CleverTap, the all-in-one engagement platform announced that mobile gaming platform, WinZO, has achieved 40% growth in retention rate following the CleverTap rollout.
Founded in 2018, WinZO is today at the forefront of India’s mobile gaming revolution; the company has over 175 million users, making it the country’s largest mobile social gaming platform. WinZO hosts 100+ games across multiple formats in more than a dozen regional languages.
WinZO is dedicated to providing product value and fostering user retention. The challenge was to quickly analyze data to enhance user retention. CleverTap’s integrated partnership with WinZO’s technology stack, helped nurture more robust customer relationships, bolster user engagement, and increase retention rates. Today, WinZO has 5 billion micro in-app transactions every month, and delivers highly personalized experiences to gamers.
“In the current highly competitive environment, where users have an abundance of options with numerous apps and brands competing for their attention, our goal is to craft experiences that are highly responsive and based on real-time interactions,” said Angad Sehdev, Strategy and Growth, WinZO. He further added, “CleverTap doesn’t just provide data; it equips us with the insights, segmentation, and tools needed to execute swiftly. In this kind of an ecosystem, if you’re not acting on the data in real time, you lose your user base. You need to understand what the user wants before the user has even expressed the need.”
CleverTap offers comprehensive tracking and analytics, enabling WinZO to gain insights into customer interactions with its products. This real-time feedback on new app updates aids in refining rollout strategies.
Sidharth Pisharoti, Chief Revenue Officer, CleverTap said, “Customer retention has always been at the heart of everything we do at CleverTap, and we’re thrilled to have helped WinZO increase their retention rates by 40%. It’s been an immense pleasure working with WinZO over the last 5 years. Today, they are one of India’s largest mobile gaming platforms. This is a result of their deep understanding of customer behavior and the team’s ability to deliver on those expectations. As WinZO embarks on an ambitious journey to expand its user base to 700 million and introduce new gaming formats, CleverTap remains a steadfast partner in this tech-driven gaming revolution.”
Snail Games Enhances Current Game Titles with Exciting New Developments
Snail Inc., a leading global independent developer and publisher of interactive digital entertainment, announced significant strides with the launch of West Hunt on Nintendo Switch and the introduction of ASA Premium Mods for ARK Survival Ascended. These initiatives underscore Snail Games’ unwavering commitment to continuously improving and enhancing its current portfolio of game titles.
West Hunt on Nintendo Switch
Snail Games’ independent game branch, Wandering Wizard, in collaboration with developing studio New Gen, recently launched West Hunt on Nintendo Switch. This highly anticipated game transports players into the heart of the Wild West, enabling them to embark on manhunts wherever they go. The launch of West Hunt on Nintendo Switch marks a significant milestone in Snail Games’ journey, as it extends the game’s reach beyond Steam into the thriving console gaming community.
ASA Premium Mods
Snail Games is also set to introduce ARK Survival Ascended’s Premium Mods program. This innovative initiative revolutionizes the modding landscape by providing unprecedented opportunities for monetization. With one of the most competitive revenue-sharing models in the industry, ARK Survival Ascended’s Premium Mods program ensures that modders are duly recognized and rewarded for their creativity and dedication. Moreover, ASA Premium Mods’ cross-platform compatibility across PC, Xbox, and PlayStation amplifies modders’ reach, enabling them to maximize their earnings and connect with a broader audience. ARK Survival Ascended’s mod program is committed to fostering an environment that encourages innovation, collaboration, and fair compensation for modders. The program aims to be a catalyst for positive change within the modding community, empowering creators to thrive in their craft. The premium mod program has launched on the PC platform with other platforms to follow in time.
“We remain committed to improving and elevating our current portfolio of games, ensuring that every player finds adventure and excitement in our diverse offerings. We embark on these exciting new ventures with our community and partners at the forefront of our strategy,” Jim Tsai, Chief Executive Officer of Snail Games, said.
WA.Technology appoints Waldir Marques as Director of Regulatory Affairs
WA.Technology, a leading B2B iGaming solutions provider, is thrilled to announce the appointment of Waldir Marques as its new Director of Regulatory Affairs—this key addition to WA.Technology’s leadership team fortifies the company, particularly in light of recent regulatory changes in Brazil.
