According to sources, online advertising startup InMobi, is struggling to retain mid and senior executives amid questions about whether new strategic initiatives and the future of the company. In the last six months, around 12 mid- and -senior-level executives have resigned, and InMobi is not gaining market share in a business dominated by tech giants like Google.
Some of the people at top positions who resigned are :Manish Dugar, CFO, who joined Practo; Naresh Agarwal, who was vice president of engineering, big data and audience platform; Ravikiran Vadapally who served as VP of finance;M&A head Nimish Joshi who went to Ola; Commerce Head Khushboo Maheshwari; Debleena Das, who headed talent acquisition, joined venture capital firm Matrix Partners; Khushboo Gupta, who heads strategy and operations of the company’s app download business is currently serving her notice period. The company had about 3000 employees when it was at its peak , and the number is now down to 1500
Founded in 2007 by Naveen Tewari, currently has some 1,500 employees compared to twice that number when it was at its peak. Softbank had poured $200 million into InMobi in 2011 but wrote down most of that amount in 2014. InMobi, which was estimated to be valued at $1 billion, now generates between around $300 million in annual revenue.
While the company assures that it will turn profitable in next 60-90 days, to ensure this InMobi has taken several steps towards driving cost efficiencies such as pausing moonshot projects and restructuring teams to ensure investments are aligned with the right teams, business verticals and regions. The company has started coming down hard on some of its unprofitable and non-revenue generating initiatives. According to sources, the company has dropped its plans to build an InMobi app and the analytics platform.