Adtech company Affle has frequently found itself in legal wrangles with startups it has either acquired or invested in. This time, it is at loggerheads with the founders of one of its biggest acquisitions — Jampp. Sources say this could have a direct impact on Jampp’s performance and in turn impact Affle’s financials given the former’s significant revenue contribution.
In June last year, the Investor Complaints Cell of the Securities and Exchange Board of India (Sebi) received a letter from a former executive of listed mobile-advertising company Affle. The letter, also marked to the stock exchanges, alleged that the company with a market cap of INR18,000 crore had not made enough disclosures after it fired multiple senior management executives linked to a key acquisition. The employees in question are the
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