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     aeresearch.net

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

Google Cloud Marketplace to host Unbxd product discovery solutions

Google Cloud Marketplace to host Unbxd product discovery solutions

By Akshay Kedari

Leading AI-powered e-commerce product discovery solution company Unbxd Inc. has announced its availability on Google Cloud Marketplace. Brands and retailers hosted on Google Cloud will now be able to leverage a unified billing approach, deeper produc...

Apple’s upcoming iPad Pro might come with wireless charging and MagSafe

Apple’s upcoming iPad Pro might come with wireless charging and MagSafe

By Akshay Kedari

The new iPad Pro model will have a glass back to accommodate wireless charging. Rumors have it that Apple is also exploring reverse wireless charging for iPads. According to reliable sources, Apple Inc. might include a wireless charging feature...

Top organizations unite for Covid-19 vaccination drive in rural America

Top organizations unite for Covid-19 vaccination drive in rural America

By Akshay Kedari

Reportedly, several organizations are joining forces to increase the usage of Covid-19 vaccines among people residing in rural areas across America. The first of its kind and allegedly the largest public vaccine education initiative in rural America...

Bee’ah, Chinook Sciences announce UAE’s first waste-to-hydrogen project

Bee’ah, Chinook Sciences announce UAE’s first waste-to-hydrogen project

By Akshay Kedari

Bee'ah, a company that focuses on sustainability and clean energy solutions in the Middle East, is planning to launch the first waste-to-hydrogen project in UAE by collaborating with Chinook Sciences, the U.K.- waste-to-energy services provider.&...

Samsung launches a 43-inch M7 smart monitor with a solar-powered remote

Samsung launches a 43-inch M7 smart monitor with a solar-powered remote

By Akshay Kedari

Samsung Electronics has reportedly launched a new 43-inch M7 smart monitor which is powered by the renowned Tizen operating system and can support ultra-high definition resolution. The recent development reflects on the South Korean tech giant's ...