Boku, Inc.

Boku was founded in 2009 by Mark Britto, Erich Ringewald and Ron HirsonLondon Stock Exchange [https://www.londonstockexchange.com/stock/BOKU/boku-inc/our-story “BOKU, INC.”]. Retrieved 22 May 2024. using the combined assets of Mobillcash Ltd. and Paymo, Inc. Boku raised a $13 million Series A investment from Khosla Ventures, Index Ventures and Benchmark.{{Cite web|url=https://www.wsj.com/articles/BL-VCDB-13618|title=Mobile-Payments Co. Boku Gets Indian Carriers With Qubecell Acquisition|first=Lizette|last=Chapman}}

A year later, in 2010 Boku raised an additional US$25 million Series C investment, led by DAG Ventures.{{cite web| url=http://allthingsd.com/20100119/another-big-bet-on-mobile-payments-boku-raises-25-million/| title=Another Big Bet on Mobile Payments: Boku Raises $25 Million| author=Peter Kafka | date=19 January 2010| publisher=All Things Digital | access-date=19 September 2016}} In 2012, Boku raised another US$35 million, Series C investment led by NEA and existing venture capital investors.{{cite web| url=https://techcrunch.com/2012/03/15/mobile-payments-boku-35m-nea-telefonic/| title=Mobile Payment Startup BOKU Raises A $35M Round. NEA, Telefonica Among The Investors| author=Ingrid Lunden| date=15 March 2012| publisher=Techcrunch| access-date=19 September 2016}} In 2016, Boku again raised an additional US$13.75 million led by a consortium of UK investors along with GMO Payment Gateway.{{Cite news|url=https://techcrunch.com/2016/09/01/boku-locks-down-another-13-75m-to-fund-carrier-connections-for-global-expansion/|title=Boku locks down another $13.75M to fund carrier connections for global expansion|last=Mannes|first=John|work=TechCrunch|access-date=2017-09-15|language=en}}{{cite web| url=http://www.geektime.com/2016/09/01/direct-carrier-payments-get-a-boost-as-startup-boku-scores-13-75-million-funding-round/| title=Direct carrier payments get a boost as startup Boku scores $13.75 million funding round| author=Gedalyah Reback| date=September 2016| publisher=Geektime| access-date=19 September 2016}} In total, Boku has raised more than $91M in venture capital funding from Benchmark Capital, Index Ventures, Khosla Ventures, DAG Ventures, Andreessen Horowitz, New Enterprise Associates, Telefónica, and GMO Payment Gateway.

On November 20, 2017, Boku listed its shares on the London Stock Exchange (AIM) through an £125 million initial public offering.{{cite web| url=http://www.londonstockexchange.com/exchange/news/alliance-news/detail/1511174832848583500.html/| title=DIRECT CARRIER BILLING FIRM BOKU JOINS AIM VALUED AT GBP125 MILLION (ALLIPO)| author=Joshua Warner| date=20 November 2017| publisher=Alliance News Limited| access-date=12 February 2018}}

In 2012, Boku launched mobile wallet payments with GCash in the Philippines.{{Cite web|title=GCash Now Works Anywhere Thanks To BOKU Partnership With Globe Telecom|url=https://www.adweek.com/performance-marketing/boku-globe-telcom/|access-date=2021-05-03|language=en-US}}

In 2013, Boku announced the acquisition of Indian-based Qubecell.{{cite web| url=https://blogs.wsj.com/venturecapital/2013/11/21/mobile-payments-co-boku-gets-indian-carriers-with-qubecell-acquisition/| title=Mobile-Payments Co. Boku Gets Indian Carriers With Qubecell Acquisition | author=Lizette Chapman | date=21 November 2013| publisher=WSJ | access-date=19 September 2016}}

In 2014, Boku launched mobile payments for the Sony PlayStation Store.{{Cite web|title=Boku launches direct carrier billing on Sony's PS4|url=https://www.telecompaper.com/news/boku-launches-direct-carrier-billing-on-sonys-ps4--1018677|access-date=2021-03-28|website=www.telecompaper.com|language=en}} The same year, they acquired German-based carrier billing provider Mopay.{{cite web|author=Ary Levy|date=October 2014|title=No slowdown in payments as Boku buys mopay|url=https://www.cnbc.com/2014/10/06/no-slowdown-in-payments-as-boku-buys-mopay.html|publisher=CNBC|access-date=19 September 2016}}

Boku acquired Mobileview, giving the company access to all four major mobile operators in Italy.{{Cite news|date=2015-08-13|title=Boku acquires Italian mobile payment provider|language=en|work=www.mobilepaymentstoday.com|url=https://www.mobilepaymentstoday.com/news/boku-acquires-italian-mobile-payment-provider/|access-date=2017-09-15}}{{cite web|author=Tech Team|date=18 August 2014|title=Mobile Payment Startup Boku Acquires Mobileview Italia to Expand Carrier-Billing in Europe|url=https://www.thefastmode.com/solution-vendors-ma/5733-mobile-payment-startup-boku-acquires-mobileview-italia-to-expand-carrier-billing-in-europe|publisher=The Fast Mode|access-date=19 September 2016}} In 2017, Boku exceeded $1B in annual payment volume for the first time.{{Cite web|title=History & Development|url=https://www.boku.com/investor-relations/history-development/|access-date=2021-03-28|website=Boku Inc.|language=en-GB}}

