded the buyback, and $100 million was kept for operations, M&A, and growth.
Founders pledged their holdings to secure the debt.
InMobi is redomiciling its headquarters from Singapore to India and planning an IPO in 2026.

InMobi was India's first unicorn startup, and SoftBank first invested in 2011 with $200 million total.
SoftBank had written off its InMobi investment in 2016 but recovered $250 million through this buyback.
Founder buybacks mirror moves by Oyo, Zetwerk, Zepto, and Snapdeal.
India's IPO surge this year has raised $19.6 billion, with consumer tech listings averaging a 50% pop.

InMobi is a global AI-powered mobile advertising platform operating in over 165 countries.
It connects brands with 1.8 billion devices through data-led media solutions and targeted advertising.
Its consumer brands include Glance (lock screen content-commerce) and Roposo (short video platform).
Enterprise platforms include InMobi Exchange, InMobi DSP, InMobi Pulse, InMobi Telco, UnifID, Meson, and Appsumer.
In FY25, InMobi reported revenue of ₹1,000 crore and a loss of ₹204 crore, but was EBITDA positive at ₹50 crore.
Founded in 2007 as Mkhoj, an SMS-based search business, it pivoted to mobile advertising in 2009.

InMobi plans to list on Indian stock exchanges in 2026.
The company is redomiciling its headquarters from Singapore to India ahead of the IPO.

SoftBank (seller) — Japanese conglomerate that invested $200 million in InMobi between 2011 and 2012.
Varde Partners (participated) — Debt provider for the buyback.
Elham Credit Partners (participated) — Debt provider for the buyback.
SeaTown Holdings (participated) — Debt provider for the buyback.