Cover-Credits:
AFK Gaming
Nazara, already partnered with Sportskeeda for a content syndication venture, bought a 67% stake in the sports news website in 2019, valuing the company at INR 44 Crore ($5.26M USD). This acquisition provided an expedited exit for SeedFund — Sportskeeda’s early investor. While Nazara did not disclose Sportskeeda’s turnover for that year, the company highlighted that its latest investment would add almost 25 Million monthly active users (MAUs) to its network, a green signal for what’s more to come.
Fast forward five years, Nazara and Sportskeeda have significantly expanded their presence, making substantial investments across different markets. Nazara reported that FY24 was a foundational year, as it announced a 4.3% revenue growth alongside a 16.5% EBITDA growth. The company also completed its largest fundraise to date, raising INR 950 Crore ($114M USD), its largest fundraise to date, along with its subsidiaries including Sportskeeda.