In 2018, Boku acquired Danal to add mobile authentication services that secure consumer accounts and transactions.{{Cite web|title=Mobile payment co. Boku acquires Danal for up to $68M to add user authentication|url=https://techcrunch.com/2018/12/06/mobile-payment-co-boku-acquires-danal-for-up-to-68m-to-add-in-user-authentication/|access-date=2021-02-23|website=TechCrunch|date=6 December 2018 |language=en-US}}{{Cite web |last=Vilar |first=Henry |date=7 December 2018 |title=Boku takes on mobile with $112m Danal acquisition |url=https://www.fintechfutures.com/2018/12/boku-takes-on-mobile-with-112m-danal-acquisition/ |access-date=11 November 2024 |website=Fintech Futures}}

In 2020, Boku acquired Fortumo, a carrier billing company, and recorded revenues of $54.6 million.{{Cite web|date=2020-06-17|title=Mobile payments outfit Boku to buy Fortumo|url=https://www.finextra.com/pressarticle/82951/mobile-payments-outfit-boku-to-buy-fortumo|access-date=2021-02-23|website=Finextra Research|language=en}}

Through its subsidiary, Boku Network Services IN Pvt. Ltd., Boku Inc. has obtained complete clearance from the Reserve Bank of India (RBI) to operate as a Payment Aggregator in India. This progress comes after the first in-principle permission that was given on 31 January 2023.{{Cite web |last= |first= |date=2023-05-30 |title=The Global Reach of Boku: Reserve Bank of India Backs Boku for Payment Aggregator Services |url=https://www.dailyexcelsior.com/the-global-reach-of-boku-reserve-bank-of-india-backs-boku-for-payment-aggregator-services/ |access-date=2024-04-22 |website=Daily Excelsior |language=en-US}}

Boku's payments customers include Apple Inc., Google, Sony, Microsoft, Facebook, Tencent, Spotify, Electronic Arts, DAZN and Riot Games amongst others.{{Citation needed|date=May 2019}} Payments partners include mobile operators Vodafone, Verizon, Jio, Deutsche Telekom, Telefónica, Saudi Telecom (STC), SK Telecom, Zong and mobile wallet providers LINE Pay, KakaoPay, RabbitLinePay, GCash, GoPay, OVO, Dana, GrabPay.{{cite web| url=http://blog.xsolla.com/2016/04/11/xsolla-boku-gateway-to-drive-mobile-business| title=Xsolla & Boku: Gateway to Drive Mobile Business| author=Justin Llewellyn | date=11 April 2016| publisher=Xsolla Blog | access-date=19 September 2016}}

Boku provides businesses with the ability to accept mobile payments (direct carrier billing and mobile wallets) online from consumers.{{Cite web |last=PYMNTS |date=2018-12-06 |title=Boku Buys ID Authentication Co. Danal For $68M |url=https://www.pymnts.com/news/partnerships-acquisitions/2018/mobile-payments-boku-danal-merger-stocks/ |access-date=2024-05-30 |website=PYMNTS.com |language=en-US}} Boku also offers a subscription bundling product, named Trident, that enables subscription services to be offered to consumers through a mobile network operator.{{cite web| url=https://venturebeat.com/2015/02/26/boku-launches-phone-on-file-technology-to-replace-your-credit-card-with-your-mobile-number/| title=Boku launches 'phone-on-file' carrier billing to replace credit cards with phone numbers| author=Paul Sawers | date=26 February 2015| publisher=Venturebeat | access-date=19 September 2016}} Additionally, Boku offers mobile identity products that utilize mobile network operator data in order for consumers to verify their identity in order to complete transactions online.{{cite web| url=https://www.finextra.com/pressarticle/64246/spotify-enlists-boku-for-carrier-billing-in-germany-and-italy| title=Spotify enlists Boku for carrier billing in Germany and Italy| author=press release | date=29 April 2016| publisher=Finextra | access-date=19 September 2016}}

In 2011, Mobile Trax awarded Boku their Mobility Award.{{cite web| url=http://www.boku.com/boku-wins-the-2011-mobility-award-for-mobile-commerce/| title=Boku Wins the 2011 Mobility Award for Mobile Commerce| author=Admin | date=25 March 2011| publisher=Boku Blog | access-date=19 September 2016}} In 2011{{cite web| url=https://www.forbes.com/lists/2011/28/most-promising-companies-11_rank.html| title=Americas Most Promising Companies| author=Brett Nelson, J.J. Colao and Max Mallet | date= 30 November 2011| work=Forbes | access-date=19 September 2016}} and 2013, Forbes selected Boku for their 25 most promising companies in America list.{{cite web| url=https://www.forbes.com/companies/boku/| title=Americas Most Promising Companies| author=Brett Nelson, J.J. Colao and Max Mallet | date= February 2013| work=Forbes | access-date=19 September 2016}}

In 2014, Boku won the "Best Alternative Payments" award at 2014 Payment Awards.{{cite web| url=http://www.retail-systems.com/rs/2014_Payments_Awards_Winners.php| title=2014 Payments Awards: winners announced| author=Scott Thompson| date=21 November 2014| publisher=Retail Systems | access-date=19 September 2016}}

In 2020, Boku won the "Future Digital Awards" for Best Mobile Money Offering and Fraud Detection and Prevention Innovation.{{Cite web |last= |first= |date=2020-10-01 |title=Juniper Research Recognizes Boku with two 'Future Digital Awards' |url=https://www.globenewswire.com/en/news-release/2020/10/01/2102341/0/en/Juniper-Research-Recognizes-Boku-with-two-Future-Digital-Awards.html |access-date=2021-05-03 |website=GlobeNewswire News Room |language=en}}

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Category:Mobile payments

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