Nazara Technologies

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Nazara Technologies
Company typePublic
Industry
Founded1999; 25 years ago (1999)
FounderNitish Mittersain
HeadquartersMumbai, Maharashtra, India[1]
Area served
Worldwide
RevenueIncrease ₹1,091 crore (US$140 million) (FY23)[2]
Increase ₹61 crore (US$7.6 million) (FY23)[2]
Websitenazara.com

Nazara Technologies is a mobile gaming and sports media company based in Mumbai, India.

History[edit]

Nazara Technologies was founded by Nitish Mittersain in 1999.[3]

In 2015, Nazara entered into a licensing agreement with Green Gold Animations, under which Nazara would create mobile games based on the latter's Chhota Bheem animated television series.[4] In 2016, Nazara was signed up by Indian comics company Amar Chitra Katha to develop mobile games on Tinkle characters like Shikari Shambu.[5]

In 2018, Nazara acquired a majority stake in Nextwave Multimedia, a Chennai-based mobile game developer known for World Cricket Championship titles.[6] In the same year, it acquired 55% stake in esports firm Nodwin Gaming.[7] Nazara was planning to go public in 2018 and had obtained approval from the market regulators, but halted the process.[8]

In 2019, Nazara Technologies purchased a 67% stake in Absolute Sports, the parent company of Sportskeeda, for ₹44 crore.[9][10][11] It also acquired a 51% stake in Paper Boat Apps, the developer and publisher of gamified early learning app Kiddopia, for ₹83.5 crore later that year.[12]

In March 2021, Nazara was listed on the NSE and BSE after its initial public offering.[13] Later the same year, it acquired the Hyderabad-based real-money gaming company OpenPlay for ₹186 crore.[14]

In 2022, Nazara acquired a 55% stake in Datawrkz, an advertising technology company based in Bangalore, for ₹124 crore.[15] Later that year, it bought out the US-based kids gaming company WildWorks for $10.4 million.[16]

In 2023, Nazara Technologies acquired 73.27% stake in Pro Football Network LLC, a US-based sports analysis website that covers National Football League (NFL) and college football, for ₹16 crore (US$1.82 million), through its subsidiary Sportskeeda.[17][18]

Nazara Technologies joined the All India Gaming Federation (AIGF) as a principal member.[19]

Subsidiaries[edit]

The company offers various interactive gaming options, eSports, ad-tech, and gamified early learning ecosystems. Notable subsidiaries include:[20]

  • Nextwave Multimedia in cricket simulation games
  • Kiddopia in gamified early learning
  • WildWorks in kids gaming
  • Nodwin Gaming in eSports
  • Halaplay and Openplay in skill-based games
  • Datawrkz in digital ad tech
  • Sportskeeda in eSports media

Sportskeeda[edit]

Sportskeeda logo

Sportskeeda is a global sports and esports media subsidiary of Nazara Technologies headquartered in Bangalore, India.[21] It features, news, articles and live coverage of sports such as cricket, association football, American football, basketball, mixed martial arts, and professional wrestling.[8][22][23] According to the Business Standard, Sportskeeda is India's largest all-sports website.[24]

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.[25] In 2011, an early stage venture capital funding company Seedfund invested ₹2.8 crore.[26]

In 2019, Nazara Technologies acquired a 67% stake in Sportskeeda for ₹44 crore, valuing Sportskeeda at ₹65 crore.[10][9] In 2020, during COVID-19 pandemic, the company launched two video series Freehit and SKlive, featuring interviews with prominent sportspeople.[27]

In May 2022, Nazara set up its subsidiary Sportskeeda Inc. in Delaware, US.[28] In November 2022, Porush Jain resigned as CEO and Ajay Pratap Singh was promoted as the chief executive officer.[29]

Games[edit]

Awards and recognition[edit]

In August 2021, Sportskeeda won Gold award in the News Coverage Platform (Esports And Gaming) category by Gamexx 2021.[30]

References[edit]

