Mobile advertising technology provider InMobi Group has acquired India-based social influencer content portal Roposo in a $20m deal enabling media group Bertelsmann to exit, the Economic Times has reported.
The price was not officially disclosed but industry trackers estimated it consisted of $20m in cash and stock.
Founded in 2013, Roposo has created a mobile app that publishes short-form video content from professional marketing influencers in various languages. It will be integrated with mobile content distribution platform Glance, which spun off from InMobi in September this year.
Roposo had raised $31m in funding ahead of the acquisition, $10m of which came in a round co-led by Bertelsmann’s India Investments unit and hedge fund manager Tiger Global Management in December 2018.
The company closed a $15m series B round in 2016 that consisted of $5m from Bertelsmann India Investments and $10m from Tiger Global. The latter had led a $5m series A for the company the year before that also featured India Quotient and Binny Bansal.