Mobile payments company Paytm and Alibaba Group-owned AGTech Holdings Ltd have formed a joint venture to launch Gamepind, a gaming platform aimed at mobile users in India.
Gamepind will offer a host of popular social, casual and sports games with an exclusive rewards programme. The platform will be available as a standalone app and in the Paytm app.
In addition, the platform will offer cash coupons and products, which will serve as a marketing and promotional platform for merchants to engage with mobile shoppers and gamers.
The joint venture between Alibaba’s AGTech Holdings and Paytm was originally signed in July 2017. AGTech Media currently holds 45% in the joint venture, and Paytm owns the rest. At the time of the signing of the agreement, Paytm’s parent company One97 invested $8.8 million in the venture for its 55% stake, and AGTech Holdings put in $7.2 million for its 45% stake.
- Paytm Founded: 2010, Founder: Vijay Shekhar Sharma CEO: Renu Satti, Headquarters: Noida
- Alibaba Group CEO: Daniel Zhang, Founded: 4 April 1999, Hangzhou, China