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<ul><li>Computer Age Management Services’ shares listed at ₹1518, with an upside of 23%.</li><li>Within minutes after listing, shares of CAMS lost nearly 5% of their value and was trading at ₹1457 apiece</li><li> The company’s total market cap rose to ₹7,073.35 crore at 10:25 am. </li></ul>The ₹2,244 crore IPO of Computer Age Management Services (CAMS) made a strong debut on BSE today. The IPO price band was set at ₹1,229-1,230. The stock listed at ₹1,518 with an upside of 23%. Within minutes after listing, the shares of CAMS lost nearly 5% of their value and were trading at ₹1457 apiece at 10:22 am.<br /><br />    <div type="image" title="CAMS" msid="78420631" hostid="261"></div><br />The company’s total market cap rose to ₹7,073.35 crore at 10:25 am. A total traded quantity of 88.67 lakh shares changed hands on BSE, amounting to a turnover of ₹1320.40 crore.<br /><br /><strong>What excited the investors? <br /></strong><br />CAMS IPO did witness strong demand. The issue was subscribed 47 times on the final day of bidding, receiving bids for 60.27 crore equity shares against the IPO size of over 1.28 crore equity shares, as per the subscription data from the stock-exchanges. <br /><br />According to the Nirmal Bang report, dated September 21, “over the past 5 years, CAMS has further strengthened its market share from 61% in March 2015 to 70% in July 2020, based on AAUM services. With the MF RTA industry estimated to grow at a CAGR of 15% over FY20-25E, we believe CAMS can also deliver similar growth going forward.” <br /><br />Ahead of the IPO, the company was also able to raise ₹667 crore from several anchor investors. including SmallCap World Fund, HSBC, Abu Dhabi Investment Authority, among others.<br /><br /><strong>SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stock-movers-ril-pvr-bajaj-auto-inox-leisure-ongc-oil-india-and-more/articleshow/78420379.cms">Top stock movers — RIL, PVR, Bajaj Auto, INOX Leisure, ONGC, Oil India and more</a><br /><br /></strong><a href="https://www.businessinsider.in/science/space/news/isro-to-launch-venus-mission-in-2025/articleshow/78420140.cms"><strong>ISRO to carry first-ever French payload abroad Venus mission scheduled for 2025</strong></a><br />

Strong listing for CAMS — stock debuts 23% higher than IPO issue price

<ul><li>At 7:40 am, the SGX Nifty was down 0.05%, indicating a lower start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to have a tepid start on Tuesday, led by negative cues from the global markets. <br /><br />At 7:40 am, the SGX Nifty was down 0.05%, indicating a lower start for Nifty50. The <a href="https://www.businessinsider.in/stock-market/news/us-stocks-waver-as-investors-weigh-vaccine-distribution-against-new-lockdown-measures/articleshow/79730454.cms">US stocks closed lower on Monday</a> as investors weighed vaccine distributions, stimulus progress, and the possibility of new economic restrictions. The Dow Jones Industrial Average closed 185 points lower, and the S&amp;P 500 was down 0.44%. <br /><br /><strong>These are the stocks to watch out for during the trading session today:<br /></strong><br /><strong>NMDC<br /></strong><br />The ₹1,378-crore share buyback of the state-owned National Mineral Development Corporation (NMDC) will be starting on December 17 and will remain open till December 31. <br /><br />The shares of NMDC closed 5% higher on Monday.<br /><br /><strong>RIL, Airtel and Vodafone-idea<br /></strong><br />The telecom arm of RIL, Reliance Jio, has accused Airtel and Vodafone Idea of resorting to unethical ways to spread rumours that Reliance stands to gain from the new farm laws. The telecom operator in a letter to the Telecom Regulatory Authority of India (Trai) has sought strict action against the two companies and said that such acts of the rival companies could jeopardise safety and security of Jio’s employees.<br /><br />The shares of RIL, Airtel and Vodafone-idea closed nearly 1% lower on Monday. <br /><br /><strong>Tata Consultancy Services (TCS)<br /></strong><br />IT services major Tata Consultancy Services (TCS) said it had expanded its strategic partnership with Star Alliance, the world’s largest airline alliance with 26 members including Air India, Air Canada and Air China. <br /><br />TCS’ partnership with Star Alliance spans over 15 years and multiple geographies. Under the expanded scope of the partnership, TCS will provide predictive and real-time business analytics, improve customers’ overall experience and accelerate Star Alliance’s digital transformation journey, the company said in a statement.<br /><br />The shares of TCS closed 0.47% higher on Monday. <br /><br /><strong>Tata Steel<br /></strong><br />Tata Steel has acquired 4.32% additional equity in Tata Steel Minerals Canada, taking its overall indirect shareholding to 82% in the company. <br /><br />The shares of Tata Steel closed 1% higher on Monday. <br /><br /><strong>Computer Age Management Services (CAMS)<br /></strong><br />Computer Age Management Services (CAMS) has incorporated a wholly-owned subsidiary named CAMS Payment Services. It will be making an application to the RBI for registration as a payment aggregator.<br /><br />The shares of CAMS closed 0.46% higher on Monday.<br /><br /><strong>Bank of Maharashtra<br /></strong><br />The State-run Bank of Maharashtra has raised over ₹200 crore through a private placement of bonds. The fundraising is part of the lender’s ₹1,000 crore tier-II bond programme.<br /><br />The shares of Bank of Maharashtra closed 0.69% higher on Monday.<br /><strong><br />SEE ALSO:<a href="https://www.businessinsider.in/business/corporates/news/interview-home-recipes-that-are-set-for-a-7-million-ipo-mrs-bectors-food-is-no-cookie-cutter/articleshow/79721783.cms" data-type="tilCustomLink"> INTERVIEW: Home recipes that are set for a $73 million IPO⁠— Mrs Bector’s Food is no cookie cutter</a><br /><br /></strong><a href="https://www.businessinsider.in/tech/apps/news/gmail-youtube-google-docs-crash-for-users-across-the-world/articleshow/79720225.cms" data-type="tilCustomLink"><strong>YouTube, Gmail, Google Meet, Google Docs and Play Store restored for some users as others still face outage</strong></a><br />

