Here’s what you need to know today in startup and venture news, updated by the Crunchbase News staff throughout the day to keep you in the know.
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MTG Buys PlaySimple
Swedish gaming and entertainment company Modern Times Group (MTG) announced that it is acquiring PlaySimple, an India-based developer of word games, for $360 million up front and up to $150 million in performance-based milestone payments.
The acquisition comes after PlaySimple grew its revenues by 144 percent in 2020, with annual revenue totaling $83 million.
India’s Licious Lands $192M
Founded in 2015, Licious previously raised at least $158 million in known funding, per Crunchbase data. The company markets itself as a purveyor of high quality products, which it sells across multiple major Indian metro areas.
Korea’s Kakao Pay files for IPO: Kakao Pay, South Korea’s largest online payment service, filed to go public in an offering that could raise up to $1.4 billion. The company, backed by Ant Group, is seeking to go public on Korea’s KOSPI exchange.
— Joanna Glasner
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