Mumbai, India, October 24,
2019- Nazara Technologies Ltd., a leading global interactive gaming and digital
sports media company announces their investment of Rs. 83.5 crores in Paper
Boat Apps, a Mumbai based indie studio today. The company acquires a majority
stake of 51% at a pre-money valuation of Rs. 154 crores. Paper Boat Apps is the
creator and publisher of Kiddopia, an award winning, subscription based
preschool edutainment app. This transaction is subject to shareholders approval
and customary closing conditions including any other regulatory approvals.
2019- Nazara Technologies Ltd., a leading global interactive gaming and digital
sports media company announces their investment of Rs. 83.5 crores in Paper
Boat Apps, a Mumbai based indie studio today. The company acquires a majority
stake of 51% at a pre-money valuation of Rs. 154 crores. Paper Boat Apps is the
creator and publisher of Kiddopia, an award winning, subscription based
preschool edutainment app. This transaction is subject to shareholders approval
and customary closing conditions including any other regulatory approvals.
Kiddopia offers a wide array
of interactive games and activities that foster cognitive development,
self-expression and also social-emotional learning. Till date the app has been
downloaded by more than 2.5 million parents around the world and has over 100,000
active subscribers. The company has grown 5x in the last 2 years and received
immense recognition, awards and fame. Kiddopia has been awarded the Tilly-Wig
Brain Child Award, Parents Choice Award, the National Parenting Product Award
and many more. Kiddopia is completely ad-free and adheres to the highest
standards of privacy and kid’s safety.
of interactive games and activities that foster cognitive development,
self-expression and also social-emotional learning. Till date the app has been
downloaded by more than 2.5 million parents around the world and has over 100,000
active subscribers. The company has grown 5x in the last 2 years and received
immense recognition, awards and fame. Kiddopia has been awarded the Tilly-Wig
Brain Child Award, Parents Choice Award, the National Parenting Product Award
and many more. Kiddopia is completely ad-free and adheres to the highest
standards of privacy and kid’s safety.
Nazara is the largest free to
play kids games publisher in India with over 20 million monthly active kids
playing Nazara’s games on Google Play and App store. Nazara has presence in 64
countries across Africa, Middle East and South East Asia in addition to the
Indian subcontinent. Nazara has taken license mobile gaming rights of the most
popular Indian IP characters like Chhota Bheem, Motu Patlu, Mighty Raju, Veer
the Robot, Eeena Mina Deeka, Shikari Shambhu and global IP’s like Oggy the
Cockroach, Shin Chan and many more.
play kids games publisher in India with over 20 million monthly active kids
playing Nazara’s games on Google Play and App store. Nazara has presence in 64
countries across Africa, Middle East and South East Asia in addition to the
Indian subcontinent. Nazara has taken license mobile gaming rights of the most
popular Indian IP characters like Chhota Bheem, Motu Patlu, Mighty Raju, Veer
the Robot, Eeena Mina Deeka, Shikari Shambhu and global IP’s like Oggy the
Cockroach, Shin Chan and many more.
According to Anupam Dhanuka,
Co-Founder & CEO, Paper Boat Apps Pvt. Ltd., “The leadership at the two
companies have very similar DNA and our goals are well aligned. This investment
will help us grow our team, strengthen our market share in the US and expand to
other high value markets such as Latin America, Europe and Japan. We also plan
to leverage Nazara’s existing network of users to quickly grow in India,
Southeast Asia and the Middle East.”
Co-Founder & CEO, Paper Boat Apps Pvt. Ltd., “The leadership at the two
companies have very similar DNA and our goals are well aligned. This investment
will help us grow our team, strengthen our market share in the US and expand to
other high value markets such as Latin America, Europe and Japan. We also plan
to leverage Nazara’s existing network of users to quickly grow in India,
Southeast Asia and the Middle East.”
Nitish Mittersain, Founder and
MD, Nazara Technologies Ltd. says “Kiddopia addresses the concern where young
children are found to consume digital content through their parent’s devices.
Kiddopia offers a positive alternative while bringing high quality, curated
educational content packaged within an entertaining framework that keeps both
kids healthy and parents happy. Kiddopia will be leveraged to over 100 million
users through the Nazara network”
MD, Nazara Technologies Ltd. says “Kiddopia addresses the concern where young
children are found to consume digital content through their parent’s devices.
Kiddopia offers a positive alternative while bringing high quality, curated
educational content packaged within an entertaining framework that keeps both
kids healthy and parents happy. Kiddopia will be leveraged to over 100 million
users through the Nazara network”
Paper Boat Apps was founded in
2013 by husband-wife duo, Anupam and Anshu Dhanuka as a boot-strapped startup
to create world class edutainment apps for preschool kids. In July 2017, Paper
Boat Apps launched their flagship app, Kiddopia. The app became an instant hit
and reached the #1 rank in the Kids category on the US App Store.
2013 by husband-wife duo, Anupam and Anshu Dhanuka as a boot-strapped startup
to create world class edutainment apps for preschool kids. In July 2017, Paper
Boat Apps launched their flagship app, Kiddopia. The app became an instant hit
and reached the #1 rank in the Kids category on the US App Store.
