IPO bound Mobile gaming company Nazara Technologies Limited (Nazara) has acquired 27.42% stake in a quiz app company CrimzonCode to capitalise on real money quiz vertical. CrimzonCode owns the TopQuiz franchise, which allows players to play multiple quizzes around localized topics and stand a chance to win real money. The quizzing app was launched 6 months ago, and since then it has reportedly garnered 5,00,000 users and claims to have about 1,00,000 monthly active users engaging for over 15 minutes on the application per session. [We tried playing a quiz on the app (multiple times), but after streaming ads, it would not work and kept on crashing.] Nazara said that it will be publishing the TopQuiz app across 61 countries in emerging markets like Africa, Middle East, South East Asia, Latin America etc, as part of a multi-year partnership with CrimzonCode. Nazara's previous deals Mumbai-headquartered Nazara was founded in 2000 by Nitish Mittersain. Nazara has licensed mobile gaming rights to popular IP’s like ChhotaBheem, Royal Challengers Bangalore, Motu Patlu, Mighty Raju, Shikari Shambhu and Suppandi. Besides, it has tapped esports business in recent past in a big way. In February, Modern Times Group-owned eSports company ESL picked up a minority stake in Nazara for an undisclosed amount. ESL is the world’s largest esports company and the oldest professional esports organization that is still operational. ESL also signed a license agreement with NODWIN Gaming, in which Nazara had acquired a 55% stake in January. As part of the agreement, NODWIN Gaming will get 5-year licensing rights for…