  1. ^ Khan, Taslima (22 December 2017). "For Nazara's IPO run, a long-haul horse". The Times of India. Retrieved 24 July 2023.
  2. ^ a b "Nazara Tech Q4 results: Profit up 92% at Rs 9.4 crore, revenue rises 65%". The Economic Times. 9 May 2023. Retrieved 23 May 2024.
  3. ^ "Nitish Mittersain – Nazara". Retrieved 28 June 2023.
  4. ^ "Nazara creates gaming franchisee with 'Chota Bheem' owner; to invest $7.6M". Techcircle. 17 August 2015. Retrieved 23 May 2024.
  5. ^ Ganguly, Shramana (19 January 2016). "Amar Chitra Katha ropes in Nazara Games to develop character- based mobile games". The Economic Times. Retrieved 23 May 2024.
  6. ^ "Gaming firm Nazara acquires majority stake in Chennai-based Nextwave". BusinessLine. 8 January 2018. Retrieved 23 May 2024.
  7. ^ Malik, Yuvraj (24 January 2018). "Nazara acquires majority stake in NODWIN Gaming". mint. Retrieved 23 May 2024.
  8. ^ a b M. Sriram (21 August 2019). "Nazara Technologies Wednesday said it has acquired a majority stake in sports content website Sportskeeda.com". Hindustan Times.
  9. ^ a b Malik, Yuvraj (21 August 2019). "Nazara Technologies acquires 67% stake in Sportskeeda for Rs 44 cr". Business Standard.
  10. ^ a b "Gaming firm Nazara acquires Sportskeeda". Hindustan Times. 21 August 2019. Retrieved 6 June 2023.
  11. ^ "Nazara to acquire additional 6.05% stake in Sportskeeda for Rs 20 crore – Exchange4media". Exchange4media. Retrieved 12 June 2023.
  12. ^ "Nazara acquires majority stake in Paper Boat Apps". The Times of India. 17 October 2019. Retrieved 23 May 2024.
  13. ^ "Nazara Technologies shares list at 81% premium over issue price; Jhunjhunwala stake valued at Rs 656 crore". The Economic Times. Retrieved 24 July 2023.
  14. ^ Sneha Shah (28 August 2021). "Nazara Technologies acquires OpenPlay for Rs 186 crore". The Economic Times.
  15. ^ "Nazara acquires majority stake in Datawrkz for Rs 124 crore". The Economic Times. 18 January 2022. Retrieved 23 May 2024.
  16. ^ Vardhan, Gyan (30 August 2022). "Nazara acquires US-based gaming company WildWorks". Entrackr. Retrieved 23 May 2024.
  17. ^ 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.
  18. ^ 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.
  19. ^ Teena Jose (17 May 2023). "Nazara Technologies Joins All-India Gaming Federation (AIGF)". Entrepreneur India.
  20. ^ "Our Company – Nazara". Retrieved 28 June 2023.
  21. ^ "Rakesh Jhunjhunwala-backed Nazara Tech now a leading gaming company". The Economic Times. 22 March 2023. Sportskeeda in esports and esports media
  22. ^ SN, Vikas (16 November 2022). "Nazara's Sportskeeda appoints Ajay Pratap Singh as CEO; founder Porush Jain resigns". Moneycontrol. Retrieved 6 June 2023.
  23. ^ "Sportskeeda appoints Anirudh Kumar as chief strategy officer". Brand Equity The Economics Times. 22 March 2022. Retrieved 12 June 2023.
  24. ^ "Sportskeeda set to cross 40 mn users, 1 bn ad impressions monthly". Business Standard. 8 March 2019.
  25. ^ Ghosh, Aparna (20 August 2014). "Online retail: Counting on sports lovers". Mint. Retrieved 6 June 2023.
  26. ^ N. Ramakrishnan (23 September 2012). "A social way of covering sports". Business Line. Retrieved 6 June 2023.
  27. ^ Sabherwal, Simran (11 September 2020). "We want to be lean, yet grow fast: Porush Jain, Sportskeeda – Exchange4media". Exchange4media. Retrieved 6 June 2023.
  28. ^ "Sportskeeda establishes an entity in the US; to invest USD 4 million into operations". ThePrint. 27 May 2022. Retrieved 18 November 2022.
  29. ^ Chetan Thathoo (17 November 2022). "Nazara-Backed Sportskeeda Founder Porush Jain Resigns As CEO". Inc 42.
  30. ^ "GAMEXX AWARDS 2021 – Real Awards for Real Achiever's". Gamexx Awards 2021 Initiative by Adgully. Retrieved 6 June 2023.
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