More Mobile Ad Money: InMobi Raises $8 Million
The mobile ad market is still more theoretical than anything else. But the investment thesis is pretty simple and compelling: The better that phones get, the more time people are going to spend on them, and the more attractive they’ll be to advertisers.
Maybe, one day! So here’s another firm that wants a piece: InMobi, which has raised an $8 million B round from Kleiner Perkins and Sherpalo Ventures. Those same firms funded the company’s earlier rounds, and the Bangalore-based ad network has now raised $15.1 million.
InMobi’s pitch is that it isn’t Google (GOOG) or Apple (AAPL), but that its ads will still work on both of those companies’ mobile platforms. Of course, plenty of other ad networks make the same pitch, more or less.
InMobi launched in the U.S. only this year, but it has already generated two billion ad impressions, says Anne Frisbie, who runs the company’s American outpost. Apple is the company’s primary revenue driver in the U.S., Frisbie says.