Top stocks to watch — RIL, Airtel, Vodafone-Idea, TCS, Tata Steel, CAMS, NMDC and others

<ul><li>The shares of Chemcon Speciality Chemicals will hit the bourses today. </li><li>The grey market premium today was<a href="https://www.ipowatch.in/2020/09/chemcon-ipo-gmp-grey-market-premium.html"> trading at ₹380-₹390 apiece</a>, pointing towards the listing gains of nearly 111% over the issue price band. </li><li>It received bids for 976 million equity shares against the IPO size of over 6.5 million equity shares.</li></ul>The shares of specialised chemical products manufacturer, Chemcon Speciality Chemicals, are slated to be listed on the bourses today. And, the grey market premium is pointing towards the listing gains of nearly 111% over the issue price band of ₹338 to ₹340 per equity share. <br /><br />The grey market premium today was<a href="https://www.ipowatch.in/2020/09/chemcon-ipo-gmp-grey-market-premium.html"> trading at ₹380-₹390 apiece</a>. Although, the grey market premium isn’t an official measure of the market premium. But it gives a fair idea of the demand for the shares in the market. Grey market premium is the measure of the extra amount that the market is ready to pay for a newly listed company’s shares.<br /><br />The grey market premium (GMP) of Chemcon took a massive hit last week due to weak market fundamentals amid the global selloff. However, it has seen a sharp revival, compared to its other IPO peers. <br /><br /><strong>Robust demand for <keyword id="9971667" type="UNKNOWN" weightage="20" keywordseo="Chemcon-IPO">Chemcon IPO</keyword><br /></strong><br />The ₹318 crore initial public offering (IPO) of Chemcon saw a stellar demand for its shares in the market, and the 149 times oversubscription on the final day of bidding during IPO is proof of that. <br /><br />It received bids for 976 million equity shares against the IPO size of over 6.5 million equity shares, as per the subscription data from the stock-exchanges. <br /><br /><table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><strong>Chemcon IPO<br /><br /></strong></td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><strong>Qualified Institutional Buyer<br /><br /></strong></td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><strong>Non-institutional Investor<br /><br /></strong></td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><strong>Retail Individual Investor<br /><br /></strong></td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><strong>Employee <br /><br /></strong></td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><strong>Total</strong><br /><br /></td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shares Offered<br /><br /></td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,868,344<br /><br /></td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,407,249<br /><br /></td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3,283,580<br /><br /></td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0<br /><br /></td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"><br />6,559,173<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">No. of times issue subscribed <br /><br /></td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">113.54 times<br /><br /></td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">449.14 times<br /><br /></td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">41.15 times<br /><br /></td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0<br /><br /></td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">149.30 times<br /><br /></td></tr></tbody></table><br />Ahead of the IPO, the company also raised ₹95.4 crore from several anchor investors, including IDBI Emerging Business Fund, ICICI Prudential Child Care Plan, IIFL Special Opportunities, HSBC Global Investment, Mirae Asset Health Care, Kuber India, Ashmore India, India Acorn and Tata Multi-Asset Fund among others. <br /><br /><strong>SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/cams-ipo-shares-are-trading-at-over-25-premium-in-the-grey-market/articleshow/78400317.cms" data-type="tilCustomLink">CAMS to list tomorrow — trades at over 25% grey market premium despite volatile market conditions</a><br /><br /></strong><a href="https://www.businessinsider.in/business/auto/news/honda-hness-cb-350-unveiled-in-india-at-1-9-lakh/articleshow/78402417.cms" data-type="tilCustomLink"><strong>Honda’s new cruiser bike H’ness CB 350 launched in India — to be priced around ₹1.9 lakh</strong></a><br />

Chemcon trades at over 111% grey market premium ahead of listing today

Mumbai, International quick-service restaurant chain, <keyword id="9903617" type="COMPANY" weightage="20" keywordseo="burger-king-india-ltd">Burger King India Ltd</keyword> (BKIL) began its journey on Indian bourses with a stupendous opening garnering a premium of over 130% on the first day of trade on Monday hitting the upper circuit just after 2.30 p.m.<br /><br />Against the issue price of ₹60, <keyword id="33542" type="COMPANY" weightage="20" keywordseo="Burger-King">Burger King</keyword> stock opened at ₹115.35 on BSE, while on the National Stock Exchange, shares made a debut at %112.50, a premium of over 87% over the <keyword id="72231" type="PERSON" weightage="20" keywordseo="IPO-price">IPO price</keyword>.<br /><br />After 2.30 p.m., the stock reached the upper price band of ₹138.40, 130.67% higher than the issue price on BSE. The upper circuit halts the trading in stocks for some time.<br /><br />The performance of the stock had even defied projections made by analysts who had expected Burger King to list at around 70-75% premium over issue price.<br /><br />"Such listing was in line with our expectation as the company issue was priced at a significant discount compared to listed peers such as Jubilant FoodWorks (Domino's Pizza) and Westlife Development (McDonald). Short term investors can book profit. We advise long term investors to stay invested in the company as there is ample scope available for the company to increase its business in India," Keshav Lahoti<br /><br />Associate Equity Analyst, Angel Broking Ltd said, "Even after such bumper listing, there is no issue with the valuation of the company. In the future, we expect the company to gain market share by opening more stores compared to the competitors. As the store count will increase, operating leverage will kick in and the company will be able to report profit and it will lead re-rating of the multiple for the stock," he added.<br /><br />BKIL enjoys exclusive <keyword id="10435142" type="COMPANY" weightage="20" keywordseo="national-master-franchisee-rights">National Master Franchisee Rights</keyword> in India till December 31, 2039, with an obligation to develop and open at least 700 restaurants by December 2026. It is one of the fastest growing QSR chain India with 268 restaurants spread across 17 states/UTs and 57 cities. It has already garnered 5% market share in India's ₹34,800 crore QSR market.<br /><br />According to Motilal Oswal Financial Services, Over FY18-20, BKIL's Revenue/EBITDA grew at a CAGR of 49%/258% led by 2x the store strength. However, it continues to make losses at PAT level. The same store sales growth stood at 12.2%/29.2% in FY18/FY19 while it surprisingly became flat in FY20. In 1HFY21, revenue declined 68% <keyword id="63194" type="PERSON" weightage="20" keywordseo="YoY">YoY</keyword>, while it made losses at EBITDA and PAT levels due to the Covid-19 impact.<br /><br /><strong>SEE ALSO:<br /><a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-ril-airtel-vodafone-idea-tcs-tata-steel-cams-nmdc-and-others/articleshow/79732131.cms">Top stocks to watch — RIL, Airtel, Vodafone-idea, TCS, Tata Steel, CAMS, NMDC and others</a><br /></strong><a href="https://www.businessinsider.in/tech/news/comparing-the-apple-m1-macbook-vs-the-intel-macbook/articleshow/79733783.cms"><strong>Apple vs Intel – Comparing the Apple M1 MacBook vs the Intel MacBook</strong></a><br />

