Nazara Technologies

Nazara Technologies is a mobile gaming company and sports media platform based in India.[2]

Nazara Technologies
TypePublic
Industry
Founded1999 (1999)
FounderNitish Mittersain
HeadquartersMumbai, Maharashtra, India[1]
Area served
Worldwide
Websitenazara.com

History

In 1999, Nazara Technologies was founded by Nitish Mittersain.[3] In 2018, Nazara was planning to go public and obtained approval from the markets regulators, but halted the process.[4] Ultimately, the company was listed on the NSE and BSE in 2021.[5] In 2019, Nazara Technologies acquired the sports media website Sportskeeda.[6][7] In 2021, the company recorded a profit of ₹20.28 crore (US$2.5 million) grew from ₹15 crore (US$1.9 million) to ₹35.28 crore (US$4.4 million) as compared to the last year.[8]

In November 2022, Porush Jain resigned as director and CEO of the company and appointed Ajay Pratap Singh.[9] In FY2022, the company recorded a turnover of ₹80.65 crore (US$10 million) from ₹35.28 crore (US$4.4 million) as compared to last year.[8]

In 2023, Nazara Technologies acquired US-based Pro Football Network LLC which is an analysis website that covers National Football League (NFL) and college football with 73.27% stake at ₹16 crore (US$1.82 million), through their subsidiary Sportskeeda.[10][11] According to the exchange filing, Sportskeeda reserves an option to acquire up to 10 percent and up to 8 percent additional stock of the Pro Football Network LLC in CY 2024 and CY 2025 respectively.[12][13] Nazara Technologies joined the All India Gaming Federation (AIGF) as a principal member.[14]

Subsidiaries

The company offers various interactive gaming options, eSports, ad-tech, and gamified early learning ecosystems. Nazara is present in the Indian eSports market (via Nodwin) and cricket simulation (via Nextwave).[15]

  • World Cricket Championship and CarromClash in mobile games
  • Kiddopia in gamified early learning
  • Nodwin Gaming in eSports
  • Halaplay and Openplay[16] in skill-based games
  • Datawrkz in digital ad tech
  • Sportskeeda in eSports media

Sportskeeda
Sportskeeda logo

Sportskeeda is a global sports and esports media subsidiary of Nazara Technologies headquartered in Bangalore, India.[17] It features, news, articles and live coverage of sports such as cricket, association football, American football, basketball, mixed martial arts, and professional wrestling.[4][18][19][20] According to the Business Standard, Sportskeeda is India's largest all-sports website.[21]

In 2009, the company was founded by Porush Jain. After a few months, the company raised funding from angel investors like Anshu Prasad and Srinivas Cuddapah with an undisclosed amount.[22]

In 2011, an early stage venture capital funding company Seedfund invested ₹2.8 crore. This helped Sportskeeda to scale up their operations.[23] In 2019, Nazara Technologies acquired Sportskeeda and funded ₹44 crore with 67% stake in the sports media, valuing it at ₹65 crore.[7][2] In 2020, during COVID-19 pandemic, the company launched two video series Freehit and SKlive. Freehit is an interview series with sports legends shot at homes of sportspersons while SKLive is a daily web interview series with current and past sports legends.[24]

In May 2022, Nazara set up its subsidiary Sportskeeda Inc. in Delaware, US.[25] In November 2022, Porush Jain resigned as CEO and Ajay Pratap Singh was promoted as the chief executive officer.[26] Sportskeeda partnered with Dream11 to produce 8 long-format videos showcasing 8 unsung heroes who have made significant contributions to cricket and supporting many people.[27]

Awards and recognition

In August 2021, Sportskeeda won Gold award in the News Coverage Platform (Esports And Gaming) category by Gamexx 2021.[28]

