Global mobile advertising network operator mKhoj shall henceforth be known under the name InMobi, which is infinitely easier to pronounce in the Western world. The company felt the rebranding was necessary given that it will be shifting more of its focus to Western Europe – where its services are currently already live in the UK, France, Italy, Germany and Spain – after gaining sufficient scale on the Asian and African mobile markets.
The startup is certainly performing pretty well in a very crowded market.
Based on our understanding of their eCPMs and monthly ad impressions (which range up to 2 billion per month and growing), it looks like they are currently grossing over $1m in mobile ad revenues per month.
That’s not too shabby, and if you consider that the eCPM rates they informed us about are based on averages from their operations on the Asian and African mobile markets, it’s conceivable that they’re looking at multiplying that revenue soon.
That is, if they manage to get traction in Europe, where eCPMs are generally much higher. If they book some early success, the company says it will be on track to become cash-flow positive later this year.
The company’s mobile advertising service – which is targeted more to the mobile web than applications – is currently available in over 23 countries and cites advertisers like Reebok, Yamaha, Cricket Nirvana and MakeMyTrip.
mKhoj InMobi has offices in Palo Alto, India and Singapore. The company raised a total of $7.6 million to date, starting out with a $500k seed round from a group of angel investors and followed up by a multi-million financing round led by Kleiner Perkins, Caufield & Byers and Sherpalo Ventures (the VC firm started by Ram Shriram, early backer and founding board member of Google).