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Inside India’s top gaming company 👾

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Tue, Apr 27, 2021 06:06 AM

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More: ByteDance quashes IPO rumors, and BigBasket’s data leak Daily Newsletter Hello {NAME} Why

More: ByteDance quashes IPO rumors, and BigBasket’s data leak [Read from your browser]( Daily Newsletter Hello {NAME} Why do we fall? So we can learn to pick ourselves up. (Batman fans might have noticed the reference). It was the sentiments behind this line that fueled the growth of Nazara, India’s top gaming company today. Journalist Nikita Puri’s curiosity behind the firm’s success led her to chart its evolution: why it made non-gaming pivots for survival and how these worked in its favor. Today we look at: - How Nazara became a top dog in [India’s gaming world]( - A celebrity video platform’s fresh backing from IPG’s Octagon - Other newsy highlights such as BigBasket’s data leak and a new fundraise for upGrad  ---------------------------------------------------------------  PREMIUM SUMMARY  Game on! Indian game publisher and distributor Nazara Technologies recently went public with an oversubscribed IPO that places its value just north of US$600 million. The firm’s success lies in its adaptability - today, its offerings span categories like edutainment, real-money games, and fantasy sports, among others. - Early setbacks: After realizing he didn’t want to join his family’s textile business, avid gamer Nitish Mittersain founded Nazara in 1999. Unfortunately, his dream of raising a couple million bucks back then was upended when the dot-com bubble popped. - Getting ahead: Nazara’s moves have drawn comparisons with Tencent Games’ playbook: both companies have used mergers and acquisitions (M&A) to get ahead, albeit on a different scale. (The Indian firm acquired just five companies in the last five years, whereas Tencent Games made 31 M&A deals last year alone.) - Well-played moves: Having placed US$41.3 million into the Indian gaming ecosystem since 2016, Nazara is the most aggressive investor in the space. Its IPO has proved hefty returns for backers too: WestBridge Capital backed the company for US$3 million and pocketed some US$134 million following the Indian firm’s exit in January. Read more: [Near-deaths, pivots, and an IPO: the evolution of India’s top gaming company](  ---------------------------------------------------------------  STARTUP SPOTLIGHT The stars have aligned [Singapore-based celebrity video platform Authentic Celebrity Experiences (ACE) has a new stakeholder]( talent management agency Octagon, which is owned by global advertising firm Interpublic Group (IPG). However, no figures were disclosed surrounding the development. - Fanfare: ACE was launched in 2020 and allows fans to access exclusive content like personalized video messages from their favorite celebrities for a fee. - Hall of fame: The partnership will leverage the over 400 active influencers and celebrities on ACE’s website, with plans to eventually include talent from sports and entertainment categories spanning basketball, football, and K-pop, among others. - Crafting plans: To fuel this growth, Octagon’s vice president, David Schwab, will join ACE’s advisory board.  ---------------------------------------------------------------  DEEP DIVES We answer your questions on Grab’s spectacular valuation We all know that Southeast Asian super app Grab is going public at a valuation of US$40 billion. But behind this announcement, there is a lot of jargon. And even if you’ve read Grab’s investor pitch, it’s likely that you have more questions. So in this [episode of Deep Dives]( we broke down all the details and answered all your burning questions including: - Who the heck is Altimeter - the company Grab is going public with - and why is it a known name in the technology industry? - What will Altimeter get out of this deal? - How did Grab get its US$40 billion valuation? How does this valuation compare against Sea’s, Uber’s, and Goto’s when they went public. - What is Grab's business strategy? [Check out this video]( today and learn about the key players, valuation breakdown, and financial projections behind the world’s largest special purpose acquisition company (SPAC) merger.  ---------------------------------------------------------------  QUICK BYTES  1️⃣ Another day, another data leak India’s largest online food and grocery delivery store, BigBasket, [has had its database compromised]( - with some 20 million of its users’ personal information leaked onto a well-known cybercrime forum. This comes shortly after Tata Group announced plans to buy an over 60% stake in BigBasket, which would bring the grocery service’s valuation to between US$1.8 billion and US$2 billion.  