Nazara Technologies acquires majority stake in Sportskeeda for Rs 44 cr
MUMBAI: Nazara Technologies, a leading global interactive gaming, and sports media company, has invested an approximately Rs 44 crore and acquired a 67% stake in Sportskeeda, a sports media platform. With this investment, Nazara adds 25 million monthly active users and closes in on 100 million monthly active users on its network.
Nazara has built a strong network of companies in the interactive gaming and sports space through its investments and acquisitions in various gaming categories including e-sports, fantasy sports, mobile cricket games, and real money gaming among others.
Nazara has been the most aggressive investor in the Indian gaming and sports media space in the last 18 months. This investment will also stand to benefit Nazara’s portfolio enabling cross networking opportunities while lending symbiotic synergy between the investee companies.
Sportskeeda was formerly backed by Seedfund, an early-stage venture capital company with an investment amount of approximately Rs 6 crore in 2012. Today, Sportskeeda curates over 10,000 articles per month, crowdsourced from a network of top journalists and serves personalised content to over 25 million+ monthly active users globally. Sportskeeda covers mainstream sports like football, cricket, esports, basketball, kabaddi, WWE, MMA and more.
Sportskeeda CEO Porush Jain said, “Nazara’s acquisition and investment into Sportskeeda is an important milestone in our journey. From our modest beginning as a multi-sport blog in 2009, we have become a one of a kind sports content platform. We have our eyes set on becoming the world’s largest multi-sport platform by leveraging Nazara’s geographical reach in the sports-crazy Middle East & Africa markets.”
According to SeedFund co-founder Bharati Jacob said, “We, at SeedFund, have enjoyed a decade long partnership with Sportskeeda. We are pleased to see Porush and his team realise their vision in making Sportskeeda one of the major sports media destinations in India and internationally.
Nazara Technologies Founder and MD Nitish Mittersain stated, “We at Nazara are building platforms for fan engagement across all aspects of sports entertainment and we believe that this move will serve a triple play offering to the 100 million strong network through content, competition and community across all emerging markets.”