Affle To Acquire Strategic Stake In Bobble AI, A Conversation Media Platform
Consumer intelligence platform Affle India, a global tech company recently announced that it plans to acquire 8.0% ownership in Bobble AI, a conversation media platform offering indigenous social keyboard with 10+ patents filed and significant investments from Xiaomi and SAIF Partners.
As a part of the deal, Affle has secured exclusive global ad monetization rights of tech products of Bobble AI for 5 years. The company also has an option to acquire incremental ownership on the attainment of certain key performance targets within the next 3 years.
Bobble Indic Keyboard, the flagship product by Bobble AI includes speech-to-text capabilities. It lets users personalise their communication while offering AI-based contextual recommendations and expressive endorsements with branded stickers and emojis.
“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,” said Anuj Khanna Sohum, the Chairman, MD, and CEO at Affle.
“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,” he added.
Commenting on the development, Ankit Prasad, the founder and CEO of Bobble AI said, “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 the 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.”