We are delighted to announce that the Firm represented Glance InMobi Pte Ltd (Glance), part of SoftBank-backed InMobi Group, with investments from Google and Mithril Capital, on its acquisition of ‘Shop101’ (O(1) India Private Limited).
Glance delivers artificial intelligence-driven personalised content to screen zero of smartphones. Shop101 is a full-stack e-commerce company that has a network of 10 million resellers and 10,000 supplier partners, serving customers across over 2,000 towns in the country.
The 100% acquisition provided an exit to early-stage backers of Shop101, namely, Kalaari Capital, Stellaris Venture Partners, Unilever Ventures Holdings, VY Capital, Ramakant Sharma and Raghunandan Gangappa. The transaction also involved acquisition of shares in Glance by Kalaari Capital, Stellaris Venture Partners, Unilever Ventures Holdings and VY Capital.
Kochhar & Co. assisted Glance on all aspects of the transaction including due diligence, structuring the proposed acquisition, assistance in drafting and negotiating the relevant definitive agreements, and providing execution and closing related assistance.
The matter was led by Senior Partner, Abhilekh Verma and supported by Principal Associates, Ajay G Prasad, and Anuj Kaila. The due diligence team comprised of Senior Associate Siddharth Santosh and Associates Megha Savanur and Puneet Abrol.
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