With Paytm recently launching a mobile gaming platform Gamepind, as part of its joint venture with Alibaba-owned AGTech Media, it is now Chinese Internet conglomerate Tencent that is looking for investment opportunities in the Indian gaming market.
Eyeing the huge potential of the country’s gaming market, Paytm-Alibaba and Tencent are actively exploring the space, which has been booming with homegrown as well as international players.
In a report, ET quoted a person familiar with the development, who said, “Tencent is already evaluating the startup gaming market and is scouting for players to invest in. Don’t be surprised to see Alibaba and Paytm also making investments in the space. Especially Paytm, it is no longer just a digital payments company. It is looking to have its footprint across digital properties. The hot favourites will be casual and social games.”
In an email query sent to the company, Paytm declined to comment on the development.
Back in July 2017, Paytm inked a joint venture with Hong Kong’s mobile games development firm AGTech Media, in a bid to develop mobile games for Indian consumers.
As reported last year, the JV is currently engaged in the development and operation of various platforms including website, mobile applications or other distribution channels to build and publish a variety of products for Indian customers such as mobile games and other user engagement activities.