How this couple's app idea turned into a ₹400cr deal
Anupam and Anshu Dhanuka, the husband-and-wife duo behind the popular children's learning app Kiddopia, are set for a windfall. Nazara Technologies has announced the acquisition of the remaining 48.42% stake in Paper Boat Apps Pvt. Ltd. (PBA)—the company that owns Kiddopia— from the Dhanukas for a whopping ₹300 crore. This acquisition gives Nazara complete ownership of PBA. The couple embarked on their entrepreneurial journey in 2012 after resigning from their jobs and have emerged as successful first-time entrepreneurs.
Nazara had purchased 51% stake in PBA in 2019
Kiddopia is a subscription-based learning app for children aged between 2 and 7. It focuses on gamified learning experiences to keep children engaged while they develop essential skills. Prior to this acquisition, Nazara had purchased a 51% stake in Kiddopia for ₹83.5 crore in 2019. So, in total, Dhanukas have made nearly ₹400 crore by selling Kiddopia. Now, with 100% ownership of the learning app, Nazara has strengthened its position in the rapidly growing edutainment market.
The birth of Kiddopia
As new parents in 2010, Anshu and Anupam were overwhelmed by conflicting advice on raising a child in the digital age. They wanted a nurturing environment that encouraged growth, learning, and self-expression for their child. However, existing learning apps fell short. They lacked engagement, were riddled with ads, or simply offered mindless games. This frustration became the seed for Kiddopia, which is currently the no. 1 grossing app across several major geographies and boasts over 18M downloads.
Dhanuka couple's journey with Kiddopia is an inspiring story
The Dhanuka couple's journey with Kiddopia is an inspiring story considering it was their maiden venture. Anupam, with a background in engineering and finance, previously worked at Morgan Stanley and Dolby. Anshu holds a BMS degree and has been dedicated to Kiddopia for the past 12 years. Their combined vision and hard work have transformed the app into a successful venture. Kiddopia's parent company PBA posted a consolidated revenue of ₹219.4 crore and an EBITDA of ₹56.1 crore in FY24.
