Nazara Expands Reach in Gaming Communities with Stan Acquisition
Nazara Technologies Acquires Stake in Stan
Nazara Technologies is investing in the gaming community startup Stan with a substantial acquisition of 15.86 percent for $2.2 million (Rs 18.4 crore). This strategic move is part of Nazara's efforts to enhance its gaming and esports offerings. The investment involves Nazara's Dubai subsidiary purchasing shares from founders of Nodwin Gaming.
Community Engagement and Digital Collectibles
STAN prioritizes a mobile-first approach designed for vibrant gaming communities. According to CEO Nitish Mittersain, this acquisition enables us to empower content creators while engaging users through digital collectibles and interactive platforms.
- Users can trade NFTs of favorite esports players.
- Gamers gain access to experiences like bootcamp tours and personalized interactions.
- Stan's user base has surpassed 12 million, demonstrating strong engagement.
Financial Growth and Future Prospects
With an impressive annual turnover jump from Rs 1 crore in FY23 to Rs 15 crore for FY24, Stan is positioned for considerable growth. This investment from Nazara is expected to boost its potential and accelerate its vision for reshaping gaming communities.
- Stan has already raised approximately $5.2 million in funding.
- Key investors include General Catalyst and Aptos Labs.
- Esports remains a major vertical for Nazara with substantial revenues.
This acquisition marks a pivotal moment for both Nazara and Stan as they jointly seek to redefine the gaming landscape.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.