Burger King India roll-on bourses continue — shares locked in 20% upper circuit

<p><div class="KonaFilter image-container display-table lead-image-large"><div><div class="image on-image"><p class="source"><span>REUTERS/Nir Elias</span></p><p class="caption">An employee sorts freshly harvested cannabis buds at a medical marijuana plantation.</p></div><p></p></div></div></p><ul class="summary-list"><li><strong><a href="https://markets.businessinsider.com/stocks/aurora_cannabis-stock">Aurora Cannabis</a> is planning for a US initial public offering in October, the company's chief corporate officer said.</strong></li><li><strong>The Canadian cannabis producer was reportedly in talks with Coca-Cola to make a CBD-infused drink.</strong></li><li><strong>Marijuana stocks have been red-hot as of late.</strong></li><li><strong><a href="https://markets.businessinsider.com/stocks/aurora_cannabis-stock">Watch Aurora Cannabis trade in real time here</a>.</strong></li></ul><p><a href="https://markets.businessinsider.com/stocks/aurora_cannabis-stock">Aurora Cannabis</a>, the Canadian cannabis producer that was <a href="https://markets.businessinsider.com/news/stocks/weed-stocks-coca-cola-eyeing-cbd-infused-drinks-with-aurora-cannabis-report-2018-9-1027539761">reportedly in talks with Coca-Cola</a> to make a drink infused with CBD, one of the nonpsychoactive compounds found in cannabis, is targeting a US stock-market debut in October, a report says. </p><p><span>"We're targeting the month of October to establish a U.S. listing," Cam Battley, Aurora's </span><span>chief corporate officer, <a href="https://business.financialpost.com/investing/aurora-cannabis-targeting-october-for-u-s-stock-listing">told the Financial Post</a> on Tuesday. </span></p><p><span>An initial public offering on US markets has become more attractive in recent weeks as cannabis stocks have seen mouthwatering gains. It all started when <a href="https://markets.businessinsider.com/news/stocks/canopy-growth-stock-price-ceo-interview-on-partnering-with-corona-parent-company-constellation-brands-2018-7-1027400030?utm_source=markets&amp;utm_medium=ingest">Canopy Growth received a $4 billion investment from Constellation Brands</a>, the beverage maker behind Corona beer and Svedka vodka, sending its stock up more than 22% in a single day. </span></p><p><span>And rival <a href="https://markets.businessinsider.com/stocks/tlry-stock">Tilray</a> has seen its stock surge more than 900% following its July IPO. It was recently boosted by word the company had received clearance <a href="https://markets.businessinsider.com/news/stocks/weed-stocks-tilray-approved-to-import-medical-marijuana-to-us-2018-9-1027543755?utm_source=markets&amp;utm_medium=ingest" target="_blank" rel="noopener">to export medical marijuana to the United States</a> for a clinical drug trial. </span></p><p><span>But a listing won't come without some risk. A Politico report published last week said that workers of Canadian cannabis companies could <a href="https://markets.businessinsider.com/news/stocks/weed-stocks-tilray-workers-may-face-lifetime-us-travel-ban-1027535608">face a lifetime travel ban to the US</a>. </span></p><p><span>"If you work for the industry, that is grounds for inadmissibility," Todd Owen, the executive assistant commissioner for the US Customs and Border Protection's Office of Field Operations, told Politico.</span></p><p><span><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span><a href="https://markets.businessinsider.com/stocks/aurora_cannabis-stock">Markets Insider</a></span></p></div><p></p></div></div></span></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/why-horseshoe-crab-blood-expensive-2018-8">Why horseshoe crab blood is so expensive</a></h3>        <div>                    </div>    </div>

The Canadian cannabis producer that was in talks with Coca-Cola to make a CBD-infused drink is reportedly targeting a US IPO in October

