Mumbai-based gaming company Nazara Technologiesthrough its wholly-owned subsidiary Nazara Dubai FZ, has acquired a 15.86% stake in GetStan Technologies Pte. Ltd (STAN), a Electronic sports community platform, for Rs 18.4 crore in a secondary cash transaction.
What does STAN do?
Founded by Parth Chadha, Nauman Mulla and Rahul Singh, STAN is a leading gaming community platform dedicated to creating a vibrant ecosystem for players and creators.
As of July 2024, STAN’s user base has exceeded 12 million, with more than 80% of them coming from organic and referral-based channels.
The platform has demonstrated strong monetization, with over 500,000 paying users and a high 30-day retention rate of over 60%.
Their mobile app has gained significant traction, consistently ranking in the top 51 on the Google Play Store with a 4.7 star rating over the past year.
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Comments from the leaders
“Nazara’s investment in STAN strengthens our position in the growing gaming and esports landscape. STAN’s mobile-first approach and focus on community engagement align perfectly with our vision of becoming 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.
Parth Chadha, CEO of STAN, said: “Nazara’s investment will be a huge boost for STAN, accelerating our journey to redefine gaming and esports, communities and help us achieve our vision.”
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