“Mobile ad services platform InMobi is in advanced stage talks to acquire social commerce firm Shop101,” Entrackr reported, citing three people familiar with the matter.

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In its July 2020 financing round, Shop101 was valued at US$60 million. The acquisition could cut its valuation by half to US$30 million to US$35 million, signaling a distressed deal.According to one source, InMobi and Shop101 have been discussing the deal in the last few months after early talks with Indian conglomerate Reliance and US giant Amazon hit a dead end.