Nazara Technologies buys minority stake in real-money quiz app CrimzonCode
IPO-bound Nazara Technologies Limited has acquired a 27.42% stake in Jatia Educ꧑ation Private Limited,🐼 the company that operates real money skill-based quiz app CrimzonCode for an undisclosed sum.
CrimzonCode operates Top Quiz, a quizzing game that challenges playe💫rs on various questions relating to history, sports, entertainment💖, current affairs etc.
The app allows players to stake real money for entering contests. The T🌜op Quiz app has over 5 lakh users and more than 1 lakh active monthly users.
Apart from Top Quiz, Jatia Education also operates an educational🙈 💯app for CBSE, ICSE and IGCSE students called Brainnr.
As part of the investment, which is structured as a publishing deal, Nazara has inked a multi-year and multi-game partnershi🍌p to develop uni🎃que mobile gaming experiences for users across the globe through Top Quiz.
Commenting on the acquisition, Nazara Technologies CEO Manish Agarwal said, “Quizzing has been very popular with Indians and is a source of clean fun and a booster forꦏ self- pride, cutting across age groups; gender and s🅺ocio-economic class. We believe that the team at CrimzonCode has got an endorsement from their users in form of high level of engagement and that this opportunity to earn real money combined with the fun of quizzing, is expected to set the Indian market abuzz.”
Devavrat Jatia, founder of CrimzonCode noted, “Quizzing combined with real money has immense potential. We believe that having the backing of Nazara as an investor and p🀅ublisher will provide us with a springboard to launch real money quiz in 61 countries across the emerging markets where Nazara had its presence, as on Septeꦫmber 30, 2017.”
Nazara Technologies has been on an acquisition spree of late. Last month, the company acquired maj൩ority stake in Kenyan real-mon🌼ey betting company NZ World Kenya Ltd.
The company has made various investments in companies like Nex꧅tWave Multimedia, MasterMind Sports,♍ Truly Social, NODWIN Gaming, Moong Labs and HalaPlay.
Nazara has also indicated that it is interested in entering starting rไeal-money poker, rummy and teenpatti games in India i꧋n the near future.
