After the acquisitions of miLibris and Blendle last year, this marks Cafeyn’s third investment and is an important milestone for the Group in its international expansion and content diversification strategy.
Cafeyn has over 2.5 million users, and the growth facilitated by this transaction will further cement its position, adding a further 1.5 million users from Kidjo's platform, says the company. This partnership will enable Cafeyn to diversify its content offering and accelerate its internationalisation ambitions, as Kidjo is already present in the US, Spain, Russia, Senegal, Ivory Coast, Tunisia, Morocco and France.
Cafeyn's strategy focuses on developing new formats and ways of consuming information (Smart reading, editorial selections and, more recently, celebrity collections), supporting access to topical news and entertaining content, and transforming the company from a digital kiosk to a multi-media press platform. The acquisition will also allow Cafeyn to expand its value proposition towards a more family-oriented audience and a younger demographic, whose parents already use its platform.
Founded in 2016 by Martin Poix, Kidjo initial development was founded by Otium Venture and several French Business Angels. Kidjo offers a wide range of content, including narrative stories and edu-tainment games, aimed at a young audience, from 2 to 7 years old. Today, Cafeyn's audience profile is mainly concentrated on users between 35 and 45 years old, predominantly young couples. Martin Poix will retain his position as CEO of Kidjo and directly report to Ari Assuied, Founder and CEO of Cafeyn.
Ari Assuied, President of the Cafeyn Group, commented: “At Cafeyn, we have a strong ambition to give everyone the opportunity to keep themselves informed and educated, by offering a unique experience and unlimited access to information. Kidjo's model shares the same values and entrepreneurial roots as Cafeyn's, offering diverse, quality content. The combination of our technological assets will allow us to be better equipped to provide outstanding service for our customers.”
Martin Poix, CEO of Kidjo, commented: “We are delighted to join forces with Cafeyn. This collaboration marks the start of an exciting new chapter in Kidjo’s history and brings both companies one step closer to achieving our common goal – becoming the European leader in news and content streaming. Multiple opportunities for the development of new features and content will arise from our partnership. In an era where content platforms must constantly reinvent themselves, this union will allow us to accelerate our growth, both in France and internationally, and provide the most attractive family offer on the market, with unparalleled access to quality content.”
Bruno Raillard, GM of Otium Capital, commented: “We have backed with lots of enthusiasm Kidjo based on the premise that Kidjo product would provide kids with a safe and high quality educational and fun content to help them grow. We are very happy and proud to see Martin and Kidjo move forward on this mission with the backing of a leading player in the booming digital press industry.”
You can find out more about Cafeyn in our Publishing Services Directory.
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