Other Private Equity/Strategic Investments
Nazara to acquire 10.8% in influencer mktg platform Kofluence for Rs.32-Cr
Publicly listed gaming firm Nazara Technologies is to acquire a 10.77% stake in Bengaluru-based influencer marketing platform Kofluence via share swap with existing investors Nazara would issue 3,71,637 equity shares at a price of INR 872.15 apiece aggregating to INR 32.41 crore.Kofluence has over 600,000 creators on Instagram, YouTube, Facebook, LinkedIn, and X (formerly Twitter). Founded in 2019 by Sreeram Reddy Vanga and Ritesh Ujjwal, the adtech platform caters to users across various relevant performance metrics.
In Feb-22, Kofluence had raised USD 4 million in funding led by discount brokerage Zerodha's co-founder Nikhil Kamath. Kunal Shah of Cred, filmmaker Karan Johar, Dharma Productions Apoorva Mehta, Udaan’s Sujeet Kumar, microblogging site Koo’s Aprameya Radhakrishna and venture capital fund Upsparks were among other investors who participated in the round.
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