Reliance Industries is eyeing to make an investment of about $ 250 million in an Indian mobile content provider named as Glance InMobi and the talks are already taking place for the same.

It’s also rumored that RIL is considering making investments of up to $ 300 million in the Google backed unicorn and chances are that these transactions could be complete within the next few weeks.

RIL is trying to generate 15-20 percent of the unicorn market, although talks with InMobi are still in the early stages.

Glance InMobi is a company that distributes selected news and entertainment content to phone lock screens as well as a short-video app. Reliance's investment could have both a financial and a strategic component. In reality, it might offer Mukesh Ambani's company access to content on the lock screen of its planned Google-Jio Smartphone, which is set to launch by the end of October.

RIL might benefit from a significant minority investment in Glance if it focuses on monetisation through the emerging phenomena of social commerce. It might give RIL access to valuable lock-screen real estate on the low-cost smartphones it's co-developing with Google and aiming to release in time for Diwali shopping season in late October. It will also provide Reliance a strategic foothold in the growing sector of short-form video entertainment.

As part of Reliance Chairman Mukesh Ambani's aspirations to develop a local technology colossus, Google agreed to invest $4.5 billion in a collaboration with Reliance last year, which included plans for a low-cost smartphone. The phone was supposed to be released earlier this month, but it was postponed owing to a global semiconductor shortage.

Glance InMobi was created in 2019 and has a daily active user base of around 130 million people. Roposo, the company's app, provides short videos in a dozen Indian languages. In June, the company, which is backed by Peter Thiel's Mithril Capital, agreed to buy e-commerce startup Shop101.

Glance purchased Shop101, a social commerce firm, in June to fuel its backend commerce and shipping operations.

Previously, Google made a $4.5 billion investment in RIL's Jio Platforms as part of a bigger plan to spend $10 billion in India over the next few years.

Reliance and Google are working together to produce a low-cost smartphone for India, which has been delayed by a few weeks due to a global scarcity of semiconductor chips.