StarMaker Receives $30M Strategic Investment from Opera

StarMakerStarMaker Inc., a San Francisco, CA-based technology-driven social media company focused on music and entertainment, reeived a $30M strategic investment from Opera Limited (Nasdaq: OPRA).

Opera, a browser provider and a player in the field of integrated AI-driven digital content discovery and recommendation platforms, has made the investment at a US$125m pre-money valuation by purchasing preferred shares issued by StarMaker, resulting in an ownership stake of 19.35%.
As part of the investment, Opera also obtained an option to increase its ownership to 51% in the second half of the year 2020.

StarMaker enables users to record and share their own music videos, collaborate with other musicians, connect with other users and follow their idols on the social platform.
The application is a free download from Google Play and the Apple App Store. The company has an engaged user base in emerging markets such as India, Indonesia and the Middle East.

Following this investment, Mr. Yahui Zhou, chairman of Opera’s Board of Directors and its CEO, will continue to hold 65.78% of the outstanding equity interests in StarMaker. Opera’s Board of Directors obtained a valuation analysis from an independent third-party investment bank prior to the approval of this transaction.



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