2️⃣ StashAway’s fresh bump Singapore-based robo-advisor [StashAway has raised US$25 million in its series D round]( of funding, led by Sequoia Capital India. In its last round, the startup secured US$16 million to bankroll [several country launches](.  3️⃣ Instant upGrad(e) Indian edtech startup upGrad [has raised US$120 million from Singapore’s Temasek]( in its first external fundraising round, taking its estimated post-money valuation to between US$575 million and US$675 million.  4️⃣ Growing stanzas [Indian accommodations startup Stanza Living has secured US$100 million]( from VC firm Alpha Wave, which is managed by asset manager Falcon Edge. With this, Falcon Edge now holds the majority share in the firm at 27.8%.  5️⃣ So much for a ByteDance IPO ByteDance, which owns popular short-video platform TikTok, [says it has no plans to go public despite the rumors](. In late March, Reuters reported that the company was considering a possible float of Douyin - the Chinese version of TikTok - in New York or Hong Kong.  ---------------------------------------------------------------  EVENTS HAPPENING - *Live event* Decoding ESOPs in Southeast Asia on April 29 Startups talk a lot about employee stock option plans (ESOPs). But what exactly are they, how should a founder structure one, and what are the implications on shareholder equity? Join us in this Live event where Ravi Ravulaparthi, CEO and co-founder of Qapita, will answer these questions as well as discuss other topics including the state of ESOP culture in Southeast Asia, the different types of ESOP models, and many more. [RSVP today]( for free as a Live or Core subscriber. - Fintech CXO Roundtable on May 4 Sit down with Noah Pepper, APAC business lead at Stripe, and other like-minded C-level executives to discuss the building and scaling of a fintech startup. Look forward to in-depth discussions on topics like finding product-market fit, balancing product needs with business outcomes, recruiting the right talent, and many more. [Register to get your seat today](. - The intersection of user experience with user security on May 6 As companies increasingly conduct their businesses online, more and more information becomes vulnerable to cyber threats. But how can a tech startup ensure that its data is safe without compromising on usability and business goals? We have invited the region’s leading tech companies to discover just how their companies manage cybersecurity attacks and align security measures with business outcomes. [RSVP for free today](. - AWS Summit Online ASEAN, May 18 and 19 Join us and learn how to accelerate your business and build for the future. Choose from the summit’s 91 sessions that cover business and technical content; visit Startup Central and learn about AWS programs for startups,; take a technical deep dive into architecture and coding at the DevOps and Developer Community tracks; and discover the best practices in designing, deploying, and operating your infrastructure and applications. [Register for free today]( - Tech in Asia Pitch Night on June 22 Are you a startup founder looking to get some feedback from experts and investors? Then join us this June as we invite six startups from across Southeast Asia to pitch to Charles Ferguson, Asia-Pacific general manager at Globalization Partners, as well as an audience of founders, investors, and professionals from the region’s top tech companies. [Sign up today]( to get your pitching slot!  ---------------------------------------------------------------  WHO'S HIRING - [Sales Partnership / Business Development]( at SELLinALL (Singapore, Singapore) - [Product Manager]( at Bintango (Jakarta, Indonesia) - [Talent Acquisition Intern]( at Rata (Indonesia Bulk Terminal, Indonesia)  ---------------------------------------------------------------  SHARE WITH YOUR FRIEND If you're feeling generous today, help us share this newsletter with your friends and coworkers so that they can keep up with what’s going on in the region’s tech scene. Feel free to [drop us some feedback]( if our newsletter today got you feeling smarter (or if it didn’t).  ---------------------------------------------------------------  Thanks for reading! Tech in Asia’s newsletters are handcrafted daily with love - and sometimes powered by good kopi (or tea). [ADVERTISE]( | [SUBSCRIBE]( | [HIRE]( | [FIND JOBS]( P.S. Don't miss out on the biggest tech news and analysis. Add newsletter@techinasia.com to your address book, contacts, or safe sender list. Or simply move us into your inbox. Was this forwarded to you? You can read this everyday when you sign up [here](. Don't want to receive these emails anymore? [Unsubscribe](. ---------------------------------------------------------------  Today’s edition is written by Rebecca Liew, with contributions from Nikita Puri and Deepti Sri. It’s edited by Jaclyn Tiu. Copyright © 2021 Tech in Asia, All rights reserved. 51 Bras Basah Rd, #05-5061, Singapore 189554

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