Internet browser provider Opera today said in a statement that it had completed a strategic investment in StarMaker Inc., a technology-driven social media company focused on music and entertainment.
Opera said it has invested over $30 million at a $125 million pre-money valuation by purchasing preferred shares that was issued by StarMaker, resulting in an ownership stake of 19.35 per cent and as part of the investment, also Opera obtained an option to increase its ownership to over 51 per cent in the second quarter of the year 2020.
We are excited to invest in StarMaker, as they are one of the leading music-oriented social media platforms in emerging markets, ‘says Frode Jacobsen, CFO of Opera.
Jacobsen said, “StarMaker complements our existing content platform Opera News, and we look forward to taking part in the company’s journey of both uninterrupted product innovation and user growth.”
Furthermore, Opera’s strategic investment in StarMaker will lay the foundation for opportunities for the two companies to leverage each other’s strong brands and unique products to fast track growth and to capture shared opportunities.
Following this investment by Opera, Yahui Zhou, Chairman of Opera’s Board of Directors and its CEO, will continue to hold 65.78 per cent of the outstanding equity interests in StarMaker.
However, Opera has come up with another update in which it allows people to choose whether they want to see those dialogs or not.
This new feature will become cleaner and neater because of the daily browsing of users which will allow them to focus more on the content they are interested. When enabled by the user, the cookie alert blocker will hide the dialogs, but it will not block websites from setting any cookies. Also to control cookie behaviour, the Opera browser has a dedicated setting, which allows its users to choose between accepting all or none cookies and blocking third-party cookies.