InMobi, the mobile advertising company based in Singapore, has finally announced operational profitability following solid growth in China last year.
Though no exact figure was mentioned, the company said it had achieved both EBITDA and net profitability. That makes it the second Indian unicorn to offer some good news.
Naveen Tewari, Co-Founder of InMobi said:
“We took some courageous decisions to drop non-core areas and focus on existing bets which have held us in good stead.”
The Economic Times estimates revenues to be between $425 million and $475 million and the company may finish 2016 with an annual profit of $40 million.
Much of its growth has been driven by InMobi’s push into China, where it launched operations back in 2011. The company currently has teams in Beijing and Shanghai to build strong partnerships with local mobile advertisers and clients.
Over the past three years, the company’s revenue from China has jumped 15x and it has doubled investment in the country. Another $15 million of investment are planned for its Chinese operations, the company said. The market has fast become InMobi’s second largest revenue market at 28% of overall revenue.
However, InMobi’s largest target market remains to be the US, which accounts for 30% of the company’s overall revenue.
In Indonesia, the company says it reached around 70 million users or 90% of smartphone users.
Justin Wilson, Operating Partner at SoftBank, a major backer of InMobi, explains:
“We believe inMobi’s global footprint, compelling technology, and world class team, position them well to partner with advertisers to reach an increasingly mobile-centric audience.”