Kofluence Secures Strategic Investment from Nazara Technologies for Influencer-Driven Game Discovery Platform
Kofluence, the leading Social Media Influencer Marketing-Tech platform in India, is excited to announce a pivotal development in its growth trajectory as the board of Nazara Technologies Limited (BSE: 543280, NSE: NAZARA) has officially sanctioned the acquisition of a 10.77% stake in Kofluence.
As part of the share swap transaction, Nazara Technologies will issue 3,71,637 Equity Shares at a price of Rs. 872.15/- per Equity Share, amounting to Rs. 32,41,23,210 through a preferential issue on a private placement basis to the Sellers.
Kofluence has established itself as India’s premier Social Media Influencer led Marketing-Tech platform, boasting a vibrant community of across platforms such as Instagram, YouTube, Facebook, LinkedIn, and Twitter. The platform represents over 20 languages and operates as a Full Stack Marketing platform, delivering performance metrics across the entire customer journey.
The collaboration between Kofluence and Nazara Technologies is geared towards the launch of an influencer-driven game discovery platform and community. This pioneering initiative aims to leverage the vast network of influencers on Kofluence to promote Nazara’s games across various social media platforms. Influencers, with their ability to tailor content to their audience’s preferences, will generate excitement around new releases, boosting downloads and increasing visibility for Nazara’s gaming portfolio.
Nitish Mittersain, Jt. MD & CEO of Nazara Technologies, expressed his enthusiasm, saying, “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, expressed his excitement about the collaboration, stating, “Nazara’s investment is a powerful validation of our joint mission to revolutionise the gaming industry. With our extensive network of 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.”
Ritesh Ujjwal, Co-founder of Kofluence, emphasised, “This strategic collaboration marks a pivotal moment in Kofluence’s journey. The gaming industry is swiftly asserting dominance in the handheld technology entertainment business sector, displaying relentless momentum. Moreover, with the surge of gaming influencers, brands have a unique opportunity to forge partnerships and connect with their dedicated followers. We are enthusiastic about the limitless possibilities that unfold as we seamlessly integrate influencer marketing and gaming innovation with Nazara Technologies.
About Kofluence
Kofluence is the largest AI-driven ad-tech influencer marketing platform in India, founded by Sreeram Reddy Vanga and Ritesh Ujjwal. The platform revolutionises the Ad-tech industry with the power of its proprietary AI & ML led platform that enables brands and influencers to unlock value from their social influence. Kofluence offers a technology-driven connective marketplace where brands and social users can discover and be discovered by one another, handpick who they wish to work with, and at transparent pricing with no hidden charges. Kofluence also offers a unique feature-rich Brands App and Creators App that enables easy collaboration and end-to-end campaign management.
