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.
Read More: Nazara Technologies Partners with 4 Gaming Studios to Publish 5 Games
Kofluence Unveils Kofinity, An Assured Path to Brand Partnerships
Prominent AI-led platform, Kofluence, has debuted Kofinity, its newest offering. It serves as a forum for emerging artists to collaborate with businesses. Every content creator who uses the product has the chance to earn money from their social impact thanks to brand partnerships. According to Kofluence, with the introduction of Kofinity, creators can concentrate completely on producing content and increasing brand visibility. Additionally, it will give creators the tools to monetize their passion.
Kofluence has executed over 1600 campaigns effectively across 30 verticals. They also claim to have 550k collaborators on board and a reach of over 6 billion people. Without a doubt, Kofluence is the pioneer in influencer marketing tools.
Kofinity for Creators
Kofinity gives creators a chance to develop business relationships with brand partnerships and earn profit. Through the website ‘kofluence.com/in‘, which will act as the main interface for these deals, the product enables consumers to get a free, distinctive URL. By partnering with brands, creators may profit from every purchase made through their unique link. Through social and messaging channels, users can share offers and promotions from brands with their followers. ‘Always-on’ campaigns allow creators and businesses to collaborate. Additionally, the business guarantees earnings on any purchases made using the customized link.
Kofluence further states that top performers on Kofinity can make more than INR 25,000 every week. Guaranteed selection for collaborations with minimal content development and no prior content review comes along with that. Getting premium offers typically involves meeting eligibility requirements or considering costs. Kofinity, however, enables content producers to communicate these offers to their audience. They can therefore readily and freely use them without meeting any such requirements.
Here’s what they said
Speaking about the launch Ritesh Ujjwal, CEO and co-founder, Kofluence said,
We’re thrilled to introduce Kofinity! With this launch, we’re confident that Kofluence is well-positioned to lead the charge in this rapidly evolving industry. We aim to foster India’s thriving creators economy by monetizing 100k influencers in the next 12 months, enabling creators on their journey to becoming creator-preneurs.
Sreeram Reddy Vanga, co-founder of Kofluence, stated,
As excited as we are about the launch, what I’m looking forward to is Kofinity being a means of self-sufficiency for all the budding creators. Kofinity is expanding its horizons beyond social media like Instagram and Youtube. Now, creators can easily share their offers and deals within their social circles through multiple social networking platforms by using their unique link.
About Kofluence
Ritesh Ujjwal and Sreeram Reddy Vanga founded Kofluence, a leading AI-driven influencer marketing platform in India. The platform’s powerful proprietary AI & ML powered platform, which lets brands and influencers generate revenue from their social influence, revolutionizes the Ad-tech sector. The company has utilized its extensive category experience to service over 400 companies across 30 industries. With the help of technology, Kofluence offers a technology-driven interconnected network where businesses and social media users may find and be found by one another, choose the partners they want to collaborate with and do so at transparent prices with no additional fees. Additionally, Kofluence provides a distinctive, feature-rich Brands App and Creators App that makes collaboration simple and allows for end-to-end campaign management.
Read More: 10 Game-Changing AI Tools for Digital Marketing in 2023