Investments

Zomato acquires full-stack sports startup Fitso: Report

SportzPower Team

Jan 22, 2021 13:01

Read more about Zomato acquires full-stack sports startup Fitso: Report
Log in to post comments

MUMBAI: Foodtech major Zomato, which has been in talks to acquire full-stack sports platform Fitso since September, has reportedly closed the deal for a 100% stake in the Gurugram-based company at a price of Rs 800 million to Rs 1 billion.

This is the first acquisition by Zomato it bought out UberEats in January 2020.

“The deal has been internally announced by Zomato. Fitso’s team along with its co-founders will join Zomato,” one of the sources close to the developments told entrackr.com reports.

Jan 20, 2021 17:01

MGM Resorts withdraws $11bn offer to buy Entain

LAS VEGAS: MGM Resorts International announced Tuesday it had rescinded its offer to buy Ladbrokes-owner Entain plc, saying it does not intend to submit a revised proposal for the British firm that snubbed an $11 billion takeover approach earlier this month.

Jan 20, 2021 16:01

World Poker Tour sold to private equity firm for $78.25m

IRVINE, Calif.: Allied Esports Entertainment, Inc., a global esports entertainment company, and Element Partners, LLC, a privately-held investment vehicle, have announced a definitive agreement under which Element will acquire the company’s poker-related business and assets, including the entities comprising the World Poker Tour (WPT).

Jan 18, 2021 12:01

Nazara Technologies becomes 1st Indian gaming major to file IPO

MUMBAI: Nazara Technologies has become the first Indian gaming technology company to seek a market debut, having filed initial public offering documents with the market regulators on Friday.

Jan 15, 2021 14:01

EMIPL ups shareholding in RR to 50%+ , Fordham named grp CEO

NEW DELHI: Indian Premier League franchise Rajasthan Royals on Friday announced that their lead investor, Emerging Media IPL Limited (EMIPL), has increased its shareholding to over 50% in the IPL cricket franchise. EMIPL, which is owned and 100 per cent controlled by Manoj Badale, has successfully concluded an equity fundraise for this purpose.

Jan 15, 2021 12:01

Multi-yr deal With G2 Esports: adidas deepens gaming engagement

BERLIN-BASED ESPORTS ORGANISATION G2 Esports announced Thursday a new partnership with global sportswear brand adidas. Financial terms of the multi-year deal, which sees adidas as G2's official sports apparel provider, were not disclosed.

Jan 14, 2021 10:01

James Murdoch's Lupa Systems teams up with Uday Shankar

MUMBAI: Lupa Systems CEO James Murdoch and Uday Shankar, the former chairman and CEO of Star India and president of Walt Disney Asia Pacific, announced Thursday that they are forming a new venture to explore technology and media opportunities in emerging markets.

Jan 13, 2021 17:01

Club Bolivar is City Football Group's first partner club

LONDON: Bolivia's largest club, Club Bolivar, has joined the City Football Group family as its first partner club. Founded in 1925 and based in the world’s highest capital city, La Paz, Club Bolivar boasts 29 domestic league titles, the most of any Bolivian football club.

Jan 08, 2021 18:01

Aston Martin returns to F1 grid with Cognizant as title partner

LONDON: With anticipation building for almost 12 months and a monumental amount of work undertaken behind the scenes, Aston Martin is back in Formula One.

Jan 06, 2021 19:01

Virat, Times Group minority stakeholders in MPL parent: Report

MUMBAI: Indian cricket team captain Virat Kohli is not just the brand ambassador of Mobile Premier League (MPL), but also holds a small stake in the online gaming platform's parent company - Galactus Funware Technology Private Limited, records accessed by Indian Express show. Bengaluru-headquartered Galactus is a subsidiary of M-League Pte Ltd, a company registered in Singapore in April 2018.

Jan 06, 2021 18:01

BCCI to set Rs15bn base price bid for new IPL team: Report

MUMBAI: The BCCI is reportedly set to notify a base price of Rs 15 billion for potential suitors planning to bid for any one of the two new Indian Premier League teams that will put up for auction from the 2022 season. Which is a fair number considering that in 2018, when JSW took a 50% stake in then Delhi Daredevils (now Delhi Capitals), it was at a valuation of Rs 11 billion.

Subscribe to Investments