<p><em>This story was originally sent to thousands of professionals just like you in this morning's IoT INSIDER daily newsletter.  Don't be left in the dark while your competition gets ahead each morning. <strong><a href="http://www.businessinsider.com/intelligence/insider-newsletter?&amp;utm_source=House&amp;utm_term=CtgrPr_MI-mobile-news-2015-6-17&amp;utm_campaign=CtgrPr_nlsa">Learn more about our 7-day FREE trial now </a><a href="http://www.businessinsider.com/intelligence/insider-newsletter?&amp;utm_source=House&amp;utm_term=CtgrPr_MI-mobile-news-2015-6-17&amp;utm_campaign=CtgrPr_nlsa">»</a></strong></em></p><p>Nest announced the launch of the Nest Cam, the first new product the smart thermostat company has launched since it was acquired by Google. The Nest Cam is the result of another Google acquisition: its $555 million purchase last year of Dropcam.</p><p>The new camera is an updated version of Dropcam's, with improved resolution and night vision, and can be placed around the home for security monitoring. The camera will start shipping next week and will be priced at $199.</p><p><strong><em>Finding this article interesting? Thousands of professionals just like you had it in their inbox first. Stay ahead of the curve and gain a comprehensive understanding of the latest news &amp; trends, start your day with the IoT</em></strong><strong><em> INSIDER. <a href="http://www.businessinsider.com/intelligence/insider-newsletter?&amp;utm_source=House&amp;utm_term=CtgrPr_ECI-buy-button-2015-6-16&amp;utm_campaign=CtgrPr_nlsa"> Get 7-days FREE » </a></em></strong></p><p><div class="KonaFilter image-container display-table float_right"><div><div class="image"></div></div></div>Along with the new camera,<strong> </strong>Nest also announced a partnership with home insurers Liberty Mutual and American Family to give customers who own Nest products up to a 5% discount on their premiums.</p><p>Nest also announced a new app that will allow Nest products to work together. For instance, if the Nest smoke alarm senses a problem, it can tell the Nest thermostat to turn off the heating system in case of carbon monoxide. Nest will be pushing software updates to its smart thermostats and smoke alarms for that integration.</p><p>Nest's smart thermostat and security camera give it a foothold in the two smart home product categories we think will grow the fastest: smart home energy and smart home security.</p><p>Here are other stories you need to know from today's IoT INSIDER:</p><ul><li>CONSUMER DEMAND FOR SMART HOME PRODUCTS FALLING</li><li>FITBIT'S IPO A BIG SUCCESS</li><li>TESLA PARTNERS WITH LEADING BATTERY TECH RESEARCHER</li><li>MOBILE DATA WILL BE HEAVILY RELIANT ON WI-FI BY 2019</li><li>PLANS FOR THE APPLE WATCH 2 LEAKED</li></ul><p>Don't miss another day of breaking developments! Stay ahead of the curve and gain insight into the latest news &amp; trends. Join thousands of other professionals who start the day with IoT INSIDER. <strong><a href="http://www.businessinsider.com/intelligence/insider-newsletter?&amp;utm_source=House&amp;utm_term=CtgrPr_MI-mobile-news-2015-6-17&amp;utm_campaign=CtgrPr_nlsa">Try it FREE for 7 days now »</a></strong></p>

Google is now one step closer to taking over your connected home with the launch of Nest Cam

<p></p><div class="KonaFilter image-container display-table lead-image-large"><div><div class="image on-image"></div><p></p></div></div><ul class="summary-list"><li>Exercise startup <a href="https://www.youtube.com/watch?v=erqLKwwZCVE">Peloton</a> makes high-end stationary bikes - and <a href="https://www.youtube.com/watch?v=a_M7NGB4S_k">over-the-top advertising</a> geared toward the affluent.</li><li>Earlier this year, social-media users took to Twitter <a href="https://twitter.com/ClueHeywood/status/1089702015767179265?s=20">to poke fun at Peloton's ads</a>, which typically feature a physically fit person <a href="https://www.youtube.com/watch?v=pbpgOJEpOWk">cycling in a luxurious home</a>.</li><li><a href="https://www.sec.gov/Archives/edgar/data/1639825/000119312519230923/d738839ds1.htm">Peloton filed for its IPO</a> on Tuesday, reporting it generated $915 million in revenue last fiscal year, which ended in June.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories.</a></li></ul><p><a href="https://www.youtube.com/watch?v=erqLKwwZCVE">Peloton</a> is known for its high-end stationary bikes - and its <a href="https://www.wsj.com/articles/peloton-shifts-gears-with-more-attainable-marketing-plan-1508959554">over-the-top advertising</a>.</p><p>The exercise startup filed for its initial public offering on Tuesday, and <a href="https://www.sec.gov/Archives/edgar/data/1639825/000119312519230923/d738839ds1.htm">according to its prospectus</a>, it generated $915 million in revenue its last fiscal year. Peloton first made its name with stationary bikes that connect to a tablet streaming spin classes, making it a kind of at-home <a href="https://www.businessinsider.com/why-i-stopped-going-to-soulcycle-2015-7">SoulCycle</a>. In fact, Peloton overtook SoulCycle in customers last year, <a href="https://blog.secondmeasure.com/datapoints/peloton-subscriptions-doubled-over-past-year/">according to data company Second Measure</a>.</p><p>Peloton's <keyword id="35666" type="COMPANY" weightage="60" keywordseo="advertising">advertising</keyword> has also gained notoriety, <a href="https://www.wsj.com/articles/peloton-shifts-gears-with-more-attainable-marketing-plan-1508959554">but for all the wrong reasons</a>. Earlier this year, <a href="https://twitter.com/ClueHeywood/status/1089702015767179265?s=20">people took to Twitter</a> to make fun of Peloton's ads. The glossy <keyword id="6354839" type="UNKNOWN" weightage="60" keywordseo="marketing">marketing</keyword> campaign featured physically fit users cycling in modern, luxurious homes that often overlook a futuristic metropolis or expansive backyard. Oh, and their Peloton is almost exclusively positioned <a href="https://www.youtube.com/watch?v=a_M7NGB4S_k">somewhere in the middle of the room</a>.</p><p>One Twitter user saw Peloton's over-the-top ads as the perfect comedic opportunity.</p><p>&#xa0;</p><p>Other Twitter users quickly followed suit.</p><p>Despite the comedic Twitter threads, Peloton's marketing team has said the campaigns were intentional and not a joke. In fact, the marketing had been intended for wealthy clientele from the beginning.</p><p>"We had this idea of a very affluent rider who many of our early adopters were," Carolyn Tisch Blodgett, Peloton's brand marketing lead, <a href="https://www.wsj.com/articles/peloton-shifts-gears-with-more-attainable-marketing-plan-1508959554">told the Wall Street Journal</a>.</p><p class="tagline"><a href="https://www.businessinsider.com/intelligence/top-10-trends-in-digital-media?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_leadgen&amp;itm_content=advertising&amp;itm_campaign=top-10-trends-in-digital-media"></a></p><div></div><div></div><div></div><div></div><div></div><div></div><div></div><div></div><div></div><div></div>    <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/advertising-tricks-sales-manipulation-2014-4">5 Tricks Advertisers Use To Make You Buy Their Products</a></h3>        <div>                    </div>    </div>

