France's YKONE buys marketing agency Barcode

France India city Mumbai markets CEO Entertainment WhatsApp

19.03.2024 - 19:55

Reading now: 122

economictimes.indiatimes.com:

influencer marketing agency YKONE has bought a controlling stake in Indian content and influencer marketing agency Barcode Entertainment to foray into the Indian market, top executives of both firms told ET.

YKONE has bought a 70% stake in the Mumbai-based Barcode for an estimated valuation of $18-20 million. The two companies refused to confirm the value of the transaction, which is one of the biggest in the fledgling influencer marketing industry, pegged at ₹1,200 crore.

YKONE has paid cash to acquire the 70% stake and intends to buy out the remaining 30% stake through an equity swap. Rahul Khanna, CEO of Barcode, will become a board member of YKONE.

Olivier Billon, founder and CEO of YKONE, said the company is eyeing a turnover of close to $100 million in 2024 due to the acquisition of Barcode.-Javed Farooqui

(You can now subscribe to our Economic Times WhatsApp channel)
Read more on economictimes.indiatimes.com

All news from economictimes.indiatimes.com

About this in other media

France's Macron tells Brazilian execs that prospective Mercosur-EU deal is 'terrible' and outdated abcnews.go.com /8 months ago

Macron Urges Brazilian Companies to ‘Believe More’ in France livemint.com /8 months ago

Is It Too Late to Buy Ondo? ONDO Price Hits Record High as SpongeV2 Eyes Major Exchange Listings cryptonews.com /8 months ago

The website fvbb.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.