<article>Web browser developer <a href="https://www.dealstreetasia.com/tag/Opera-Ltd">Opera Ltd</a> has completed a $30-million strategic investment in StarMaker Inc., a technology-driven social media company focused on music and entertainment.</article>

Web browser developer <a href="https://www.dealstreetasia.com/tag/Opera-Ltd">Opera Ltd</a> has completed a $30-million strategic investment in StarMaker Inc., a technology-driven social media company focused on music and entertainment.
Opera, founded in 1995, was originally owned by Norwegian software firm Otello Corp ASA before being bought by a consortium of Chinese investors in 2016.
According to an announcement, the Opera investment puts the pre-money valuation of StarMaker at $125 million. Opera assumes 19.35 per cent stake in StarMaker, with an option to increase its ownership to 51% in the second half of 2020.
StarMaker has presence in the United States, India and Hong Kong, and focuses on emerging markets like India, Indonesia and the Middle-East.
StarMaker enables users to record and share their own music videos, collaborate with other musicians, connect with other users and follow their idols on the social platform.
Norway-based Opera says its strategic investment in StarMaker will lay the foundation for opportunities for the two companies to leverage on each other’s brands and capture shared opportunities.
StarMaker came under the control of Opera CEO and Board of Director chairman Yahui Zhou. Following this investment, Zhou will continue to hold 65.78% of the outstanding equity interests in StarMaker.
Opera listed on the Nasdaq earlier this year and saw its shares rise as much as 30 per cent in its market debut, giving the Norway-based company a market value of about $1.72 billion.
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Web browser developer Opera Ltd has completed a $30-million strategic investment in StarMaker Inc., a technology-driven social media company focused on music and entertainment.

Chinese-owned Opera invests in music-focused social media firm StarMaker

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Chinese-owned Opera invests in music-focused social media firm StarMaker

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