New Delhi, India – Gaming and sports media company Nazara Technologies has acquired a 15.86% stake in Stan, a blockchain-based e-sport fan engagement startup, for an aggregate cash consideration of up to $2.2 million. This acquisition strengthens Nazara’s position in the gaming and e-sports landscape, as per a stock exchange filing.
About Stan
Founded in 2022 by Chadha, Rahul Singh, Nauman Mulla, and Shubham Gupta, Stan provides a web3-based platform for creators to build, monetize communities and allow users to engage with their favorite gaming creators or celebrities through digital collectibles, chat or audio rooms, and exclusive celebrity communities.
Recent Funding Rounds
Stan has received significant funding in recent months, including a $2.7 million round in January this year from Aptos Labs, Maelstrom Fund, and others. In May 2022, the Bengaluru-based startup raised $2.5 million in its seed round led by General Catalyst and others.
Growth and Userbase
Stan boasts a userbase of over 12 million, with a turnover of $1.8 million as of March 31, 2024.
Nazara’s Acquisition Strategy
This acquisition marks Nazara’s strategic move in the gaming and e-sports landscape. In the past few months, Nazara has made several notable deals, including the acquisition of Kiddopia’s developer Paper Boat Apps, buying IP rights of Ultimate Teen Patti, and taking over assets of DeltiasGaming.
Nazara’s Financial Performance
Nazara’s operating revenue fell 6.06% to Rs 250 crore in Q1 FY25 from Rs 266.2 crore in Q4 FY24. The e-sports segment accounted for 52.73% of the company’s total operating revenue, followed by gaming (37.11%) and ad tech (10.26%).