Affle to acquire strategic stake in Bobble AI – medianews4u
Mumbai: Affle (India) Limited (“Affle” or the “Company”), today announced the signing of definitive agreements to acquire 8.0% ownership in Talent Unlimited Online Services Private Limited (“Bobble AI”), India. The Company also has an option to acquire incremental ownership on attainment of certain key performance targets within the next 3 years. Affle has secured exclusive global ad monetization rights of tech products of Bobble AI for 5 years. Bobble AI is the Conversation Media Platform offering indigenous social keyboard with 10+ patents filed and significant investments from Xiaomi and SAIF Partners.
Bobble AI’s flagship offering – “Bobble Indic Keyboard” includes speech-to-text capabilities and is accessible in approximately 100 international languages including 23 Indian languages. It lets users personalise their communication while offering AI-based contextual recommendations and expressive endorsements with branded stickers and emojis. Bobble AI has partnered with Xiaomi to pre-embed its custom made “Mint Keyboard” as a default keyboard across multiple Xiaomi devices in India. Bobble AI has leveraged its strengths in both Indian and International languages and is partnering with multiple Original Equipment Manufacturers (OEMs), Mobile Network Operators (MNOs) and financial services companies as distribution partners adding significantly to their customer engagement.
Commenting on this development, Anuj Khanna Sohum, the Chairman, MD and CEO at Affle said “We are excited to announce our strategic investment in Bobble AI. A keyboard is the core of a user’s smart device experience and is one of the most used apps daily. We believe Bobble AI complements our vernacular strategy and significantly strengthens our partnership with OEMs where this keyboard is a default/pre-installed app. We remain committed to Affle2.0 growth strategy leveraging upon strategic consolidation opportunities to augment our market leadership position globally. We also continue to be a strong enabling platform for the indigenous apps ecosystem in India.”
Talking about it, Ankit Prasad, the founder and CEO of Bobble AI commented “We are elated to have found partners in Affle as we enter into the next phase of growth and monetization. Affle’s investment reinforces our vision to build world’s largest Conversation Media Platform. Affle’s strong market position, differentiated business model and our deep AI-driven tech is setting us together on a long-term growth trajectory. As a founding team, me and Rahul would like to thank our team, users and partners for their continued support, and looking forward to exciting days ahead.”
Existing investor of Bobble AI, SAIF Partners noted “Bobble AI has grown rapidly in the past couple of years driven by Ankit and Rahul’s leadership and focus on execution. We welcome Affle’s strategic investment into the company, which will further strengthen Bobble’s market position and create a leading and unique engagement model for both users and partners. We look forward to a strong growth path for Bobble AI.”