Krafton invests $45 million in Indian web novel platform
Game developer Krafton made a $45 million investment in Indian web novel platform Pratilipi and aims to expand its influence in the Indian digital market in the future, the company said Wednesday.
Krafton led the investment alongside other investors such as venture capitalist Omidyar Network and other start-up founders. Pratilipi is India's largest web novel platform with over 30 million monthly active users and 370,000 active writers.
It services its content in 12 Indian languages and has recently begun preparations to expand its content portfolio to published books, animation and TV programs. It is also readying two other services, Pratilipi FM and Pratilipi Comics.
"It is exciting to see the growth of Indian local content in online literature, comics and audio platform in Pratilipi, which is already the largest player in India in multiple categories," said Sohn Hyun-il, head of corporate development at Krafton.
"With Pratilipi already having a multilingual platform for online literature, it is poised to become one of the strongest players in emerging markets in the future. Krafton believes in long-term potential of local Indian content that can be successful not just in India but globally as well across formats including literature, comics and gaming and our investment in Pratilipi is another step in realizing that vision."
Krafton released Battlegrounds Mobile India, a mobile version of its popular first-person shooting game PlayerUnknown's Battlegrounds, on July 2. The game surpassed 34 million users within a week of release.
BY YOON SO-YEON [firstname.lastname@example.org]