iWorld
Netflix acquires video game creator Night School Studio
Mumbai: Netflix has made its first big move in expanding its gaming portfolio with the acquisition of Night School Studio. The company has also launched a trio of casual mobile games in select European markets, according to a report by TechCrunch.
“We’ll continue working with developers around the world and hiring the best talent in the industry to deliver a great collection of exclusive games designed for every kind of gamer and any level of play,” noted Netflix vice president – game development Mike Verdu. “Like our shows and films, these games will all be included as part of your Netflix membership — all with no ads and no in-app purchases.”
Founded by Sean Krankel and Adam Hines in 2014, video game creator Night School Studio is best known for its critically acclaimed debut game “Oxenfree.”
“Netflix gives film, TV, and now game makers an unprecedented canvas to create and deliver excellent entertainment to millions of people,” said Night School Studio’s Krankel. “Our explorations in narrative gameplay and Netflix’s track record of supporting diverse storytellers was such a natural pairing. It felt like both teams came to this conclusion instinctively.”
Netflix has mentioned its plans to enter the gaming industry amidst intense competition in the streaming business with competitors gaining subscribers rapidly. Netflix launched its first gaming title based on the “Stranger Things” franchise in Poland. These titles became available via a ‘Games’ tab within the Netflix app to subscribers.
The company launched three casual games including “Shooting Hoops,” “Teeter Up” and “Card Blast” to Netflix members in Italy and Spain. Subscribers from Spain and Italy will gain access to these trio of gaming and the two existing “Stranger Things” titles that have already been released.
Netflix plans to launch games in other markets including the US in the near future. It began with Poland as an initial test market because the country has an active mobile gaming audience that made it a good fit for early feedback.
iWorld
Jio IPO faces delay as India yet to clear listing rule changes
Proposed rule change allows mega IPOs to float just 2.5 per cent
MUMBAI: The Indian government’s delay in formalising changes to listing rules may derail the targeted timeline for the initial public offering (IPO) of Jio Platforms, the digital arm of Reliance Industries controlled by billionaire Mukesh Ambani.
According to media reports, Reliance is awaiting formal notification of regulatory amendments before appointing investment bankers and filing a draft IPO prospectus. The company is now aiming to submit the draft prospectus before April, depending on when the government issues the notification.
Jio, which owns India’s largest wireless operator, is widely seen as one of the crown jewels of Ambani’s business empire. Its listing, the first public offering of a major Reliance unit in nearly two decades, could become the country’s biggest ever IPO.
Investment bankers have proposed a valuation of as much as $170 billion for the company. Even the minimum stake sale could raise roughly $4.3 billion, potentially placing Jio among India’s most valuable listed companies.
Ambani had earlier said that Reliance was targeting a listing of Jio in the first half of 2026, a plan first outlined in 2019 with a five-year timeline. In 2020, global technology groups Meta Platforms and Alphabet invested more than $10 billion combined in the company.
The delay stems from pending regulatory changes approved by the Securities and Exchange Board of India in September. The amendments allow companies with a post-issue market capitalisation exceeding Rs 5 trillion (about $55 billion) to float as little as 2.5 per cent of equity in an IPO, compared with the current 5 per cent minimum.
Such changes are expected to enable mega listings, including potential offerings by Jio and the National Stock Exchange of India. However, the reforms still require formal notification from the government.
Meanwhile, the National Stock Exchange is moving ahead with plans to raise as much as $2.5 billion through its own IPO and has recently invited banks to pitch for roles in the offering.
