France's YKONE buys marketing agency Barcode

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19.03.2024 - 19:55

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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

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