South Korean video gaming giant Krafton Inc has acquired a 19.94% stake in Delhi-based conversational media platform Bobble AI (Talent Unlimited Online Services Private Limited) for Rs 206 crore, according to the latest media reports.
According to a regulatory filing filed with the RoC, The Delhi-based social keyboard company has issued 2,375 preference shares at Rs 3,07,029 per share to raise Rs 72.9 crore or $9.2 million from Krafton. Apart from this, the South Korean outfit has also acquired 4,339 Series C CCPS from Affle for Rs 133 crore, which constitutes a 12.39% stake in Bobble, Affle has disclosed to the National Stock Exchange.
Krafton now boasts of a 19.94% stake in Bobble, with the funds set to be utilized for business expansion, vendor payments, and employee incentives. Bobble.ai, founded in 2015, offers its users multiple explicit and personalized content, including stickers, GIFs, and emojis, adhering to users in over 120 languages, AI-based contextual recommendations, speech-to-text, and much more.
It also has a facial recognition feature that translates real-time selfies into GIFs and stickers. Bobble’s app integrates with Facebook, Snapchat, and Whatsapp, enabling users to share their creations on these platforms.
Notably, Krafton has claimed that it has already invested $100 million in the Indian market with financial backings to companies including Nautilus Mobile, Pratilipi, Nodwin, Pocket FM, Kuku FM, dating app Frnd, and game streaming platform Loco.
Krafton inc suffered a major setback last month after the Indian govt banned (BGMI) and delisted it from the virtual stores of Apple and Google, leaving the entire gaming community disappointed. But according to several online sources, the global hit Battle Royale game is set to make a comeback later this year as the developers are exploring the idea of launching an exclusive server for gamers in India.
Based on the story, introducing the new server will lead to changes in maps, themes, characters, and skins. The overhaul will alter the dynamics of the popular game, which is likely to re-appear on various platforms by December 2022.