Web browser Supplier Opera Declared a strategic investment of $30 million (Approximately Rs. 219 crores) into Award-winning Audio and entertainment Firm – StarMaker – to accelerate growth and Research shared Chances for both the Businesses, an official Announcement said on Tuesday.
Having an engaged consumer base in India, Indonesia and the Middle East, StarMaker enables users capture and discuss their own music videos, letting them collaborate, join and follow different musicians and musicians on social networking platform.
Included in this bargain, Opera has gained an ownership stake of 19.35 percentage in StarMaker together with an choice to raise its ownership to 51% from the second half 2020, the business said in an announcement.
“StarMaker matches our current content stage’Opera News’ and we’re very eager to put money into the business,” said Frode Jacobsen, Chief Financial Officer, Opera.
Opera’s Board of Directors acquired a valuation evaluation from an independent third party investment bank before the approval of the transaction, the business added.