In order to cut costs, mobile ad network InMobi has reportedly cut 10% of its staff. The cutback is affecting a total of 100 employees and is an indication of the strong competition within the mobile advertising space. InMobi has been in strong competition with Facebook and Google to provide data-driven mobile campaigns.
InMobi provides a mobile advertising platform
More recently, the company founded in 2007 hasn’t been able to reach its revenue targets.
The company previously received substantial funding with a $200m round from Softbank in 2011. It was also named one of MIT Technology Review’s 50 most disruptive companies of 2013.
An anonymous source with knowledge of the matter, said:
“Investors have told [InMobi] to reduce costs. The layoffs have happened from the senior executive level to the programmer ranks.”
A spokesperson confirmed that the company had a strategy in place for 2016 to drive growth, which also included the hire of 40 new members of staff.