Jio is investing $200 mn into Glance.
Key points to note –
- Glance, founded in 2019 is a subsidiary of inmobi. Glance has two platforms:
- Roposo – creator led live entertainment commerce
- Glance – live entertainment, commerce and gaming on mobile lock screen
- For it’s investment, Jio willl get about 17% stake in Glance, implying a valuation of $ 1.2 bn. Previously, Glance has raised $145 mn from Google in December 2020 and $45 mn from Mithril Capital in September 2019.
- Jio’s investment will help Glance with the following –
- Integration into the ecosystem of Jio and Reliance Retail across devices, commerce, content, and gaming.
- Expansion into the international markets outside Asia such as US, Brazil, Mexico and Russia.
Reliance seems to be in an unprecedented hurry and is buying/ investing into anything and everything that is coming it’s way. How all of this gets integrated, offers a differentiated experience and more importantly the customer loyalty remains to be seen.