August 13, 2018
| On 6 months ago

PayTm’s Gamepind Entertainment has an Alibaba’s investment of $16 million

By Koustav Shaw

Gamepind Entertainment Private Limited, which is a joint venture of both One97 Communications limited and Alibaba Group is all set to take over the Indian market with its own app within the next six months.

A whopping $16 million has been added at the company’s disposal for its funding by AGTech Holdings Limited, who owns 45% of the company stakes and the remaining 55% is owned by One97 Communications. In a press statement released by the company earlier today stated that Sudhanshu Gupta will be the Chief Operating Officer. He was also the person who builds the PayTm marketplace by being a part of the core team.

Gamepind that can be accessed through the PayTm app at the moment will soon have its own platform and have a series of online gaming categories will be listed on it. Currently, it provides an array of social and casual games with loyalty rewards to the users who access it through PayTm.  Soon there will be new games and those games will have many offers and coupons that can be redeemed for selected uses.

Speaking of which, Sudhanshu Gupta quoted, “We are looking to add as many things as possible to provide our users with their favourites. We have 40 people working on it and we still need 25 more people to add to the team to ramp up the technology of the app.”

The joint venture of One97 Communications and AGTech Holdings was formed in July, 2017. At that time, the venture kicked off with $16 million which had Alibaba investing $7.2 million and the other $8.8 million was invested by One97 Communications. “AGTech believes that Gamepind has the potential to capture the evolving and vastly spread market of mobile gaming in India. India is one of the selected overseas market that Alibaba Group has in mind to globalize their business,” quoted the Director of Gamepind Entertainment, G M Cheng, who is also the president of Global Market AGTech.

PayTm’s Gamepind Entertainment has an Alibaba’s investment of $16 million was last modified: August 13th, 2018 by Koustav Shaw

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Koustav Shaw

I always hate talking about myself because it feels weird to talk about myself honestly. Ever think that it's weird? No? Just me? My bad. Always hungry, always sleepy and in between always writing. Hope you won't mind!

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