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. 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 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.
Static/Current Takeaways Important for Syndicate Bank PO 2018 Exam-
- Executive Chairman of Alibaba Group- Jack Yun MA, Headquarters- Hangzhou, China.
- Paytm Founder- Vijay Shekhar Sharma, Headquarters- Noida.