August 7, 2015
Global mobile ad network InMobi has launched Miip, a discovery platform that drives e-commerce on mobile apps. The launch happened on Wednesday in Bangalore. The company has announced partnerships with 15 companies which include companies like Amazon.in, MobiKwik, NestAway, Paytm, Urban Ladder, and ShopClues.
Miip shows an animated green monkey on apps and suggests users about products that they can buy. For example, when a user listens to music, the monkey pops up and provides information about relevant merchandise, reviews, concert tickets, music equipment, etc. All this happens in the same platform. The Miip platform collects information from existing apps to make them accessible in one place. Users can also buy products without leaving the native app. InMobi has embedded the Miip Buy button in more than 40,000 mobile apps.
The company is aiming to bring the shopping experience to the mobile phones; it is targeting 1 billion mobile users globally and 120 million users in India. Miip is currently at a beta stage. The platform will be available to all customers in the next few months. The platform has also partnered with a few international firms like JustFab, Machine Zone, Rhymeo, Spotify, Vidzy, etc.
At the launch, Founder and CEO of InMobi, Naveen Tewari said, Advertising is a $600 billion industry. Fifteen years ago, people had very little information. Today that's not the case. As consumers, we're used to snacking information and have become ultra-efficient at it. As we re-imagine advertising, we imagined people loving advertising. Miip is fundamentally transforming advertising into moments of discovery for consumers.
In India, the commerce revolution is happening. People have adopted e-commerce. The e-commerce firms are witnessing strong growth. M-commerce, although not as popular as e-commerce, is also gaining steam. D-commerce (or discovery commerce) might be the next big thing in India. InMobi said that research shows discovery-based commerce will surpass intent-based discovery by 2018, contributing to over 50% of mobile transactions in the next two years.
InMobi was founded in 2007 and has the largest independent mobile ad business in the world, operating in 100 countries, and has 24 offices in 17 countries. InMobi's core platform has 1.2 billion users. Their data centers serve six billion ad requests a day and store over 24 terabytes of data every day.