Private Equity Liquidity Events
InMobi-owned Glance buys social commerce firm Shop101
Source Times of India (opens in a new tab)Press Release, (opens in a new tab)
Bengaluru-based Glance, owned by mobile advertising platform InMobi, is buying a 100% stake through a mix of debt and equity in Mumbai-based full stack e-commerce platform Shop101. With Shop101, Glance - which also owns video platform Roposo - will have access to an e-commerce technology platform, a supply chain infrastructure and the talent base required to build the celebrity and influencer driven e-commerce platform.
Glance provides dynamic content on lock screens of Android phones. It was valued at more than USD 1 billion in December 2020, when it raised USD 145 million from Google and Mithril Capital, an investment fund of PayPal founder Peter Thiel.
Company website ↗ (opens in a new tab)
From the Venture Intelligence PE-VC Deal Database: Between Jun-18 and Mar-20, Shop 101 had raised INR 143 crore from Unilever Ventures, Stellaris Venture Partners, Vy Capital and Kalaari Capital.