InMobi Founders Buy Back $250 Mn Stake From SoftBank
- ByStartupStory | December 4, 2025
Pre-IPO Move Boosts Founder Ownership To 80%+ Ahead Of 2026 Listing
Singapore-headquartered mobile advertising giant InMobi’s founding team has bought back approximately 25-30% stake from longtime investor SoftBank Vision Fund for $250 million, valuing the company at around $1 billion and reducing SoftBank’s holding from 35-40% to 5-7%. The transaction, funded through a recent $350 million debt raise from Varde Partners, Elham Credit Partners, and SeaTown Holdings, significantly consolidates founder control ahead of a planned 2026 public listing.
Founder-Led Consolidation Pre-IPO
CEO Naveen Tewari and co-founders Abhay Singhal, Mohit Saxena, and Piyush Shah now control over 80% alongside employees, up from 30%, providing maximum flexibility for the upcoming IPO. SoftBank, which invested $200-220 million starting in 2011, exits with substantial returns despite a 2016 write-down, marking its second major founder buyback this year after Lenskart.
The $350 million debt comprises $200 million at the operating company level and $150 million at holding company level, secured against founder stakes, with $250 million allocated to the SoftBank repurchase and remainder for operations, M&A, and growth.
Mobile Ad Tech Powerhouse Eyes Public Markets
Founded in 2007, InMobi operates a global AI-powered mobile advertising platform across 165+ countries, connecting brands with 1.8 billion devices. FY25 revenue hit ₹1,000 crore despite ₹204 crore losses from expansion, with EBITDA turning positive at ₹50 crore. Ceiling fans drive 70% sales in India’s $10 billion market, expanding into mixer grinders (₹200 crore run-rate), ACs, purifiers, and smart locks.
Recent $100 million debt from MARS Growth Capital (MUFG/Liquidity Group JV) preceded this restructuring. Analysts project 25% EBITDA margins and $1 billion revenue by FY28 via 10 million unit capacity.
Strategic Timing In Competitive Landscape
The buyback aligns with India’s $19.6 billion IPO surge YTD, where consumer tech listings average 50% pops. Peers like Crompton Greaves (60x earnings) and Havells (70x) validate multiples. SoftBank’s residual stake positions it for IPO upside.
Challenges include Chinese import pricing pressure and AC/purifier ramp losses, countered by 20 new SKUs and motor vertical integration.
This founder consolidation—mirroring Lenskart’s playbook—optimizes governance for public markets while fueling InMobi’s global ambitions in the $500 billion digital ad ecosystem.
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