Nazara Acquires 15.86% Stake in Blockchain-Based E-Sports Startup Stan for $2.2 million
Mumbai-based gaming and sports media company Nazara Technologies has made another significant move in the gaming and e-sports landscape, acquiring a 15.86% stake in blockchain-based e-sports fan engagement startup Stan for an aggregate cash consideration of up to $2.2 million.
This acquisition comes on the heels of Nazara’s recent purchase of UK-based gaming studio Fusebox Games Limited for Rs 228 crore ($27.2 million) in an all-cash transaction last month. This deal further strengthens Nazara’s position in the gaming and e-sports space, as per the company’s filing with the stock exchange.
Stan, founded by Vladimera Chadha, Rahul Singh, Nauman Mulla, and Shubham Gupta in 2022, offers a web3-based platform that enables creators to build and monetize communities, allowing users to engage with their favorite gaming creators or celebrities through digital collectibles, chat or audio rooms, and exclusive celebrity communities. The startup has raised $2.7 million in funding from Aptos Labs, Maelstrom Fund, and others in January this year, and had previously secured $2.5 million in its seed round led by General Catalyst and others in May 2022.
Stan boasts a user base of over 12 million, with a turnover of $1.8 million as of March 31, 2024. With this acquisition, Nazara appears to be bolstering its presence in the e-sports and gaming segment, which contributed 52.73% to its total operating revenue in Q1 FY25. Gaming, accounting for 37.11% of the topline, followed ad tech with a share of 10.26%.
This acquisition is part of Nazara’s strategic growth plan, which includes several recent deals, such as the acquisition of Kiddopia’s developer Paper Boat Apps, buying IP rights of Ultimate Teen Patti, and taking over assets of DeltiasGaming. The company has secured an aggregate consideration of up to $29.4 million through these deals in the past few months.
With this investment, Nazara is expanding its capabilities in the e-sports and gaming sector, which is expected to continue growing in the coming years. The acquisition of a 15.86% stake in Stan could prove beneficial in enhancing user engagement and expanding its offerings in the gaming and e-sports space.
