Mobile marketing and advertising firm InMobi is in talks to acquire video-sharing platform Roposo, a media report said.
Citing four sources it didn’t identify, digital media publication Entrackr said that the overall size of the deal will be less than $20 million (Rs 140 crore) and that it will mostly be a stock transaction.
The report said that Roposo has been struggling to raise a large round of funding and that this pushed the company to explore merger possibilities.
The startup has raised a total of about $32 million from Tiger Global, Bertelsmann India Investments and other investors across five institutional rounds. It had last secured $10 million from Tiger Global and Bertelsmann late last year.
Meanwhile, Reliance Industries Ltd chairman and billionaire Mukesh Ambani as well as India’s National Investment and Infrastructure Fund may buy shares of Saudi Aramco when the company’s initial public offering opens for subscription this week, media reports said.
Aramco, the world’s biggest oil company, is seeking to raise about $25.6 billion via the IPO. This would value the company around $1.7 trillion.
In August, Aramco had signed a non-binding letter of intent to buy a 20% stake in Reliance Industries for roughly $15 billion.