Nazara Technologies is a mobile gaming company and sports media platform based in Mumbai, India.[2]
 | |
| Company type | Public |
|---|---|
| Industry |
|
| Founded | 1999 |
| Founder | Nitish Mittersain |
| Headquarters | Mumbai, Maharashtra, India[1] |
Area served | Worldwide |
| Website | nazara |
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] Additionally, Nazara purchased a 67% stake in Absolute Sports for ₹44 crore, valuing the portal at around ₹65 crore.[8] 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.[9]
In November 2022, Porush Jain resigned as director and CEO of the company and appointed Ajay Pratap Singh.[10] 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.[9]
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.[11][12] 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.[13][14] Nazara Technologies joined the All India Gaming Federation (AIGF) as a principal member.[15]
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).[16]
- World Cricket Championship and CarromClash in mobile games
- Kiddopia in gamified early learning
- Nodwin Gaming in eSports
- Halaplay and Openplay[17] in skill-based games
- Datawrkz in digital ad tech
- Sportskeeda in eSports media
Sportskeeda
Sportskeeda is a global sports and esports media subsidiary of Nazara Technologies headquartered in Bangalore, India.[18] It features, news, articles and live coverage of sports such as cricket, association football, American football, basketball, mixed martial arts, and professional wrestling.[4][19][20][21] According to the Business Standard, Sportskeeda is India's largest all-sports website.[22]
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.[23]
In 2011, an early stage venture capital funding company Seedfund invested ₹2.8 crore. This helped Sportskeeda to scale up their operations.[24] 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.[25]
In May 2022, Nazara set up its subsidiary Sportskeeda Inc. in Delaware, US.[26] In November 2022, Porush Jain resigned as CEO and Ajay Pratap Singh was promoted as the chief executive officer.[27] 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.[28]
Awards and recognition
In August 2021, Sportskeeda won Gold award in the News Coverage Platform (Esports And Gaming) category by Gamexx 2021.[29]