SoftBank has pared its stake in InMobi, India’s first unicorn, through a $250 million buyback deal. The move reduces its holding from over 30% to below 10%, while InMobi’s founders boost their stake to nearly 60%. The reshuffle comes as the adtech firm prepares for a potential India listing.
SoftBank Group Corp. has significantly reduced its stake in InMobi, its first major India investment, marking a pivotal reshaping of its startup portfolio. The Japanese investor sold a large portion of its shares back to the Bengaluru-born, Singapore-headquartered adtech company in a $250 million buyback transaction, cutting its holding to under 10% from more than 30%.
The deal is part of a broader cap-table restructuring as InMobi gears up for a potential public listing in India next year. Founded in 2007 by Naveen Tewari, Abhay Singhal, Mohit Saxena, and Piyush Shah, InMobi became India’s first unicorn in 2011 when SoftBank invested.
With this buyback, InMobi’s founding team has boosted its combined stake to nearly 60%, regaining majority control. Including employee stock options, founders and staff now hold about 80% of the company, strengthening internal ownership before the IPO.
Major Takeaways
SoftBank Exit: Stake reduced from 30%+ to below 10%.
Buyback Value: $250 million transaction.
Founders’ Control: Shareholding rises to ~60%, with ESOPs pushing combined ownership to ~80%.
IPO Plans: InMobi preparing for India listing in 2026.
Portfolio Shift: SoftBank reshaping its India bets amid mixed returns across startups.
Conclusion: SoftBank’s partial exit from InMobi signals a strategic recalibration of its India portfolio, while InMobi’s founders reclaim control to steer the company toward its long-awaited IPO. The move underscores both the challenges and resilience of India’s startup ecosystem, where early bets are now maturing into public-market contenders.
Sources: Moneycontrol