Sportskeeda establishes an entity in US; to invest $4 million into operations

Sportskeeda, the new age sports and esports media brand, has established its 100% owned subsidiary in the US by the name of Sportskeeda Inc.

As per the company, its revenue for FY 22 increased by over 100%, reaching Rs 79.2 crore as compared to Rs 34.4 crore in FY 21. The brand also said that it has registered a phenomenal 5x user growth with its monthly average users increasing from 15 million to 80 million in the last 2 years.

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. 

Speaking on the establishment of Sportskeeda Inc, Porush Jain, Founder and CEO, Sportskeeda, said, “We are extremely confident that Sportskeeda has the right mojo to win. 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.  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.”

“Decentralised 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.”

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.

Ajay Pratap Singh, COO, Sportskeeda, 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 $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”.

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. 

Info@BestMediaInfo.com