Mukesh Ambani’s Reliance Industries is in talks to make a big investment in Google-backed Glance InMobi Pte in the coming times. Reliance can get many benefits from this deal.
Billionaire Mukesh Ambani’s company Reliance Industries Limited is going to invest about $ 300 million in a Google-backed unicorn company. This unicorn company works in the news and entertainment segment and also runs a short video app ‘Roposo’.
Reliance Industries may complete the deal in the next few weeks
According to various media reports, Mukesh Ambani’s Reliance Industries may make this investment in Glance InMobi Private Limited (Glance InMobi Pte). For this, talks are going on actively between the two sides. People associated with the matter say that the deal could be completed in the next few weeks.
However, Reliance Industries has not said anything officially about this yet. Glance InMobi has also not confirmed this.
Roposo App is owned by Glance InMobi Pte.
Backed by Google’s parent company Alphabet Inc., InMobi serves curated news and entertainment content on the phone’s lock screen. Since InMobi also runs short video apps, which is a fast-growing segment, the deal could give Reliance Industries an entry into the segment. Apart from this, market experts believe that this deal can also prove beneficial for Reliance’s soon-to-be-launched affordable smartphone.
Reliance is making cheap smartphones in collaboration with Google
Reliance Industries is making this smartphone (Jiophone Next) in collaboration with Google. Google has agreed to invest $4.5 billion on this project. These smartphones can be launched in the market around Diwali. These smartphones were already about to be launched, but due to the recent lack of chips, the launch has been postponed.
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About 130 million daily users of Glance InMobi Pte
Let us tell you that Glance InMobi company was started in 2019 and currently it has about 130 million active users daily. The company’s Roposo app is available in several Indian languages.