Business Update11 Sept 2024, 09:09 pm
Nazara Technologies Invests INR 18.4 Cr in STAN, a Leading Gaming Community Platform in India
AI Summary
Nazara Technologies Ltd, India's only publicly listed diversified gaming, esports and sports media company, has announced an acquisition of 15.86% stake in GetStan Technologies Pte. Ltd (STAN), a leading esports community platform in India. The investment, worth INR 18.4 Cr (US$2.2 million), is part of Nazara's strategic expansion in the gaming and esports landscape. STAN, a key player in the Indian esports and fan engagement space, has a user base of over 12 million and boasts over 500,000 paying users. The platform has shown strong monetization, with a high 30-day retention rate of over 60%.
Key Highlights
- Nazara Technologies invests INR 18.4 Cr in STAN, a leading gaming community platform in India
- STAN is a key player in the Indian esports and fan engagement space
- STAN has a user base of over 12 million and boasts over 500,000 paying users
- The platform has shown strong monetization, with a high 30-day retention rate of over 60%
- Nazara's investment in STAN aligns with its vision to become a leading player in the global esports ecosystem