Fund raising in process to bolster growth strategy
Sportskeeda, the new age sports and esports media brand from Bengaluru, has established a subsidiary in the US to generate organic and inorganic growth over the next 3-4 years for which it is in the process of raising funds.
Sportskeeda COO Ajay Pratap Singh said, “The US is a big market for us along with India. We want to be closer to our stakeholders coming from this (US) region and to make that happen, we have set up a Sportskeeda Inc.
“Over 12-18 months, we shall invest over US$4 million in scaling our operations, for which, we intend to hire close to 20 people to manage and lead verticals such as content, sales, marketing, and public relations.”
The company is looking at aggressive organic and inorganic growth levers to continue growing at a 100% Y-o-Y rate for the next 3-4 years and is in the process of raising funds to bolster this strategy.
“Over 40% of our users now come from the US and we are competing, neck-to-neck with the leading sports media houses on their own turf,” Sportskeeda Inc Founder and CEO Porush Jain said on 27 May 2022.
“We are extremely confident that Sportskeeda has the right mojo to win. The company has consistently grown more than 100% Y-o-Y in the last 2 years and we expect this trend to continue for at least the next 3-4 years.
“Decentralized teams around the globe have helped us provide local and relevant content to hardcore fans across the world.
“Our goal now is to become the number one destination for all sports fans worldwide. In addition to our certification as a ‘Great Place to Work,’ we are building a culture of ownership, freedom, continuous learning and trying new things without any fear.
“This has helped our 100% remote teams to bring excitement for fans and themselves, every day,” he said.
Sportskeeda witnessed growth in its engagement KPI’s across multiple newer sports verticals like Esports and Gaming, MMA, NBA and NFL along with sustained growth in already established verticals like Wrestling and Cricket. This has been a result of a playbook replication model that the company has adopted which has resulted in achieving the desired growth KPIs, at a larger scale.
Moreover, the brand is experimenting with newer content IPs in the form of videos, fantasy tips, etc, and also building its playbook for inorganic growth.
Sportskeeda is now among the Top 10 sports media websites in the US as per March 2022 Comscore rankings and plans to become the category leader in the years to come. Additionally, the brand has also achieved the No. 1 spot in Comscore’s India rankings for the month of January 2022.
Sportskeeda’s revenue for FY 22 increased by over 100%, reaching Rs.79.2 crore from Rs.34.4 crore FY 21. The brand has also registered a phenomenal 5x user growth with its monthly average users increasing from 15 million to 80 million in the last 2 years.
Established in 2009, Sportskeeda is a global sports content platform that covers the world’s biggest sports and esports subjects and serves over 100 million fans every month. fiinews.com
