InMobi, a mobile marketing and advertising platform, has laid off 50-70 employees, according to people aware of the development. The company has cited performance metrics as the reason for the same.
“InMobi / Glance is in the market actively hiring talent for the ambitious plans that we have. We also evaluate the performance of our existing talent on an annual basis and take decisions based on the same. This is business as usual for us and part of our annual process. This year is no different,” a company spokesperson said in a statement.
According to initial reports, employees of InMobi and Glance, its lock screen-based content provider, have been affected by the current round of lay-offs. The company l has around 2,600 employees.
Founded in 2007, InMobi became India’ first unicorn in 2011, and is backed by various investors including SoftBank and Kleiner Perkins. Glance too became a unicorn in 2020 after it raised $145 million from Google and investment firm Mithril Capital.
The start-up ecosystem has seen lay-offs by multiple companies in the recent past, as the sector braves the funding winter. Recently, Swiggy laid off 380 employees, Sharechat laid off 400, Dunzo laid off 90, Ola laid off 200, LEAD laid off 60, Unacademy’s Relevel laid off 40, Cashfree Payments laid off 100, Moglix laid off 30 and Bounce laid off 90 employees in January.