Nazara Technologies Announces 10.77% Stake in Influencer Platform Kofluence
Nazara Technologies Limited, an India-based diversified gaming and sports media platform, announced that its board has approved a share swap with certain existing Kofluence investors to acquire a 10.77% stake in Kofluence Tech Private Limited. It is anticipated that the acquisition of stakes will aid Nazara in creating a platform for influencer-led game discovery.
Acquisition of a Minority Interest in Influencer MarTech Platform Kofluence
Nazara Technologies is proposing to issue 3,71,637 shares at a price of INR 872.15/- per equity share, aggregating to INR 32.41 crore, as a preferential issue on a private placement basis to the seller in connection with the share swap transaction.
What does Kofluence do?
Kofluence is the top marketing-tech platform for social media influencers in India. It boasts over 600,000 registered creators across 20+ languages on Instagram, YouTube, Facebook, LinkedIn, and Twitter. Kofluence is a full-stack marketing platform that focuses on generating awareness, interest, desire, and action to meet performance metrics. Kofluence has assisted brands in leveraging social media creators to create value, having worked with more than 500 prestigious clients in 20+ sectors.
Influencer-led Social Game Discovery Platform
Nazara Technologies and Kofluence plan to launch an influencer-driven game discovery platform. Influencer marketing will be employed in this project to advertise Nazara’s games across multiple social media channels. Influencers can customize their content to the tastes of their followers, generating excitement about new releases and encouraging downloads. This strategy helps Nazara break into a variety of market niches by increasing the visibility of its games, enabling targeted marketing, and providing direct performance feedback.
Here’s what they said
Nitish Mittersain, Jt. MD & CEO of Nazara Technologies said,
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. Our goal is to create an environment where gaming collaborates with the creativity of influencers, enriching the gaming experience for a global audience. Our new game publishing initiative ‘Nazara Publishing’ will particularly benefit from this new initiative”
Sreeram Reddy Vanga, Co-founder, and CEO of Kofluence stated,
Nazara’s investment is a powerful validation of our joint mission to revolutionize the gaming industry. 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.
- Netra is a Dual Masters graduate in International Business and Marketing. She is a content-writing enthusiast and a social media addict. In her downtime, you will find her headbanging to Pop songs from around the world. She is also a sports fanatic and especially loves F1, Volleyball, and Cricket. Her hobbies are baking and watching Anime.
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