Nazara Technologies
 | |
| Company type | Private |
|---|---|
| Industry |
|
| Founded | 2009 |
| Founder | Porush Jain |
| Headquarters | Bangalore, India |
Area served | Worldwide |
Key people |
|
| Parent | Absolute Sports Pvt Ltd [2] |
| Website | www |
Sportskeeda is an Indian sports news and esports company established in 2009 and headquartered in Bangalore, India.[3] It features, news, articles and live coverage of sports such as cricket, association football, American football, basketball, mixed martial arts, and professional wrestling.[4][5]
History
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.[6]
In July 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.[7]
In FY2021, the company recorded a profit of ₹20.28 crore (US$2.4 million) grew from ₹15 crore (US$1.8 million) to ₹35.28 crore (US$4.2 million) as compared to the last year.[8]
In November 2022, Porush Jain resigned as director and CEO of the company and appointed Ajay Pratap Singh.[9] In FY2022, the company recorded a turnover of ₹80.65 crore (US$9.7 million) from ₹35.28 crore (US$4.2 million) as compared to last year.[8]
Funding and acquisition
In 2011, an early stage venture capital funding company Seedfund invested ₹2.8 crore. This helped Sportskeeda to scale up their operations.[10]
In August 2019, a gaming firm Nazara Technologies funded ₹44 crore with 67% stake, valuing it at ₹65 crore.[11][12]
In March 2023, Sportskeeda 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).[13][14] 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.[15][16][17]
Partnership
In March 2022, the company partnered with Dream11 to produce 8 long-format videos showcasing 8 unsung heroes who have made significant contributions to cricket and supporting many people.[18][19]
Awards and recognition
In August 2021, the company won Gold award in the News Coverage Platform (Esports And Gaming) category organized by Gamexx 2021.[20]
See also
References
- ^ "Sportskeeda appoints Anirudh Kumar as chief strategy officer". Brand Equity The Economics Times. 22 March 2022. Retrieved 12 June 2023.
- ^ "Nazara's Sportskeeda buys NFL-focused platform Pro Football Network for $1.8 million". The Economic Times. 22 March 2022. Retrieved 6 June 2023.
- ^ "Rakesh Jhunjhunwala-backed Nazara Tech now a leading gaming company". The Economic Times. 22 March 2023.
Sportskeeda in esports and esports media
- ^ SN, Vikas (16 November 2022). "Nazara's Sportskeeda appoints Ajay Pratap Singh as CEO; founder Porush Jain resigns". Moneycontrol. Retrieved 6 June 2023.
- ^ M. Sriram (21 August 2019). "Nazara Technologies Wednesday said it has acquired a majority stake in sports content website Sportskeeda.com". Hindustan Times.
- ^ Ghosh, Aparna (20 August 2014). "Online retail: Counting on sports lovers". Mint. Retrieved 6 June 2023.
- ^ Sabherwal, Simran (11 September 2020). "We want to be lean, yet grow fast: Porush Jain, Sportskeeda - Exchange4media". Exchange4media. Retrieved 6 June 2023.
- ^ a b "Nazara to acquire additional 6.05% stake in Sportskeeda for Rs 20 crore - Exchange4media". Exchange4media. Retrieved 12 June 2023.
- ^ Thathoo, Chetan (17 November 2022). "Nazara-Backed Sportskeeda Founder Porush Jain Resigns As CEO". Inc42 Media. Retrieved 6 June 2023.
- ^ "A social way of covering sports". www.thehindubusinessline.com. 23 September 2012. Retrieved 6 June 2023.
- ^ "Gaming firm Nazara acquires Sportskeeda". Hindustan Times. 21 August 2019. Retrieved 6 June 2023.
- ^ Malik, Yuvraj (21 August 2019). "Nazara Technologies acquires 67% stake in Sportskeeda for Rs 44 cr". Business Standard. Retrieved 6 June 2023.
- ^ Gupta, Aryaman (22 March 2023). "Nazara arm Sportskeeda pays $1.8 mn for 73.27% stake in NFL-focused US firm". Business Standard. Retrieved 6 June 2023.
- ^ Das, Sudip (23 March 2023). "Buzzing Stocks | Hero MotoCorp, Hindustan Aeronautics, HG Infra Engineering, and others in the news today". Moneycontrol. Retrieved 6 June 2023.
- ^ Jomy Jos Pullokaran (22 March 2023). "Nazara arm Sportskeeda acquires 73 percent stake in NFL-focused US website". CNBC TV18.
Sportskeeda Inc acquired the majority stake in Pro Football Network LLC for $1.817 million. The investment is part of Sportskeeda's growth strategy in the US digital sports media market.
- ^ Deb, Aparna (23 March 2023). "Stocks to Watch: HAL, Hero MotoCorp, NBCC, Nazara Tech, BHEL, GAIL, and Others". News18. Retrieved 6 June 2023.
- ^ Tapanjana Rudra (23 March 2023). "Nazara's Sportskeeda buys NFL-focused platform Pro Football Network for 1.8 million". ET Now.
- ^ Mahadik, Gauresh (14 May 2022). "Dream11 collaborates with Sportskeeda to release new 'Dream Big' stories". SportsMint Media. Retrieved 12 June 2023.
- ^ "Dream11 partners with Sportskeeda to launch new 'Dream Big' stories". afaqs!. 13 May 2022. Retrieved 12 June 2023.
- ^ "GAMEXX AWARDS 2021 - Real Awards for Real Achiever's". Gamexx Awards 2021 Initiative by Adgully. Retrieved 6 June 2023.