Nazara Technologies Acquires Fusebox Games for $27.2 Million

- Nazara Technologies announced its plan to acquire the remaining 48.42% stake in Kiddopia from founders Anupam and Anshu Dhanuka for Rs 300 crore. - This acquisition will mark one of the largest exits for founders in the gaming space in recent years, valuing Kiddopia at Rs 620 crore. - The payment will be made in three tranches, with the largest amount of Rs 225 crore already approved by shareholders. - Despite flat revenues, Kiddopia remains significant for Nazara, contributing close to 20% of revenue and over 50% of profit in FY24. - Kiddopia is a subscription-based app for children aged 2-7, with most of its income coming from the US. Source: The Arc

Rs. 5 crore/150,000 gamers = 333 rupees per gamer 😂 Most gamers would have actually earned less than that even because their clan members apparently earned 3k USD on average. Which means 70-80% money gone to a few people and rest earning nothing in the name of web3 games. I don't know why Nazara is a profitable company, all the games they work on are shit. Indigg is even more of a shit show destined to die.

Byjus acquired icebox diamonds Inc in November 2022. Why? Thought it was an edtec company. Why diamonds?

https://entrackr.com/2023/09/rario-burns-through-120-mn-in-15-months-future-looks-uncertain/ Tell me no corruption was involved in this ;)

https://www.livemint.com/companies/news/zepto-funding-665-mln-at-3-6-bln-valuation-ipo-next-year-blinkit-instamart-zomato-swiggy-flipkart-quick-commerce-11718939449690.html

Absolutely sad to see the state of the startups, most of them. I am a founder myself, and this is a post with equal disappointment with myself as much as it is for anyone else who relates. Look at all these companies that have raised shit tons of capital, and now make a fraction of money that has been invested in them. The raised money is spent on outsized, non business sense making acquisition costs, only to keep repeating it till the tap runs dry. Then when all stakeholders get bored, the service quality plummets, the employees are fired and whole sectors are admonished as being bad. But, my question is, which sector where large sums of money was invested in early days have come out with flying colours. Fucking nothing ! Edtech, proptech, agritech, ecommerce etc. etc. etc. kuch bhi nahi. Is there any sector where a startup which has raised in the 100s of millions in the first 5 years have actually built a sustainable business at any scale ? Then scaling down, isse acha, scale slowly. The worst part of this whole drama, is pushing the innovation wheel backward and destroying customer sentiment. Isse acha, raise less money inititally, build slowly, and only scale when the market is ready. Artifical growth makes no sense, unless you have a treasure chest that shall never run out. Even in that case, spend the money on assets and not on random acquisition costs, direct or indirect. As founders, let's do better, nahi ?