Mobile Ad Network InMobi Raises $200 Million

**Waqas** · September 15, 2011

Mobile ad network InMobi has raised $200 million in financing from SoftBank to counter Apple and Google in the fast-growing market.

The investment will be be doled out in two tranches — $100 million this year and then the rest in 2012, according to SoftBank. SoftBank joins Kleiner Perkins Caufield & Byers and Sherpalo Ventures in backing InMobi.

With the investment, the Bangalore, India-based InMobi will have more ammunition to take on Google, which bought AdMob, another mobile ad network, in 2009 for $750 million, and Apple, which bought Quattro Wireless in early 2010 for $275 million.

Despite the investment, mobile advertising is still a fairly small market. The total spend for such advertising is projected to hit $1.1 billion in the U.S. this year, according to eMarketer. That spend will hit $2.5 billion in 2014, the researcher estimates.

Image courtesy of iStockphoto, webphotographeer

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