merger acquisition

Glance – a part of Softbank-backed InMobi – on Monday said it has acquired short-video platform Roposo for an undisclosed amount, a move that will provide it access to Roposo’s network of professional, vernacular content creators and over 42 million users.

The acquisition of the platform will enable Glance to tap into Roposo’s regional influencers and create professional vernacular, video content in line with Glance’s editorial guidelines for the lock screen, a statement said.

“The acquisition also gives Glance ownership of Roposo’s video technology, platform and brand. As a result of this acquisition, Glance will get access to Roposo’s extensive network of …more than 42 million users,” it added.

As part of the deal, about 60 people from Roposo will join Glance.

Roposo, founded by three IIT Delhi alumni, offers a TV-like interface that allows users to watch videos in 10 languages and across 24 channels that are powered by a pan-India network of regional influencers.

Nearly 60 per cent of Glance users in India belong to tier II and III cities, and spend an average of 22 minutes per day consuming content in languages including Hindi, Tamil, Telugu and English.

Most of India wants high-quality video content in vernacular since only 10 per cent of India speaks English, InMobi Group founder and CEO Naveen Tewari said.

“Glance’s focus on 3Vs – video content across a variety of topics in vernacular – has already made it India’s fastest growing content platform. This acquisition will enable Glance to bring to the fore content created by Roposo’s large vernacular influencer community,” he added.

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Glance had received an investment of USD 45 million from Mithril Capital in September this year and has been growing rapidly. It has more than 60 million daily active users (DAUs) as of November, up from 50 million DAUs in September this year. PTI SR

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