Indians are mad for online mobile gaming. As per the reports India has the largest number of online gaming players. The Indian gaming industry is valued at $3.02 billion in 2023. And if this trend continues Indian gaming industry will touch the record value to $6.25 billion in next five years. In this article will you know the Nazara success story.
Nazara Is one of the most leading online gaming and sports companies of India.Many famous games and series are launched by Nazara.
So let’s get the deep insight of Nazara inside story
Company Overview
Nazara Technologies was founded by Nitish Mittersain in 1999 and is based in Mumbai. The company is a mobile gaming and sports media platform. The company provides a wide range of gaming products and e-sports. In 2018, the company planned to go public on NSE and BSE but the IPO was halted due to some market downturn issues.
Later, in 2021 Nazara got listed on the Indian stock exchanges.
Founder’s Wall
Nitish Mittersain founded Nazara and it is the only gaming listed company in India. Nitesh belongs to a business family where his family business is textile cotton mill. But, Nitish was very fond of gaming and sports. From the age of 7 years, he was interested in coding basic games. When he was just 6 years old, his father bought him a ZX Spectrum. He was so much fascinated with games from his childhood, later he went to Mumbai for his college and after that the plan for Nazara was introduced. He launched Nazara when he was in his first year of college.
Nazara Products
Nazara has launched varieties of gaming series and e-sports for Indian gaming lovers. Company has following successful mobile games launched in India:
- Motu Patlu Games: Indian kids cartoon based online mobile games.
- Chhota Bheem: Indian one of the most watched and loved cartoon series based games.
- World Championship 2: The most played cricket games on play store.
Apart from these Nazara has launched many other successful games and e-sports.
Company’s Business Model
Nazara business model works on the basis of subscriptions basis and also a free model.
As a part of the subscription based model Nazara charges a premium for its gaming experience from the users with daily, weekly and monthly subscriptions plans. The company offers more than 1050 gaming options to the gamers. The subscription plans charge a reasonable price based on the trend of Indian gaming markets.
But not all the gamers are willing to pay for the gaming and esports on the internet. Therefore, the company also offers a limited games option for freemium based gamers. Further, the company also aims to increase its presence in the freemium segment of the industry as well to capture the market.
Nazara Financials
Nazara technology is listed on the Indian stock exchanges NSE and BSE. The company has a market value of around Rs. 5800 crore. The share is trading at Rs. 875 around.
In 2023 the company reported Rs. 23 crore revenue with 15% increase in the revenue from last year.
Total EBIT of the company was in 2023. The company has booked a loss of 24 crore in 2023 financial year. EPS was -3.67 in 2023.
Success story
Nazara operates in more than 60+ countries and has more than 125 million monthly users. Its mobile games have more than millions of downloads on the play store. Online games like Chotta Bheem , Oggy series, and Motu Patlu are leading mobile games on the play store.
Awards and Achievement
Nazara’s subsidiary Sportskeeda has been awarded a Gold award in Aug 2021.
Nazara has won Maddies Silver Award in 2016 for innovation in the gaming industry.
Joined All India gaming federation as a principal member.
Fundings
Nazara Technologies has raised $133 million till date in 12 rounds of funding.
The latest funding round was closed in Sept 2023.
2023
- Company has raised $12.1 million From Kamath associates and NK squared.
- In June 2023, the company raised an undisclosed amount.
2021
- Nazara has raised $42.3 million from Plutus Wealth Management and GIC in Oct 2021.
- In the same year the company raised $13.7 million in its Series C round.
2019
- In the Series B round the company has raised $12 million from Hornbill capital and Instant growth.
2018
- Nazara has raised $3.14 million from Turtle Entertainment in Feb 2018.
2017
- In this venture round it has raised $51 million from IIFL Asset Management.
2013
- Company has raised $0.8 million
2007
- COmpany has raised $7 million from Sequoia Capital.
Subsidiaries and Acquisitions
Nazara has acquired and has invested in many startups and companies since its inception.
Sportskeeda
My Gamma
Paper Boat Apps
Datawrkz
Openplay
SportsUnity
NODWIN Gaming
Publish Me: A game marketing in Turkey.
Planet Superheroes
SNAX games Ltd
Hala Play Technologies
Djuzz
Major Competitors
The Indian Gaming industry has many significant players involved in offering games and esports championships.
- Playsimple
- Pickme
- Spireon
- Flixy Games
- Juego Studio
- Infostretch
- Workboard and others
Challenges
Initially when Nazara was launched India’s gaming industry was not that much developed and popular. The market size was niche and was not that attractive. The company was launched when there was no robust internet services and gaming devices were available in the market.
In 2018, the company planned to go public on NSE and BSE but the IPO was halted due to some market downturn.
Later, in 2021 Nazara got listed on the Indian stock exchanges.
Further, due to the heavy and tough competition in the industry the company has to significantly strive to keep its stand in the industry and offer the best experience and products to the gamers.
Future Plans
Nazara tech aims at raising more funds from investors by issuance of equity shares or securities on preferential basis. The plans for additional funding was discussed in the board meeting on 7th Sept 23. Further, the company also looks to make its position strong in the freemium business model.
Sportskeeda
In 2019, Nazara acquired 67% in this sports media website for Rs 44 crore at a valuation of Rs 65 crore. Sportskeeda is an esports and global sports media based in Bangalore.
The company was founded in 2016 by Porush Jain. Sportskeeda later on partnered with Dream 11 to produce videos on cricket and other support.
Conclusion
Nazara, the only gaming listed company in India is also the biggest gaming company. The company has overcome the challenges it had faced initially. Today, the company leads the gaming industry from the front and is growing at much higher rates.
Disclaimer: This article is for your information purpose. We do not promote any products or the company through this article.