An over-the-top Peloton ad showing the super-wealthy biking in penthouses, zen gardens, and sunrooms led to one of the year's best Twitter threads

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span><a href="http://pictures.reuters.com/C.aspx?VP3=SearchResult&amp;ALID=2C0BF1FJQ1ETW#/SearchResult&amp;ALID=2C0BF1FJQ1ETW&amp;VBID=2C0BX4I2P0A7&amp;POPUPPN=2&amp;POPUPIID=2C0BF1FJQ15O8">Reuters/Daniel Becerril</a></span></p><p class="caption">Inmates are seen in the Topo Chico prison during a media tour in Monterrey, Mexico.</p></div><p></p></div></div>Here is what you need to know.</p><p><strong><a href="http://www.businessinsider.com/china-took-action-after-bank-lending-surged-by-record-amount-2016-2">China reportedly raised the reserve requirement ratio for some banks</a>.</strong> The People's Bank of China has reportedly hiked the amount of money some banks are required to hold in reserves, according to Bloomberg. This report surfaces just days after Beijing announced Chinese banks extended <span>2.51 trillion yuan ($390 billion) worth of new loans</span> in January, the largest on record. While no specific details have been announced, the increase is reportedly for banks that lent too quickly during the month.</p><p><strong><a href="http://www.bloomberg.com/news/articles/2016-02-19/u-k-retail-sales-surged-most-in-more-than-two-years-in-january">UK retail sales surged</a>.</strong> Retail sales in the UK jumped 2.3% month-over-month in January, easily surpassing the 0.7% gain that was expected by the Bloomberg consensus. The reading was the strongest since January 2014, and was helped by retailers cutting costs to clear out inventories, according to the Office for National Statistics. The British pound is weaker by 0.3% at 1.4288.</p><p><strong><a href="http://www.businessinsider.com/norway-sovereign-wealth-fund-expects-annual-loss-2016-2016-2">The oil crash is crushing the world's largest sovereign wealth fund</a>. </strong>Norway's sovereign wealth fund is expected to see outflows for the first time since 2000 as the country's oil-reliant economy reels from the oil glut. According to Bloomberg, the Norwegian government is expected to withdraw up to <span>80 billion kroner ($10 billion) from its wealth fund throughout 2016. The number marks a huge increase from the government's announcement in October that it planned to spend<span> around 4.9 billion kroner ($570 million) this year to support the economy. In his annual speech on Thursday, the governor of Norway's central bank, Oeystein Olsen said, "<span>The fall in oil prices will reduce Norway's national wealth" and that <span>"...increased spending is not a viable path to follow."</span></span></span></span></p><p><span><span><strong><a href="http://www.reuters.com/article/venezuela-economy-idUSL2N15X0U0">Venezuela released its 2015 GDP and inflation data</a>. </strong>The Central Bank of Venezuela says the Venezuelan economy contracted 5.7% in 2015, and that inflation hit 180.9%. The release comes just a day after the government announced a 6,200% increase in the price of gasoline. </span></span></p><p><strong><a href="http://www.businessinsider.com/nordstrom-earnings-and-outlook-q4-2016-2">Nordstrom gave an ugly outlook</a>. </strong>The retailer announced adjusted earnings of $1.17 per share, missing the $1.21 that was expected. Revenue climbed 5.2% to $4.19 billion, a bit shy of the $4.21 billion that was anticipated by the Bloomberg consensus. However, the worst part of the report was the company's full year EPS forecast <span>of between $3.10 and $3.35, which was well short of the $3.55 that analysts were hoping for. Shares of Nordstrom were down more than 7% in after-hours trade.</span></p><p><strong><a href="http://www.businessinsider.com/michael-corbat-2015-compensation-2016-2">Citigroup's CEO got a big raise</a>.</strong> Michael Corbat, Citigroup's chief executive officer, received a 27% raise for his work in 2015. The $16.5 million pay package was broken down into $9 million of stock compensation, $6 million in cash and $1.5 million in salary. Corbat received a 10% pay cut in 2014.</p><p><strong><a href="http://www.businessinsider.com/r-chinese-online-insurer-zhong-an-plans-2-billion-mainland-ipo-in-2016-ifr-2016-2?IR=T">The largest tech IPO in Chinese history is on the way</a>. </strong>People close to the deal told Reuters, online Chinese insurer Zhong An is planning a $2 billion initial public offering. The IPO would be the largest on the mainland since Guotai Junan Securities raised $4.8 in June. Last year, Zhong An raised $931 million in a deal that valued the company at $8 billion.</p><p><strong>Stocks everywhere are lower.</strong> Japan's Nikkei (-1.4%) paced the decline in Asia and Spain's IBEX (-1.4%) leads the losses in Europe. S&amp;P 500 futures are lower by 9.00 points at 1907.50.</p><p><strong>Earnings reports flow ahead of the opening bell. </strong>Ameren, Deere, Fannie Mae, and VF Corp. are among the names releasing their quarterly reports before markets open.</p><p><strong>US economic data is light. </strong>CPI will be released at 8:30 a.m. ET. The US 10-year yield is down 2 basis points at 1.72%.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/cam-newton-carolina-panthers-press-conference-nfl-denver-broncos-super-bowl-2016-2"> Here's the question that prompted Cam Newton to storm out of his postgame press conference</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="VoZG5yMDE6VHP_GWa6so3qlVcSAMa9_y" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

