Nazara acquires 15.8% stake in esports firm Stan for $2.2 million
Nazara Technologies has acquired a 15.86% stake in esports community platform Stan for Rs 18.4 crore ($2.2 million) in an all-cash secondary transaction.
The investment was made through Nazara's wholly-owned subsidiary, Nazara Dubai FZ.
Founded by Parth Chadha, Nauman Mulla and Rahul Singh, Stan is an esports fan engagement startup that offers a mobile-first platform, enabling gamers to connect and support content creators with various tools.
As of July 2024, Stan's user base surpassed 12 million, with over 80% of users coming through organic and referral-based channels. Currently, the platform has over 500,000 paying users.
“Nazara's investment in Stan strengthens our position in the rapidly growing gaming and esports landscape. 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 Nitish Mittersain, founder and CEO of Nazara Technologies.
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