Glance to expand into US, launch NFTs
Lock screen platformis planning to launch in the US soon, and founder Naveen Tiwari says that the company is "6-9 months ahead in the growth curve."
It also plans to launch its subsidiaries, live commerce platform Roposo and gaming firm Gambit, in the US and other countries.
Speaking to the Economic Times, President of Glance Piyush Shah said, "US is a high ARPU (average revenue per user) market, but India is also high scale. From a revenue mix standpoint, I can hazard a guess that the US will be 30-35 percent of revenues."
At the moment, India makes up 90 percent of Glance's revenue, with Indonesia as its second-largest market.
Apple recently announced it too would be launching lock screen modifications for their iPhone users. However, Tiwari dismissed this competition by saying that Glance is focused on Android devices that make up 70 percent of the global smartphone market.
"Android is the leading OS (operating system) globally with close to 70 percent market share. In the US itself, Android has more than 45 percent market share; we have always targeted this substantial and highly lucrative market in the US," he told Economic Times. "We are backed by Google, which owns the Android ecosystem, and we will continue to march ahead.”
Glance became a unicorn in December 2020 after raising $145 million from Google and Mithril Capital. Earlier this year, it raised an additional $200 million from Reliance Industries.
The report added that Glance is also looking to launch NFTs and crypto tokens within the next six months. DailyHunt parent company Verse Innovation also recently announced its intention to move into the Web 3.0 space.