10 things you need to know before the opening bell

<p><em>This story was originally sent to thousands of professionals just like you in this morning's IoT WEEKENDER newsletter.  Don't be left in the dark while your competition gets ahead each morning. <strong><a href="http://www.businessinsider.com/intelligence/insider-newsletter?&amp;utm_source=House&amp;utm_term=CtgrPr_IOTI-weekender-2015-6-20&amp;utm_campaign=CtgrPr_nlsa">Learn more about our 7-day FREE trial now </a><a href="http://www.businessinsider.com/intelligence/insider-newsletter?&amp;utm_source=House&amp;utm_term=CtgrPr_MI-mobile-news-2015-6-17&amp;utm_campaign=CtgrPr_nlsa">»</a></strong></em></p><p><strong><div class="KonaFilter image-container display-table float_right"><div><div class="image"></div></div></div>FITBIT'S IPO A BIG SUCCESS:</strong> On Wednesday night FitBit announced its official IPO price of $20 per share. The IPO raised $732 million for the wearables maker, valuing FitBit at $4.1 billion.<strong> </strong>The stock then opened Thursday morning at $30.40 per share, raising that valuation to $6.3 billion. The stock closed Thursday trading at $29.68 per share, a 48% increase from its IPO price.</p><p>The company's initial IPO terms said shares would be priced between $14-$16 per share, but those terms were updated earlier this week, raising the price to between $17-$19 per share. The updated terms also increased the number of shares it would offer from 29.9 million to 34.5 million in response to high demand from investors.</p><p>FitBit is the clear leader in the global wearables market right now, according to a recent <a href="http://www.idc.com/getdoc.jsp?containerId=prUS25658315&amp;utm_source=Triggermail&amp;utm_medium=email&amp;utm_term=BII%20List%20Mobile%20ALL&amp;utm_campaign=Post%20Blast%20%28research%29%3A%20The%20wearables%20market%20before%20Apple%20Watch%20%E2%80%94%20Apple%27s%20connected%20home%20makes%20its%20way%20to%20consumers%20%E2%80%94%20Magic%20Leap%20to%20become%20less%20mysterious">report</a> from the IDC. FitBit shipped 3.9 million devices in Q1 2015, more than 1 million more shipments than any of its competitors. The company sold more than 10 million devices last year, more than doubling the number it sold in 2013.</p><p><strong>FitBit has also been hit with two lawsuits in the last month from rival wearables maker Jawbone</strong>. Jawbone claims that FitBit systematically sole confidential information by hiring away Jawbone's employees. The increased IPO terms indicate that investors aren't too worried about the lawsuits.</p><p><strong><em>Finding this article interesting? Thousands of professionals just like you had it in their inbox first. Stay ahead of the curve and gain a comprehensive understanding of the latest news &amp; trends, start your day with the IoT</em></strong><strong><em> INSIDER. <a href="http://www.businessinsider.com/intelligence/insider-newsletter?&amp;utm_source=House&amp;utm_term=CtgrPr_IOTI-weekender-2015-6-20&amp;utm_campaign=CtgrPr_nlsa"> Get 7-days FREE » </a></em></strong></p><p><strong><div class="KonaFilter image-container display-table zoomin"><div><div class="image"><a href="https://static-ssl.businessinsider.com/image/5429660f6bb3f7b92836fb01-960/connectedhomedevicecategories-1.png"></a></div></div></div>NEST CAMERA LAUNCHES: </strong>Nest announced the launch of the Nest Cam, the first new product the smart thermostat company has launched since it was acquired by Google. The Nest Cam is the result of another Google acquisition: its $555 million purchase last year of Dropcam. The new camera is an updated version of Dropcam's, with improved resolution and night vision, and can be placed around the home for security monitoring. The camera will start shipping next week and will be priced at $199.</p><p>Along with the new camera, Nest also announced a partnership with home insurers Liberty Mutual and American Family to give customers who own Nest products up to a 5% discount on their premiums. Nest also announced a new app that will allow Nest products to work together. For instance, if the Nest smoke alarm senses a problem, it can tell the Nest thermostat to turn off the heating system in case of carbon monoxide. Nest will be pushing software updates to its smart thermostats and smoke alarms for that integration. Nest's smart thermostat and security camera give it a foothold in the two smart home product categories we think will grow the fastest: smart home energy and smart home security.</p><p><strong style="line-height: 1.5em;">SMART METERS HELP CALIFORNIA ENFORCE WATER USE RESTRICTIONS DURING DROUGHT: </strong>Some California utilities are starting to roll out smart water meters to help enforce restrictions the state enacted in response to its extreme drought, WIRED <a href="http://www.wired.com/2015/06/smart-water-meters-let-cities-spot-drought-defiers/">reported</a> yesterday. The new restrictions limit the days and times that businesses and residents can water their lawns. Traditional water meters can't tell what time a business or home is using water for such purposes; they just tally up how much water is used each month. So local water utilities have been installing smart water meters at homes and businesses that have been reported for violating the restrictions. The smart meters can report water usage in near real time, allowing utilities to catch violators and fine them.</p><p>The article demonstrates some of the barriers that utility companies face in deploying smart water meters. Utilities usually deploy smart electricity meters to save money from sending employees to perform house calls, but the cost of smart water meters is sometimes too high to justify that savings, according to the report.</p><p>Utility companies also don't have the IT infrastructure (such as data centers or networking infrastructure) in place to support tens or hundreds of thousands of connected smart meters.</p><p>This is forcing smart meter providers to build those resources themselves, according to the WIRED article. For instance, smart meter provider T2, which is piloting smart water meters with authorities in Long Beach, California, uses Verizon's cellular network to circumvent the need for network infrastructure to connect meters. Their meters are also battery-powered, saving the utility the cost of providing electricity for them. And the Long Beach water department didn't need to purchase servers to support the smart meters since T2's solution is hosted in Microsoft's Azure Cloud.