InMobi will buy back the shares to reduce SoftBank’s stake from more than 30% to less than 10%, people familiar with the matter said, asking not to be identified discussing private information. The transaction is part of a broader cap table realignment as InMobi prepares for a possible public listing.
SoftBank had previously written off its investment after InMobi struggled to scale and faced increasing competition in the global mobile advertising market, the people said. InMobi is now trying to reset its ownership structure and accelerate growth before tapping public investors.
According to the people, InMobi recently raised more than $350 million in private debt to finance the buyback and support its expansion. Representatives for SoftBank and InMobi did not immediately respond to requests for comment.
Founded in 2007, InMobi was one of India’s first global consumer technology bets and briefly positioned itself as a challenger to Alphabet Inc. and Meta Platforms Inc. in mobile advertising. The company has since diversified into marketing, content and commerce technologies and is working to strengthen profitability after years of slower growth.
SoftBank’s partial exit marks another adjustment in the Indian portfolio as the group continues to redeploy capital to late-stage and public market opportunities. The Japanese investor retains a minority stake in InMobi, which has activities in Asia and the US.
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Published on December 4, 2025
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