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Internet browser provider Opera today said that it has completed a strategic investment in StarMaker Inc., a technology-driven social media company focused on music and entertainment.
Opera has invested $30 million at a $125 million pre-money valuation by purchasing preferred shares issued by StarMaker, resulting in an ownership stake of 19.35 percent and as part of the investment, Opera also obtained an option to increase its ownership to 51 percent in the second half 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.
Jacoben said, "StarMaker complements our existing content platform Opera News, and we look forward to taking part in the company's journey of both continued 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 accelerate growth and to capture shared opportunities.
Following this investment, Yahui Zhou, chairman of Opera's Board of Directors and its CEO, will continue to hold 65.78 percent of the outstanding equity interests in StarMaker.
Meanwhile, Opera has come up with another update in which it allows people to choose whether they want to see those dialogs or not.
The daily browsing of people using the feature will become cleaner and neater, allowing them to focus on the content they are interested. When enabled by the user, the cookie alert blocker will hide dialogs, but will not block websites from setting any cookies. To control cookie behavior, the Opera browser has a dedicated setting, that allows users to choose between accepting all or none cookies or blocking third-party cookies.