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April 06, 2007

The Nazara Story

Economic Times has a profile of Nitish Mittersain, Founder & CEO of Mobile VAS firm Nazara Technologies.
The first area that the company forayed into was online gaming, through a gaming portal A natural choice given that he was and remains an avid gamer. However, that was just the beginning and Nitish was still on the look out for the big idea which could stand the test of time. He soon spotted one in the form of the wireless space. He made his move quickly and Nazara entered the wireless entertainment sector, which was on an upswing.

...His vision would soon pay off in that both the wireless sector took off and content was fast becoming king. Recalls Nitish, “Fiscal prudence paid off. We spent next three years building relationship with wireless customers while keeping our costs low.” Soon the company could boast of a respectable performance in what was a difficult space. Nazara had made modest profits for five years and simultaneously built up good relations with most of the major telecom operators. Given the boom in the wireless sector and the company’s unique position in that space investors began to want a piece of the action.

...Having logged revenues of Rs 15 crore for the year ended on March 2007, Nazara Technologies is now aiming to close the current fiscal at Rs 35 crore.

Arun Natarajan is the Founder & CEO of Venture Intelligence, the leading provider of information and networking services to the private equity and venture capital ecosystem in India. View free samples of Venture Intelligence newsletters and reports.