InMobi ties up with Amazon, Paytm
With Miip, InMobi is aiming to take on Facebook, Google for a bigger share of online advertising
Bengaluru: Mobile advertising technology company, InMobi Pte Ltd has announced partnerships with Amazon.com Inc.’s India unit and online wallet company Paytm’s owner One97 Communications Ltd for its new mobile product discovery platform Miip.
Miip helps consumers discover and purchase related products based on their preferences on a real-time basis.
With the new product, InMobi is aiming to take on Facebook Inc. and Google Inc. for a bigger piece of the online advertising market globally.
The Bengaluru-based start-up is banking on discovery-led commerce, or d-commerce, as against intent-led shopping with its Miip, which the company says will provide a “window-shopping" experience through apps.
Nearly 65% of India’s Internet traffic is through mobiles, and it accounted for more than 40% of total online sales in 2014, the company said.
D-commerce would be in front of 120 million consumers in India, which could potentially create around five billion shopping sessions within next three months, said Naveen Tewari, founder and chief executive of InMobi. InMobi spent nearly two years to build the Miip platform.
The product was launched in San Francisco on 15 July.
“We believe that d-commerce through Miip can drive up to 80% of new product discoveries for merchants and aspire to enable almost 50% of mobile transactions for mobile commerce merchants in the country within 12-24 months," Tewari said.
InMobi also introduced the “buy button" for users in India which will be powered by Paytm. The online wallet platform has about 30 million active users out of its total 100 million wallet users, said Paytm’s founder and chief executive officer Vijay Shekhar Sharma. “With over 90% of our transactions already coming from smartphones, the “Buy with Paytm" button on Miip will truly enhance more than a billion shopping sessions for all users and increase our market penetration," Sharma said.
InMobi will introduce Miip in China on 18 August.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!