– Offering social games and entertainment content combined with unique shopping experience
– Aiming to capture the rapidly growing mobile entertainment market in India
January 29, 2018, New Delhi, India – A joint venture of AGTech Holdings Limited (“AGTech” or the “Company”, HKEX stock code: 08279), the leading integrated games and entertainment company in China and Paytm, India’s largest mobile-first financial services platform, today announced the official launch of Gamepind, an innovative mobile platform offering a host of popular and exciting social and casual games.
Through Gamepind, available both through the Paytm app and as an independent app, the company aims to tap into the significant potential of the fast-growing mobile entertainment market in the country. Gamepind complements the Paytm ecosystem by enhancing its customer experience through a rich portfolio of games and entertainment content including casual games, contests and sports games, combined with a unique and engaging shopping experience. In addition, by offering many attractive products, Gamepind is the ideal marketing and promotional platform for merchants to engage with consumers in a truly differentiated way.
India’s entertainment industry is on the cusp of a robust growth phase driven by increasing mobile internet usage over the last decade, with the internet fast becoming a mainstream media for entertainment for many of its 1.3 billion population. The launch of this unique mobile entertainment product signals AGTech’s first major international initiative expanding its footprint in the Indian subcontinent since becoming a member of the Alibaba Group. The joint venture will also broaden Paytm’s offerings by integrating an additional dimension of entertainment and driving deeper consumer engagement. AGTech has a 45% stake in the joint venture while Paytm owns a 55% stake.
John Sun, Chairman and Chief Executive of AGTech said: “We are excited to partner with Paytm to localize this unique platform for its 300 million and growing registered customer base by combining Paytm’s local resources and our expertise in mobile games and other user engagement activities. A member of Alibaba Group and Ant Financial Group, we have been active in looking for international expansion opportunities capitalizing on the vibrant ecosystems of Alibaba Group and Ant Financial Group. As AGTech’s first strategic international expansion, this joint venture lays the foundation for future collaborations as the company continues to globalize its business by strategically working with leading local partners in overseas markets.”
Vijay Shekhar Sharma, Founder and CEO of Paytm said: “India’s young consumers are experimenting and discovering more entertainment options on mobile. Mobile game is therefore growing in the country and becoming big with mobile users. We are happy to partner with AGTech to build an incredible mobile game and entertainment destination. AGTech’s expertise and experience in global mobile game market will help us accelerate our plans in game and entertainment business and bring exciting content to our users.”
About AGTech Holdings Limited
AGTech, listed on the Growth Enterprise Market of the Hong Kong Stock Exchange (Stock Code: 8279), is an integrated technology and services company engaged in the mobile games and entertainment market. AGTech has a team of over 300 employees, and the footprint of its business now spans across China and selected international markets. The company’s investors include Alibaba Group and Ant Financial Group.
AGTech is an official organizer and operator of the competition card games Guan Dan and Two-on-One poker in China, and an official partner of the International Mind Sports Association (IMSA).
For more information, please visit www.agtech.com
About Paytm
Paytm is India’s largest mobile first financial services platform offering payments, banking, lending and insurance. Paytm pioneered and is the leader of QR based mobile payments in India. With the launch of Paytm Payments Bank, the company aims to bring banking and financial services to 500 million un-served and under-served Indians. Paytm is founded by Vijay Shekhar Sharma and is headquartered in the National Capital Region, India. The company’s investors include Softbank, SAIF Partners, Alibaba Group and Ant Financial.