See also

References
  1. Khan, Taslima (22 December 2017). "For Nazara's IPO run, a long-haul horse". The Times of India. Retrieved 24 July 2023.
  2. Malik, Yuvraj (21 August 2019). "Nazara Technologies acquires 67% stake in Sportskeeda for Rs 44 cr". Business Standard.
  3. "Nitish Mittersain – Nazara". Retrieved 28 June 2023.
  4. M. Sriram (21 August 2019). "Nazara Technologies Wednesday said it has acquired a majority stake in sports content website Sportskeeda.com". Hindustan Times.
  5. "Nazara Technologies shares list at 81% premium over issue price; Jhunjhunwala stake valued at Rs 656 crore". The Economic Times. Retrieved 24 July 2023.
  6. Varuni Khosla (22 March 2023). "Gaming firm Nazara acquires Sportskeeda". LiveMint.
  7. "Gaming firm Nazara acquires Sportskeeda". Hindustan Times. 21 August 2019. Retrieved 6 June 2023.
  8. "Nazara to acquire additional 6.05% stake in Sportskeeda for Rs 20 crore – Exchange4media". Exchange4media. Retrieved 12 June 2023.
  9. Thathoo, Chetan (17 November 2022). "Nazara-Backed Sportskeeda Founder Porush Jain Resigns As CEO". Inc42 Media. Retrieved 6 June 2023.
  10. Gupta, Aryaman (22 March 2023). "Nazara arm Sportskeeda pays $1.8 mn for 73.27% stake in NFL-focused US firm". Business Standard. Retrieved 6 June 2023.
  11. Das, Sudip (23 March 2023). "Buzzing Stocks | Hero MotoCorp, Hindustan Aeronautics, HG Infra Engineering, and others in the news today". Moneycontrol. Retrieved 6 June 2023.
  12. Jomy Jos Pullokaran (22 March 2023). "Nazara arm Sportskeeda acquires 73 percent stake in NFL-focused US website". CNBC TV18. Sportskeeda Inc acquired the majority stake in Pro Football Network LLC for $1.817 million. The investment is part of Sportskeeda's growth strategy in the US digital sports media market.
  13. Tapanjana Rudra (23 March 2023). "Nazara's Sportskeeda buys NFL-focused platform Pro Football Network for 1.8 million". ET Now.
  14. Teena Jose (17 May 2023). "Nazara's Sportskeeda buys NFL-focused platform Pro Football Network for 1.8 million". Entrepreneur India.
  15. "Our Company – Nazara". Retrieved 28 June 2023.
  16. Sneha Shah (28 August 2021). "Nazara Technologies acquires OpenPlay for Rs 186 crore". The Economic Times.
  17. "Rakesh Jhunjhunwala-backed Nazara Tech now a leading gaming company". The Economic Times. 22 March 2023. Sportskeeda in esports and esports media
  18. "Rakesh Jhunjhunwala-backed Nazara Tech now a leading gaming company". The Economic Times. 22 March 2023. Sportskeeda in esports and esports media
  19. SN, Vikas (16 November 2022). "Nazara's Sportskeeda appoints Ajay Pratap Singh as CEO; founder Porush Jain resigns". Moneycontrol. Retrieved 6 June 2023.
  20. "Sportskeeda appoints Anirudh Kumar as chief strategy officer". Brand Equity The Economics Times. 22 March 2022. Retrieved 12 June 2023.
  21. "Sportskeeda set to cross 40 mn users, 1 bn ad impressions monthly". Business Standard. 8 March 2019.
  22. Ghosh, Aparna (20 August 2014). "Online retail: Counting on sports lovers". Mint. Retrieved 6 June 2023.
  23. N. Ramakrishnan (23 September 2012). "A social way of covering sports". Business Line. Retrieved 6 June 2023.
  24. Sabherwal, Simran (11 September 2020). "We want to be lean, yet grow fast: Porush Jain, Sportskeeda – Exchange4media". Exchange4media. Retrieved 6 June 2023.
  25. "Sportskeeda establishes an entity in the US; to invest USD 4 million into operations". ThePrint. 27 May 2022. Retrieved 18 November 2022.
  26. Chetan Thathoo (17 November 2022). "Nazara-Backed Sportskeeda Founder Porush Jain Resigns As CEO". Inc 42.
  27. Mahadik, Gauresh (14 May 2022). "Dream11 collaborates with Sportskeeda to release new 'Dream Big' stories". SportsMint Media. Retrieved 12 June 2023.
  28. "GAMEXX AWARDS 2021 – Real Awards for Real Achiever's". Gamexx Awards 2021 Initiative by Adgully. Retrieved 6 June 2023.
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