Interactive gaming firm Nazara Technologies acquires 67% stake in Sportskeeda
With this investment, Nazara adds 25 million monthly active users and closes in on 100 million monthly active users on its network
Published - Aug 22, 2019 10:21 AM Updated: Aug 22, 2019 10:21 AM
Nazara Technologies Ltd., a global interactive gaming and sports media company, has invested approximately 44 crores and acquired a 67 per cent stake in sports media platform Sportskeeda. 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.
Sportskeeda was formerly backed by Seedfund, an early stage venture capital company with an investment amount of approximately 6 crores in 2012. Today, Sportskeeda curates over 10,000 articles per month, crowd sourced from a network of top journalists and serves personalized 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 multisport 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 Bharati Jacob, Co-founder, SeedFund “We, at SeedFund, have enjoyed a decade long partnership with Sportskeeda. We are pleased to see Porush and his team realize their vision in making Sportskeeda one of the major sports media destinations in India and internationally.”
Nitish Mittersain, Founder and Managing Director of Nazara Technologies Ltd. added, “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”.
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