Prediction Held up
Mittersain: In-app purchases will dominate Indian gaming revenue by 2026
“So I think in the next three to five years, you will see in-app being the predominant source of revenues for gaming in India.”
Insight
Mittersain: Bootstrapping via slow profit accumulation is no longer the ideal strategy
“So I think strategies may need to change and just trying to run a profitable business today may not be good enough. If the opportunity to scale and create a massive business exists, it was you have investors who are willing to back you. And therefore I think w…”
Prediction Not checkable as stated
Mittersain: Indian tech company IPOs will accelerate significantly by 2024
“And in the next two, three years, you will see that accelerate significantly. So I think that bell has been rung, and now you're going to see a long queue of quality companies. And also a lot of groundwork has happened, right, over the last decade. Investors h…”
Disclosure
Mittersain: Nazara gives acquired companies 100% operational autonomy
“The structure that we follow in the friends of Nazara is where we give a hundred percent operational freedom to, you know, the investee companies. And their original founders and management teams should run it as if you know, they own a hundred percent of the …”
Prediction Not checkable as stated
Mittersain: PlaySimple exit will kickstart a boom in Indian gaming startups
“Similarly, I think the Play Simple deal will show a lot of Indian entrepreneurs That gaming is coming of age in India. Also, Indian gaming companies can tackle global opportunities, scale globally, and also create immense value over a fairly short period of ti…”
Insight
Mittersain: Resolving disputes face-to-face beats fighting to preserve mental energy
“So it's always better to meet up face to face, sort the problem out.
Even if you need to leave something on the table, leave it, but move on.
Because the amount of time you will save on that negative energy and convert it into positive energy will make a world…”
Disclosure
Mittersain: Nazara avoids entering contracts with large future commitments
“For example, we rarely enter into contracts that have large future commitments that we have made.
Because
We know what we can commit today, right?
In present moment, we don't know what we can commit three years later.
So that's kind of a philosophy that we ha…”
Assertion Supported
Mittersain: WestBridge Capital invested $3M total across 2005 and 2007
“Westbridge Capital had invested in 2005 and 2007 small amounts of money, 1.5 million dollars each. It raised a total of three million dollars, and by then the company had become profitable.”
Assertion Supported
Mittersain: Nazara Accumulated ₹200–250 Crore in Profits from 2007 to 2015
“So from 2007 to about 2015, we raised, I mean, not raised, we kind of accumulated profits of about 202 150 crores. And hadn't raised any more capital.”
Disclosure
Mittersain details Nazara's portfolio acquisitions across gaming verticals
“We acquired Nodwin Gaming, which is the leader in e-sports in India. A majority stake in that company. We acquired Nextwave Multimedia, which is the producers of World Cricket Championship. Then later on, we did Paperboat Apps, which have extremely popular kit…”
Assertion Supported
Mittersain: Nazara generated 460 crore INR in FY21 revenue
“Now in 2021, we've done, I mean, we closed this year with four 60 crores in revenue which was a good growth over the previous year as well.”
Assertion Supported
Mittersain: Nazara holds 480 crore INR in deployable cash reserves
“The company today has close to 480 crores of reserves that we can deploy to invest in companies.”
Assertion Supported
Mittersain: Nazara is India's only listed gaming company
“Now also one big advantage we have is that we are the only listed gaming company today in our market.”
Assertion Supported
Mittersain: Nazara Technologies is valued at around 5,000 crores post-IPO
“We today priced at about 5000 crores.”
Assertion Not checkable as stated
Mittersain: Rakesh Jhunjhunwala invested in Nazara after a single meeting
“And he really, we just had one meeting before he decided to invest in the company.”
Assertion Supported
Mittersain: Jhunjhunwala sold zero Nazara shares in the IPO
“No, he hasn't. He hasn't sold any shares, and at least in my conversations with him, he generally says, you know, he's invested for the long run with a seven to 10 years you know, annual, because that's the kind of trend he really looks at in terms of gaming b…”
Assertion Supported
Mittersain: Nazara has faced almost no litigation over two decades
“Nazara in its two decades journey has had
Very little to no litigation, either by us or on us, right?
And in over two periods of two decades of journey, that's a long period of time.”
Disclosure
Mittersain: Raised 3 to 4 crores from family to launch Nazara
“First from my parents helped fund it, then from friends and family. So I put in three, four pros right at the start to get the business started in the early years.”
Opinion
Mittersain: Nazara launched roughly a decade too early for Indian gaming
“Now I think, you know, we probably in 1908, 1909 when we started from India gaming perspective, we were maybe a decade too early. You didn't have proper internet. You didn't have the devices.”
