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Exclusive: Bobble AI lays off 50 employees amid organizational redesign

EntrackrEntrackr ยท 2d ago
Exclusive: Bobble AI lays off 50 employees amid organizational redesign
Medial

Exclusive: Bobble AI lays off 50 employees amid organizational redesign According to the company, it is supporting outgoing employees with an Employee Assistance Program, career coaching, and well-being sessions. Bobble AI, the homegrown AI-powered communication and data intelligence startup, has laid off about 50 employees in a recent round of restructuring, according to three sources aware of the matter. "The move was communicated internally and has been attributed to the companyโ€™s ongoing fundraising challenges. The layoffs were linked to the slowdown in closing fresh funding,โ€ said a source, requesting anonymity. Bobble AI confirmed the development to Entrackr. โ€œBobble AI recently undertook an organizational redesign to align with our long-term strategic priorities and commitment to stakeholders. This meant reflection and looking into 3 Ps โ€“ Projects, Processes and People. This decision was not driven solely by fundraising but by our focus on building a leaner, more resilient company. We remain confident about our growth path and committed to innovating in AI-powered communication and data intelligence,โ€ said Ankit Prasad, founder of Bobble AI, in a statement. However, the company did not comment on how many employees were impacted by the layoff. Entrackr had earlier reported that Bobble AI is raising fresh funds at a 30% lower valuation. According to startup data intelligence platform TheKredible, the Gurugram-based company has raised around $35 million, including $26 million in a mix of primary and secondary capital from Krafton Inc in September 2022. Krafton controls nearly 25% stake in the 12-year-old company. Bobble.ai offers an AI-powered Indic keyboard supporting over 120 languages, with facial recognition for personalized GIFs and stickers. Integrated with WhatsApp and Facebook (Meta), the company monetizes through ads, data insights, subscriptions, and branded merchandise. For the fiscal year ended March 2024, Bobble AI registered a 25% growth in revenue to Rs 37.67 crore. However, its losses also widened by 40% to Rs 60.88 crore in the same period. The firm is yet to report its FY25 numbers.

ShareChat appoints Googleโ€™s Neha Markanda as CBO

EntrackrEntrackr ยท 19d ago
ShareChat appoints Googleโ€™s Neha Markanda as CBO
Medial

ShareChat appoints Googleโ€™s Neha Markanda as CBO Social media platform ShareChat has onboarded Googleโ€™s head of industry and ecommerce Neha Markanda as chief business officer (CBO) for both its ShareChat and Moj platforms. Markanda will be stepping into Gaurav Jainโ€™s role, who quit ShareChat in June. Entrackr had exclusively reported Jainโ€™s departure on June 16. In her new role, Markanda will lead the companyโ€™s revenue strategy, boost growth and foster ties with stakeholders across India, said ShareChat in a press release. Earlier, she spearheaded Google Indiaโ€™s health strategy while also driving business transformation and AI-led solutions in both retail and health tech. โ€œNeha Markandaโ€™s expertise at brand building, deep understanding of problems that marketers face, the way brands measure return on spends, and proven ability to deliver business growth make her an invaluable addition to our leadership team,โ€ said ShareChat co-founder Ankush Sachdeva. Having more than 22 years of experience, Markanda has previously served as Metaโ€™s head of business marketing for three years. Her career also spans roles in GSK Consumer Healthcare India, HCL Technologies, and ITC Limited, among others. โ€œI look forward to working with the talented teams here to further enhance our offerings and support the business growth ambitions of our partnersโ€ฆ,โ€ said Markanda. Earlier this year, ShareChat went through layoffs, reducing 5% of its workforce as part of a performance review cycle. In 2024, the company raised $65 million in debt across two tranches. It has raised around $1.3 billion from investors including Twitter (now X), Alkeon Capital, Moore Strategic Ventures, and Tencent, among others. ShareChat's operational revenue increased by 29.9% to Rs 718.1 crore in FY24 from Rs 552.73 crore in FY23. During the same period, the company's losses decreased by 41.4% to Rs 1,898.94 crore.

Exclusive: Bobble AI to raise fresh funds at 30% valuation dip

EntrackrEntrackr ยท 1m ago
Exclusive: Bobble AI to raise fresh funds at 30% valuation dip
Medial

Exclusive: Bobble AI to raise fresh funds at 30% valuation dip Xiaomi-backed Bobble AI is raising $1.5 million or Rs 12.9 crore from its existing backer gaming giant Krafton in its Series D round. The new round seems to be an ongoing one and the firm may mop up more capital. The board at Bobble AI passed a resolution to approve the issue of 600 Series D2 compulsory convertible preference shares at an issue price of Rs 2,14,940 each to raise the aforementioned amount, its regulatory filing accessed from Registrar of Companies (RoC) shows. The proceeds will be used for general corporate purposes. Entrackr estimates the companyโ€™s valuation at Rs 834 crore ($98 million), down nearly 30% from its Rs 1,172 crore ($138 million) Series C valuation. Founded in 2012, Bobble.ai provides an AI-powered Indic keyboard supporting over 120 languages, with facial recognition for personalized GIFs and stickers. Integrated with apps like WhatsApp and Facebook, it captures real-time user intent. The company earns through targeted ads, consumer data insights, subscription features, and branded merchandise. According to startup data intelligence platform TheKredible, the Gurugram-based company has raised around $35 million including Rs 206 crore ($26 million) in a mix of primary and secondary capital from Krafton Inc in September 2022. During the round, it acquired a 12.34% stake from Affle. Following the latest infusion, Krafton will be commanding a 24.84% stake in the 12-year-old company. For the fiscal year ended March 2024, Bobble AI reported a 25% growth in revenue to Rs 37.67 crore. However, its losses also widened by 40% to Rs 60.88 crore in the same period. The firm is yet to report its FY25 numbers. BGMI-maker Krafton recently invested in the social networking platform Shuru and the Sachin Tendulkar-backed JetSynthesys. Its other notable investments include Kuku FM, Cashfree, One Impression, Pratilipi, and Nautilus, among several others.

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