Internet technology provider Google and investment firm Mithril Capital supplied $145m yesterday for Glance, the Singapore-based owner of social video streaming platform Roposo, at a valuation it told Mint was above $1bn.
Spun off by mobile advertising technology provider InMobi, Glance is the operator of Roposo, a short-form video platform that has more than 33 million monthly active users, broadcasting personalised content on the lockscreens of Android phones in 10 languages including English, Hindi and Tamil.
Google vice-president Caesar Sengupta said: “Glance is a great example of innovation solving for mobile-first and mobile-only consumption, serving content across many of India’s local languages.
“Still, too many Indians have trouble finding content to read or services they can use confidently, in their own language. And this significantly limits the value of the internet for them, particularly at a time like this when the internet is the lifeline of so many people.
“This investment underlines our strong belief in working with India’s innovative startups towards the shared goal of building a truly inclusive digital economy that will benefit everyone.”
Roposo was acquired by InMobi for an estimated $20m in cash and shares in November 2019, having previously raised $31m from backers including media group Bertelsmann’s India Investments subsidiary.
