Nazara invests $2.2 million in gaming community platform STAN
| Date | Type | Companies Involved | Size |
|---|---|---|---|
| Sep 11, 2024 | investment | Nazara | $2.2m |
- STAN has gained industry recognition by connecting gamers and supporting content creators
Nazara has acquired a 15.86% stake in India's esports community platform STAN for INR 18.4 crore ($2.2 million) through an all-cash secondary transaction.
The Indian esports and media company pulled off the deal through its subsidiary Nazara Dubai FZ. STAN has gained industry recognition by connecting gamers and supporting content creators.
Founded by Parth Chadha, Nauman Mulla, and Rahul Singh, STAN has over 12 million users as of July 2024, boasts 500,000 paying users and a 30-day retention rate exceeding 60%.
Redefining gaming and esports
Nazara CEO and founder Nitish Mittersain said: “STAN’s mobile-first approach and focus on community engagement align perfectly with our vision to become a leading player in the global esports ecosystem."
“This acquisition allows us to expand our reach while empowering content creators and fostering a stronger gaming community." Said Mittersain.
STAN CEO Parth Chadha added: “Nazara’s investment will be a major boost for STAN, fast-tracking our journey to redefine gaming and esports communities and help us achieve our vision."
Nazara also recently acquired Fusebox Games for $27.2 million and has partnered with the government of Telangana to launch an AI centre of excellence.
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