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 ($52.78K USD). This acquisition provided an expedited exit for SeedFund — Sportskeeda’s early investor. While 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.
