Paper Boat Apps is the developer and writer of well-liked youngsters’s digital gamified studying app ‘Kiddopia’ which is the #3 grossing app for kids between 2-8 years of age in the US of America.
Nazara can even take into account merging Paper Boat Apps into the corporate on the acceptable time to deliver residence one of many world’s hottest children gamified studying IP ‘Kiddopia’. This step will permit Nazara to profit from wholesome money flows that may be reinvested for natural in addition to inorganic progress.
In 2019, Nazara had acquired a 50.91 per cent stake in Paper Boat Apps.
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Paper Boat Apps posted a consolidated income of ₹219.4 crores and an EBITDA of ₹56.1 crores in FY24, with a web money stability of ₹155.74 crores as of March 2024.
“Nazara goals to execute a multi-pronged technique to drive progress and enlargement of the Kiddopia franchise via IP licensing and integration, international market enlargement, deeper synergies inside its community, and extra income streams together with merchandising, video, and promoting revenues, along with the present mannequin of subscription revenues,” stated a press assertion.
Nitish Mittersain, CEO and Joint Managing Director of Nazara Applied sciences, stated, “At Nazara, we consider an IP akin to Kiddopia has immense potential that may be unlocked via a number of new initiatives and buying full possession underscores our dedication to intensifying our efforts within the gamified studying sector.”
Anupam Dhanuka, Promoter of Paper Boat Apps, remarked, “It has been an unimaginable journey growing Kiddopia right into a beloved app for kids and fogeys worldwide.”
“Following the bulk acquisition by Nazara, Kiddopia has scaled tremendously, and we’re happy to see it discover a everlasting residence inside Nazara. We consider that Kiddopia has vital potential for future progress, and Nazara is well-positioned to raise it to the subsequent degree. We want Nazara and your complete Kiddopia workforce one of the best of luck of their future endeavours.”
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