Bengaluru: Mobile advertising technology company InMobi has launched a new platform called Miip, a product that will help the company remain an independent entity and differentiate it in a crowded business dominated by Facebook Inc.
The new platform will track users’ browsing habits across various mobile apps and show ads in the form of text bubbles instead of the traditional display ads. Miip will use visuals within mobile apps, extract content from apps, show ads based on user shopping patterns on the mobile and also allow shoppers to buy products through the payments service Stripe, InMobi said in a statement on Wednesday.
“Unlike traditional push-based advertising, Miip will capture a consumer’s attention through stories stitched together based on a strong unifying theme. For instance, a user who likes rock music will see an intelligently crafted story with curated recommendations across relevant merchandise, track reviews, concert tickets, music equipment or trending rock collections, all within native apps," the company said.
InMobi, which is backed by Japan’s SoftBank, has for years been touted as a potential acquisition target for Facebook and Google Inc., both of which dominate online advertising and are now competing aggressively for mobile ad revenues. Various media reports over the past year have speculated that InMobi, which is among India’s most valuable start-ups, has been struggling to raise money. InMobi has denied these reports and speculation about a sale to Google or Facebook.
The company’s new product is currently in private beta with companies including music streaming service Spotify and retailers such as The RealReal and Joyus. The product will be available for all customers over the next few months, the company said.