The acquisition can facilitate Pocket Aces work up user growth and community engagement, the corporate aforementioned during a statement.
As a part of the dealings, balmy can get finance, selling and content support from Pocket Aces.
“We believe that during a mobile-first consumption setting like Bharat, a platform like balmy is that the answer to tv game shows,” Ashwin Suresh and Anirudh Pandita, co-founders of Pocket Aces, aforementioned within the statement.
“Reality TV shows… talent shows… and short-form fiction have found parellels.
However, game shows as a genre haven't seen any nice mobile parallel. Suppose we expect balmy is that product and that we think that it will grow to legion users terribly shortly,” they aforementioned.
While Pocket Aces didn't disclose the money details of the dealings, a report within the Economic Times pegged the deal price at $1 million (Rs vi.4 crore).
The balmy app, that was earlier referred to as starting time, offers AN interactive triviality giveaway that lets users answer ten multiple selection queries and win cash in real time.
The game’s award is Rs 10,000 and winners will get their reward directly into their Paytm account.
The live quiz covers topics like current events, technology, food, sports, religion, politics, music, movies and history, in line with info on the market on its Google Play store page.
In forty five days of its launch, the corporate claims that the app has recorded 40,000 downloads.
The balmy app was started in Nov 2017 by Abhishek Madhavan.
AN engineer and an master's degree by qualification, Madhavan had earlier worked because the head of product selling at ed-tech startup Unacademy.
In his earlier stints, he has worked at Neargroup chat larva and Freshworks as a product advisor and selling skilled.
Pocket Aces was based in 2014 by Suresh and Pandita, World Health Organization were investment banking and personal equity professionals.
The company conceptualizes, creates and distributes written and video content together with internet series through its social media and on-line channels – Dice Media, FilterCopy and Gobble.
The company has raised near $3.5 million in external funding from the likes of cypress Capital, North Base Media, Aarin Capital, Axilor Ventures and NuVentures. In its last funding spherical, in Dec 2016, it raised $3 million (Rs twenty crore) during a Sequoia-led funding spherical.
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