</p><p>BI Intelligence estimates that global smart meter installations will grow from 59 million this year to 134 million in 2020, but we expect smart electricity meters to make up the bulk of those installations. However, extreme weather conditions like California is experiencing, and continued water crises in developing countries like India, could spur municipalities to install smart water meters in greater numbers.</p><p><strong style="line-height: 1.5em;"><strong><div class="KonaFilter image-container display-table zoomin"><div><div class="image"><a href="https://static-ssl.businessinsider.com/image/5524320b6bb3f7652cfc827d-960/bii%20estimated%20number%20of%20smart%20meter%20installations%202015%204%207.png"></a></div></div></div></strong>GOGORO SETS PRICING AND LAUNCH DATE FOR ITS SMART ELECTRIC SCOOTERS: </strong>Connected cars are getting a great deal of attention right now, as they offer the chance to transform transportation in Western countries where cars and trucks dominate road traffic. In Asia's dense mega-cities though, it's gas-powered scooters, not cars, that rule the road. Taiwan-based Gogoro is trying to connect those vehicles while also driving down energy consumption in those heavily polluted megalopolises with its electric Smartscooter. Gogoro <a href="http://www.theverge.com/2015/6/17/8795087/gogoro-pricing-preorder-taipei">announced</a> yesterday that it would start taking orders on for its Smartscooters - priced at $4,100 - in Taiwan later this month.</p><p>Gogoro's scooters include 30 sensors that send diagnostic information to owners' smartphones via Gogoro's app and are powered by two 20-pound batteries. When the batteries run low, they can be swapped out at Gogoro's smart recharging stations for fully charged batteries. Gogoro plans to place networks of its charging stations throughout cities in Asia. It already has 32 in Taipei, Taiwan's capital city, as part of the pilot it's running there. It plans to increase that number to 150 by the end of the year. The Smartscooter can travel 62 miles at 60mph on a pair of fully charged batteries.</p><p>Gogoro will need the infrastructure of battery-swap stations in place to expand to new cities. The Smartscooter is also more expensive than gas-powered alternatives, but the company says that over the first two years of ownership the electric Smartscooter costs less than some gas-powered models. Replacing the millions of gas-powered scooters on the streets of Asia's biggest cities with electric ones would help alleviate the air pollution problems in many of those cities.</p><p><strong>TESLA PARTNERS WITH LEADING BATTERY TECH RESEARCHER: </strong>Tesla might have drawn closer to its goal of replacing carbon fossil fuels with lithium ion battery cells this week. The company <a href="http://fortune.com/2015/06/17/meet-teslas-new-weapon-a-battery-scientist/">signed</a> an exclusive agreement with Jeff Dahn, a professor at Dalhousie University in Nova Scotia and one of the world's top lithium ion technology researchers, to apply his research to Tesla's batteries. In exchange Tesla will provide financial support for Dahn and his team of 20 researchers. The partnership will start in June 2016, after Dahn wraps up another project he is working on.</p><p>Dahn will aim to improve Tesla's lithium ion batteries in multiple ways, such as lowering costs to make Tesla products more affordable for consumers, increasing the amount of energy each battery can store, and increasing the lifetime of lithium ion battery cells.</p><p>Those last two objectives are particularly problematic. The easiest way to increase the amount of energy that can be stored in a lithium ion battery is to charge it to a higher voltage. But that decreases the battery's lifetime. If Dahn can find a way to increase the energy a battery can store without decreasing its lifetime, it would make Tesla's battery storage solutions more cost-effective for large-scale applications in energy grids and enterprises. </p><p><strong><div class="KonaFilter image-container display-table zoomin"><div><div class="image"><a href="https://static-ssl.businessinsider.com/image/545cea1c6bb3f7cd575e46f0-960/iot%20enterprise%20investments%20by%20industry.png"></a></div></div></div>EXAMINING CLAIMS OF AN IoT BUBBLE: </strong>Apple cofounder Steve Wozniak made headlines recently warning investors that he thinks the Internet of Things market is in a bubble phase. The number of startups and solutions in the IoT market is growing fast, but it will take time for consumers to adapt to and trust some IoT technologies, such as self-driving cars, Wozniak explained. However, his claims of a full-blown IoT market bubble are overblown, according to a recent <a href="http://www.usatoday.com/story/money/business/2015/06/12/internet-of-things-bubble-steve-wozniak-the-motley-fool/71120522/">analysis</a> from The Motley Fool.</p><p>The price-to-sales ratios of three IoT companies - Sierra Wireless, Skyworks Solutions, and Invensense - are nowhere near as high as the ratios of internet companies before the dotcom bubble of the late 90's and early 2000's, the article pointed out. Price-to-sales ratios compare a company's stock price to its actual revenues, giving investors a sense of how the market views a company compared to its actual performance. The price-to-sales ratios of the three IoT companies over the last five years were a fraction of the ratios that companies like Cisco and Microsoft had during the dotcom bubble, according to the article. </p><p>The article also pointed out the error in talking about an IoT market bubble. The IoT market covers a vast array of industries and segments including healthcare, manufacturing, and defense, as well as consumer home appliances, cars, and wearables. Some of those markets will develop faster than others. So there may be IoT market bubbles in certain industries, but other industries will likely pick up the slack for IoT adoption.</p><p>Don't miss another day of breaking developments! Stay ahead of the curve and gain insight into the latest news &amp; trends. Join thousands of other professionals who start the day with IoT INSIDER. <strong><a href="http://www.businessinsider.com/intelligence/insider-newsletter?&amp;utm_source=House&amp;utm_term=CtgrPr_IOTI-weekender-2015-6-20&amp;utm_campaign=CtgrPr_nlsa">Try it FREE for 7 days now »</a> </strong></p>

