Nazara Technologies saw its shares rise by 5.54% on Thursday, September 12, 2024, reaching an intraday high of Rs 1,019 per share. The surge follows the company’s announcement that it has acquired a 15.86% stake in esports community platform STAN for Rs 18.4 crore (approximately $2.2 million) in an all-cash secondary transaction.

STAN’s Impressive Growth and Strong User Base

STAN, founded by Parth Chadha, Nauman Mulla, and Rahul Singh, has rapidly grown as an esports platform. By July 2024, the platform’s user base exceeded 12 million, with over 80% of users acquired through organic or referral methods.

The company has demonstrated strong monetization, boasting more than 500,000 paying users and a 30-day retention rate of over 60%. STAN’s mobile app, highly rated at 4.7 stars, consistently ranks among the top 51 on the Google Play Store.

Nazara’s Vision for Global Esports Expansion

Nazara Technologies CEO, Nitish Mittersain, commented,

“This acquisition strengthens our position in the rapidly growing gaming and esports sector. STAN’s mobile-first approach and community engagement align with our vision of becoming a leading global player in the esports ecosystem.”

Nazara Technologies, a diversified gaming and sports media platform, has an extensive portfolio covering interactive gaming, esports, and gamified early learning. With a significant presence in emerging and established markets, including Africa and North America, Nazara aims to expand its reach and support content creators while building stronger gaming communities.

The acquisition is expected to enhance Nazara’s presence in the esports sector as it continues to position itself as a key player in both Indian and global markets.