Nazara acquires 51 percent stake in edutainment studio Paper Boat Apps
By Akshay Kedari  Date: 2019-10-18

Nazara acquires 51 percent stake in edutainment studio Paper Boat Apps

Global edutainment industry is set to witness one of the most exponential growth spurts among various technology sectors in the forthcoming years. The industry is thus experiencing a series of developments, acquisitions and collaborations among market players to stake a bigger claim in the business vertical.

One instance of this trend was observed when Nazara Technologies Ltd., a Mumbai based mobile content platform provider, game publisher and digital sports media firm, reportedly announced that it acquired 51 percent stake in Paper Boat Apps, an edutainment studio based in Mumbai.

Nazara invested a total of INR 83.5 crore in Paper Boat Apps. The gaming firm also stated that the pre-valuation of startup stood at INR 154 crore.

Paper Boat Apps builds and offers Kiddopia, an edutainment app that is subscription-based and offers numerous interactive activities and games that help in the cognitive development, social-emotional and self-expression learning of a child. The company has more than 100,000 active subscribers in the United States.

Nazara Technologies has more than 20 million active kids playing games developed by the company on App Store and Google Play on a monthly basis.

CEO and Co-Founder at Paper Boat Apps Pvt. Ltd., Anupam Dhanuka stated that this investment would help the company to grow its team, strengthen its market share across the United States and further foray into other high value markets like Japan, Latin America and Europe.

Nitish Mittersain, MD and Founder of Nazara Technologies, stated that the company would further help Kiddopia with its strong 100 million user-network.

Nitish added that Kiddopia provides a positive option while bringing curated, high-quality educational content packaged in an entertaining framework that keeps parents happy and kids healthy.

Nazara Technologies, backed by WestBridge Capital, has acquired numerous mobile gaming projects from across emerging markets of the world, which includes Latin America, West Asia and India. The company recently acquired stakes in NZWorld Kenya Ltd to establish real-money video gaming operations in Kenya.

Earlier in August, Nazara invested approximately INR 44 crore and acquired 67 percent stake in Sportskeeda, an all-sports media platform. The company also invested in Bakbuck, India’s first social contesting platform, and Halaplay Technologies, a fantasy sports startup, earlier in May and March respectively.

 

Source credit: https://www.livemint.com/companies/news/nazara-invests-rs-83-5-cr-in-india-s-largest-kids-subscription-company-paper-boat-apps-11571158994011.html

About Author

Akshay Kedari    

Akshay Kedari

A qualified computer engineering graduate, Akshay Kedari takes pride in having his way with words. Following his passion for content creation, he writes insightful pieces on aeresearch.net and a few other portals. Also endorsed with a short-term experience in web deve...

Read More

More News By Akshay Kedari

Alaskans to use tax credits to aid energy efficiency & air quality
Alaskans to use tax credits to aid energy efficiency & air quality
By Akshay Kedari

Local government authorities in Alaska have reportedly approved a bill that allows the creation and utilization of property tax credit to enhance air quality and energy efficiency. Sources cite that the Senate has accepted the bill with a 17-1 vote a...

Liteye gets $3M production order as part of US Defense Industrial Base
Liteye gets $3M production order as part of US Defense Industrial Base
By Akshay Kedari

Liteye Systems, a renowned leader in CUAS (Counter Unmanned Aerial Systems), has reportedly announced the receipt of an additional specialty production order for approximately $3 million. The contract would further make sure delivery of hardware for ...

Turning Point Brands offers free sanitizer bottles to combat COVID-19
Turning Point Brands offers free sanitizer bottles to combat COVID-19
By Akshay Kedari

From offering medical aids to donating funds, many companies worldwide have come forward to help governments and people to fight the spread of the novel coronavirus. Recently, Turning Point Brands, one of the leading tobacco product manufacturers in ...

Isracann enters JV agreement to develop cannabis production in Israel
Isracann enters JV agreement to develop cannabis production in Israel
By Akshay Kedari

Isracann Biosciences Inc. has recently entered a joint venture agreement for phased partnership of 2 near-term farm operations at the Sharon Plain region in Israel. This JV agreement will provide significant revenue generating opportunities to the Is...

Russia to track people at risk of COVID-19 through their geolocation
Russia to track people at risk of COVID-19 through their geolocation
By Akshay Kedari

Mikhail Mishustin, the Russian Prime Minister, recently gave the regional authorities 5 days for developing a system that can track citizens by using mobile phone geolocation data. The move is aimed at tracking people who have come into contact with ...