Krafton acquires 19.94% stake in Bobble AI for Rs 206 crore
Bobble AI has issued 2,375 preference shares at Rs 3,07,029 per share to raise Rs 72.9 crore from Krafton. Additionally, Krafton has acquired Affle's 12.39% in Bobble AI for Rs 133.2 crore
South Korean video game holding company Krafton has acquired a 19.94% stake in conversational media platform Bobble AI (Talent Unlimited Online Services Private Limited) for Rs 206 crore, as per media reports.
Bobble AI has issued 2,375 preference shares at Rs 3,07,029 per share to raise Rs 72.9 crore from Krafton. Additionally, Krafton has acquired Affle's 12.39% in Bobble AI for Rs 133.2 crore.
Affle has disclosed to the BSE that the South Korean company has bought 4,339 Series C CCPS in Bobble AI from the company. Affle also stated that its remaining shareholding in Bobble shall be 12.98% on a fully diluted basis after the close of this transaction and the fresh issuance of shares by Bobble to the buyer.
Founded in 2015, Bobble AI offers expressive and personalised content including stickers, GIFs, and emojis, deep localisation with over 100 languages, AI-based contextual recommendations, speech-to-text, and much more.
Bobble AI’s flagship product Bobble Indic Keyboard allows real-time content creation and personalisation through its leading-edge AI technology. The company's conversation media marketing service helps brands to become an authentic part of user conversation.
Krafton has committed investments worth $100 million toward the Indian market. It has backed companies like Nautilus Mobile, Pratilipi, Nodwin, Pocket FM, Kuku FM, Frnd, and Loco.
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