Mobile ad network InMobi has acquired a San Francisco based startup MMTG Labs, reports TechCrunch. While the financial details of the acquisition were not disclosed, the report states that the entire team including co-founders Ryan Merket and Nalin Mittal will be joining InMobi.
Founded in 2010, MMTG Labs operates a Facebook apps marketplace Appbistro and a white label app distribution platform AppGalleries (previously known as AppStores.com), which allows anyone to create a web and mobile compatible app gallery.
While AppBistro allows developers to create apps for Facebook pages and Facebook Timelines and monetize it on a revenue-share basis, AppGalleries offers tools like an app curation service which allows publishers to curate apps from Apple’s iTunes App Store, Google Play Store, Facebook and OpenAppMkt and features like the ability to run the app gallery on a custom domain, allowing developers to submit apps to their store, add their own reviews and ratings and more at zero fee.
In August 2010, the company had raised $550,000 angel funding from Sand Hill Angels, Dave McClure’s 500 Startups, Sequoia Capital’s Alfred Lin, i/o Ventures, Zelkova Ventures, Seraph Group, Erik Moore, and Thomas McInerney.
As TechCrunch points out, it’s likely that AppGalleries caught the attention of Inmobi, as it’s a relatively novel concept. Publishers can deploy custom app stores and earn revenue in form of affiliate commission when users buy and install apps through their customised stores. AppGalleries also allows them to have sponsored app listings, so it’s a smart way to integrate ad monetization via the app ecosystem. With more and more empowered users picking up smartphones, and apps becoming a way of life, this makes good business sense for Inmobi, as it would get access to the company’s technology platform and would be able to deploy a similar solution across its existing and new clients.
In August 2011, InMobi had acquired the San Francisco HTML5 ad maker Sprout which gave InMobi access to the Sprout’s platform which allows advertisers and publishers to build, serve and measure rich media HTML5 ads, under one umbrella. InMobi had later said that it will use this platform to create microsites for its advertisers who haven’t yet adopted the mobile platform.
The company had raised $200 million in a Series C funding round from Japanese telecom and internet company, Softbank Corporation, in September 2011, with previous rounds being $8 million Series B round raised from its existing investors Sherpalo Ventures and Kleiner Perkins Caufield & Byers in July 2010, a $7.1 million Series A round from KPCB and Sherpalo Ventures in 2008 and an initial capital of $500,000 from Mumbai Angels in 2007.
InMobi had recently shifted their focus back to India by opening up offices in Mumbai and Delhi along its existing Bangalore office which works as a tech center and appointing Sandeep Deshpande as the Country General Manager for India. The company also claimed to have served around 100 billion ad impressions served globally to 570 million customers, of which 16 billion were served in India.
Anupam Saxena also contributed to this post
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