Nazara Tech to acquire stake in influencer platform Kofluence for Rs 32Cr; Know the details

Mumbai-based diversified gaming and sports media firm Nazara Technologies today said it will be acquiring a 10.77% stake in Kofluence Tech Private Limited. 

Nazara said the acquisition involves a share swap, where Nazara proposes to issue 3,71,637 Equity Shares at Rs. 872.15 per share, totalling Rs 32.41 crore.

What does Kofluence do?

Kofluence is recognized as India's leading Social Media Influencer led Marketing-Tech platform. It boasts over 600,000 registered creators across various social media platforms and caters to a wide range of performance metrics. So far, It has worked with over 500 marquee clients across diverse sectors.

Launching an influencer-driven game discovery platform

The partnership between Nazara Technologies and Kofluence is set to launch an influencer-driven game discovery platform. The platform will leverage influencers to promote Nazara's games, aiming to enhance game visibility, enable targeted marketing, and provide direct performance feedback.

Creating an environment for collaborations

Nitish Mittersain, Jt. MD & CEO of Nazara Technologies, "Kofluence is pioneering creator economy-led platforms, and Sreeram's extensive gaming experience is invaluable to create a pioneering influencer-led game discovery platform and community."

He said the company aims to create an environment where gaming collaborates with the creativity of influencers to enrich the gaming experience for a global audience. "Our new game publishing initiative ‘Nazara Publishing’ will particularly benefit from this new initiative," he said.

"With our extensive network of over 600,000 creators, we're well-positioned to greatly enhance the visibility and engagement of Nazara's gaming portfolio. This partnership is not only expanding Nazara's game reach but also reshaping game marketing dynamics, bringing every creator and user into an expansive and captivating gaming narrative," said Sreeram Reddy Vanga, Co-founder, and CEO of Kofluence.

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