The firm’s financial statements have been prepared on a going concern basis, not withstanding the fact that it has net loss of Rs 77 crore during the year and a negative networth of Rs 194 crore, according to the documents. As the year ends, excluding the holding company’s (InMobi
Pte Ltd, Singapore) balances, the firm’s current assets exceeded its current liabilities. The holding company undertakes to provide unconditional financial and other support to the firm for the foreseeable future and not to call for settlement of any amount that the firm owes to it.
became India’s first unicorn when it received an investment of $200 million from SoftBank in 2011. InMobi Goup now runs businesses such as area of advertising, mobile-first content platform Glance and data management platform TruFactor.
Last December, Glance, the world’s leading lock-screen platform, raised $145 million from technology giant Google and Silicon Valley billionaire Peter Thiel’s Mithril Capital, an existing investor in the company.
The new financing round helped the 18-month-old Glance to become the fastest company to reach unicorn status or a start-up valued at more than $1 billion, revealed industry sources.
Glance delivers AI-driven personalised content in multiple languages, including English, Hindi, Tamil, Telugu, and Bahasa on the lock screen of Android smartphones. With more than 115 million daily active users, who spend 25 minutes per day, Glance is one of the largest digital consumer platforms in the world.