User safety is important; regulations shouldn't hurt gaming industry: Games24x7 founders
Founded by Trivikraman Thampy and Bhavin Pandya, Games24x7 has emerged as one of the largest gaming firms in the country.
User safety is important and regulations around online gaming shouldn't hurt the industry, said Games24x7 Co-founder and Co-CEO, Trivikraman Thampy.
During a fireside chat with Shradha Sharma, Founder and CEO of YourStory at TechSparks Mumbai, Thampy said while the startup cares deeply about user protection and playing responsibly, it wants to ensure that the regulations are constructive and don't hurt the industry.
The company has always kept regulations at the core of its business, he added.
"Even early on in our journey, when we started approaching banks to give us a payment gateway, we made sure that we explained to everyone why what we were doing was entirely legitimate," said Co-founder and Co-CEO Bhavin Pandya, recalling that it took the startup nine months to get the first payment gateway.
Founded by Thampy and Pandya, has today emerged as one of the largest gaming firms in the country. It has a user base of over 100 million gamers and its portfolio features top titles, including RummyCircle in real-money gaming and MyCircle11 in the fantasy space.
The company analyses user data to offer a hyper-personalised gaming experience.
Last year, Games24x7 launched a gaming accelerator programme for early-stage gaming firms in collaboration with the Karnataka government.
Speaking about their entrepreneurial journey, the co-founders said it wasn't easy, with very few people wanting to join them when they started the company in 2006.
"When we started hiring people, it was the BPO era ... People were working in air-conditioned offices, with air-conditioned buses picking up and dropping them from wherever their offices were. Suddenly, here comes a startup that says I'm gonna make you work in a room which doesn't even have a proper air-conditioner," recalled Pandya, adding that no one wanted to work with them initially.
However, over time Games24x7 tasted success, which Thampy attributes to hiring the right team.
"We believe amazing companies are built by amazing teams," he said. "Bring the right people in to do the right job."
According to Pandya, gaming is ubiquitous today and this is ultimately where the opportunity is.
The online gaming segment in the country is likely to reach Rs 33,243 crore by FY28, according to a report by EY.
However, the rummy and fantasy space is challenging, said Thampy, with limited scope for growth.
While the company expects "fantastic growth" in rummy and fantasy games in the next five to 10 years, it is focusing on the long run.
A lot of innovation exists outside these markets, said Thampy. "There is still so much more content that one can produce outside of rummy and fantasy."
The company is looking at games that will become as popular as rummy and fantasy games in five years.
Edited by Affirunisa Kankudti and Kanishk Singh