Mobile advertising platform Globale Media has reported five times growth in 2020-21, a company statement said. The company had started its operations in 2017 in Singapore and India, and subsequently in UAE in 2019.

In a press release, the company said its growth was due to the fact that digital advertising spend in India was growing at a CAGR of 28.6 per cent and it is estimated that 45-55 per cent of the digital advertising budget is now spent on mobile advertising.

“India’s internet user base expanded significantly from 445 million users in 2017 to 730 million users in 2020,” it said.

Bhavesh Talreja, Founder and CEO of Globale Media said the company was able to quintuple its revenues as “the Covid-19 pandemic accelerated the digital transformation and advertisers were willing to spend more bucks on digital advertising, including mobile ads”.