Here's what happened in Internet of Things this week

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>India based mobile ad network InMobi has dismissed reports that <a href="http://uk.businessinsider.com/r-google-in-initial-talks-to-buy-indian-startup-inmobi-source--2015-3">Google is lining up a $1 billion bid to acquire the company.</a></p><p>In an email sent to employees, <a href="http://timesofindia.indiatimes.com/tech/tech-news/InMobi-is-not-for-sale-CEO/articleshow/46534144.cms?">reported by The Times of India</a>, InMobi CEO Naveen Tewari said he wanted the company to stay independent.</p><p>It read: "We are building an amazing company and the market space is very huge. Given the level of innovation and disruption we are about to cause, there is no reason to sell."</p><p>The email ended with the line: "If you like the fact that we are not selling, let me hear a big round of applause from the floor."</p><p>The office erupted into applause, The Times of India reports. </p><p>Business Insider has contacted InMobi for comment.</p><p>Sources with direct knowledge of the situation had told Business Insider on Wednesday that the deal was off the cards too (although they did confirm that talks had taken place). But the rumored acquisition was the talk of the ad industry earlier this week. We caught up with a bunch of ad tech executives to get their thoughts on the situation.</p><p><span style="line-height: 1.5em;">InMobi is the largest independent mobile <keyword id="35666" type="COMPANY" weightage="100" keywordseo="advertising">advertising</keyword> player outside of Google and Facebook. The company has more than 900 employees and <a href="http://www.businessinsider.com/hottest-pre-ipo-adtech-startups-2014-3?op=1">Business Insider has previously estimated its revenues at $372 million.</a> The company turned profitable in the fourth quarter,<a href="http://bits.blogs.nytimes.com/2015/03/11/inmobi-plans-to-stay-independent-dismissing-rumors-of-talks-with-google/?_r=0"> according to The New York Times</a>. InMobi claims, in a press release sent to Business Insider last year, that its network reaches 872 million active users, spanning over 200 countries.</span></p><p><span style="line-height: 1.5em;">Of all the adtech executives we spoke to about the potential deal, the intention from Google was clear: It wants to make a land grab in the mobile space, having lost ground since its $750 million AdMob acquisition in 2009.</span></p><p><span style="line-height: 1.5em;">Ario Paparo, CEO of adtech startup Beeswax, told us: "I think there are a couple of factors at work. First, after a very fast start in mobile ads with the AdMob acquisition, Google has lagged significantly behind Facebook and Twitter's MoPub unit of late in attracting developers to AdSense and AdX as their monetization vehicles. Mobile developers are choosing various other SDKs to include in their apps and it takes quite a bit of effort to stay on top."</span></p><h3><span style="line-height: 1.5em;">A Google acquisition of InMobi "is not perfect"</span></h3><p><span style="line-height: 1.5em;"><div class="KonaFilter image-container display-table float_left"><div><div class="image on-image"></div><p></p></div></div>Marco Bertozzi, president for global clients at Publicis Groupe's adtech arm Vivaki concurred. InMobi would give Google a chance to scale up  - particularly in regions such as India and Asia where InMobi is strongest - providing advertisers with more reach and data.</span></p><p><span style="line-height: 1.5em;">He added: "My personal opinion is Google wants to jump forward as fast as it can and regain some ground, although not perfect, it will achieve some of those objectives quickly. It is a scale play, Google knows that sometimes this kind of purchase is needed, the idea of building and creating a network is pretty labor intensive as well."</span></p><p><span style="line-height: 1.5em;">The fact that the InMobi purchase "is not perfect" in terms of answering Google's mobile advertising scale challenge was repeated among the adtech execs we spoke to. While everyone we spoke to agreed Google needs to make this kind of acquisition, many found it difficult answering the question: Why InMobi?</span></p><p><span style="line-height: 1.5em;">One senior agency source who asked not to be named questioned why Google would look to buy a company of 900 people, mostly sellers and engineers, when Google has plenty of talented sellers and engineers itself - arguably the best in the business. </span></p><p><span style="line-height: 1.5em;">He also questioned whether InMobi has enough bespoke, patented technology to make a $1 billion deal worthwhile, although he concluded that the appeal may be in the relationships the ad network has with partners and telecoms operators in India - the next burgeoning market for smartphone growth. </span></p><h3><span style="line-height: 1.5em;">"It will be interesting to see what the FTC has to say about this land grab"</span></h3><p><span style="line-height: 1.5em;">An InMobi acquisition would also be a regulatory challenge for Google, according to ChoiceStream's VP of marketing Bill Guild.</span></p><p><span style="line-height: 1.5em;">He told us: "Unlike the acquisition of AdMob which brought Google squarely into the mobile space, this seems like a simple land grab. Based on the scrutiny that the FTC paid to AdMob and the fact that Google today is a much bigger force in the mobile space than it was then, it will be interesting to see what the FTC has to say about this land grab.  Even though InMobi doesn't bring new technology or expertise to Google, the price might be worth it to gain a dominant position in world-wide mobile advertising."</span></p><p><span style="line-height: 1.5em;"><span style="line-height: 1.5em;">With a Google acquisition off the table, InMobi is staying independent for now. Tewari has long-hinted that the company is preparing for an IPO, although that may be some time away as the company has struggled to raise interest from investors beyond Japanese internet company SoftBank. </span><a href="http://www.nextbigwhat.com/softbank-write-down-inmobi-investment-297/">And in 2014, SoftBank wrote down all or a major part of its 2011 $200 million investment in InMobi,</a><span style="line-height: 1.5em;"> according to Next Big What, which did not uncover a reason for the writedown but suggested it could be related to taxation.</span></span></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/police-car-chase-weed-toss-marijuana-pot-arizona-2015-3">Incredible dash-cam video of a car chase shows suspects tossing bales of weed out the window</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="xvZnJ2czo4we8mdgZESZ2DxeaFMmxz9w" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

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