The Singapore-based startup offers two kinds of services: Its namesake, Glance, delivers curated content to users’ phones without them having to unlock their screens or open any apps. Its short video platform, Roposo, is increasingly becoming a celebrity- and influencer-led commerce platform for brands.
Reliance Industries’s digital platform will invest US$200 million in the mobile content company Glance InMobi Pte, a sign regional startups continue to attract financing at strong valuations despite setbacks for some newly-public technology stocks.
The funding from Jio Platforms values the startup at about US$1.7 billion, said two people familiar with the deal asking not to be quoted since the terms are not public. Glance is also backed by Alphabet’s Google and Paypal co-founder Peter Thiel’s Mithril Capital.
