Stickeroid AI, a two-year-old startup, earlier this year sold its technology to a Korean group of companies called Naver.
The Cyprus-based company of Russian origin is developing a cloud platform that applies machine learning to converting words into stickers.
According to CEO Viktor Kokh, it’s “not the company that’s been sold in the deal; it’s only part of the technology.”
In late November 2018, Stickeroid AI joined the winners of a special start-up competition called GoTech, and was eligible for a $200K prize from AD.ru, a Russian investment fund. The start-up didn’t receive the prize, though, because it refused to negotiate terms as it was preparing for the Korean deal.
This story initially appeared in Marchmont Innovation News, Russia`s daily business news website.