Waldir Marques, the former CEO of the government-backed lottery syndicate CAIXA Loterias S.A., brings a wealth of experience and an outstanding track record in iGaming regulation. His high-profile role at Brazil’s CAIXA Loterias S.A., a company renowned for its commitment to ethics, integrity, and transparency, has honed his skills in ensuring strict adherence to regulatory requirements – a crucial asset for WA.Technology’s operations. Waldir’s insights and expertise will be invaluable in bringing credible and knowledgeable advice to clients, opening the door for bigger and better opportunities in a legally compliant way.
“With the latest regulatory developments in Brazil, Waldir’s profound understanding of the legal landscape will be instrumental in guiding our expansion efforts in the country and the wider Latam market,” said Tim Scoffham, CEO of WA.Technology. “His appointment proves our commitment to operating within legal compliance, ensuring our clients receive exceptional service and the peace of mind that comes with rigorous regulatory adherence.”
Waldir’s curriculum vitae is a testament to his breadth of knowledge and experience in the field. His roles as Director-President & CEO at CAIXA Loterias S.A. and Subsecretary of Regulation of Lotteries, Prizes and Sweepstakes at the Ministry of Economy, Brazil, highlight his capabilities in navigating the regulatory environment of the Brazilian market and beyond. His team leadership and governance skills further solidify his fit for this pivotal role.
“I am excited to start this new chapter with WA.Technology and contribute to its growth in the Latam region,” said Waldir Marques. “Ensuring compliance and fostering a trustworthy environment for our clients is my top priority. I look forward to helping to steer the company through the evolving regulatory landscape, particularly in Brazil, in light of the ongoing changes. I’m also looking forward to taking on the challenge of bettering WA.Technology’s advancement in the broader South American market as the company branches out into other markets such as Mexico.”
Waldir Marques will be part of the WA.Technology team at ICE London 2024 and will be available at the WA.Technology stand S4-240. His presence at such a prominent event underscores WA.Technology’s commitment to expanding its reach and expertise in the flourishing Latam market.
This appointment marks a significant stride for WA.Technology in fortifying its position in Latam. WA.Technology is dedicated to upholding the highest standards of regulatory compliance and client service, and the addition of Waldir Marques to its leadership team signifies its commitment to excellence, integrity, and growth in the region.
SharpLink Gaming Sells Fantasy Sports and Sports Game Development Business Units to RSports Interactive
SharpLink Gaming Ltd. (Nasdaq: SBET) (“SharpLink” or the “Company”) announced that on January 18, 2024, the Company entered into an agreement to sell all of the issued and outstanding shares of common stock or membership interests, as applicable, in its SportsHub/fantasy sports and free to play sports game development business units to RSports Interactive, Inc. (“RSports”) for $22.5 million in an all-cash transaction. Nearly all employees of these acquired business units will also move to RSports to help ensure a seamless transition.
SharpLink further reported that it used approximately $14.9 million of the proceeds from the sale to repay in full all outstanding term loans and lines of credit with its lender; in addition, SharpLink paid approximately $4.5 million to redeem an 8% Interest, 10% Original Issue Discount Senior Convertible Debenture issued to an existing shareholder in connection with a Securities Purchase Agreement signed in February 2023. As a result, the Company is now free of interest bearing debt.
As further detailed in a Current Report on Form 8-K to be filed by the Company with the U.S. Securities and Exchange Commission later today, SharpLink’s Board of Directors considered the following factors, among others, in reaching their decision to approve the sale:
- With the sale consummated, SharpLink expects to significantly reduce its operating expenses, primarily due to a significant reduction in headcount, lower office lease costs, greatly diminished state licensing requirements, elimination of interest bearing debt service and other resulting cost savings, thereby positioning the Company with the ability to achieve positive cash flow from its remaining performance marketing business on an accelerated basis;
- The sale significantly strengthens the Company’s working cash position and total shareholders’ equity and provides the capital necessary to extinguish nearly $19.4 million in interest bearing debt – all without having to rely on dilutive equity financings to support the Company’s future growth;
- The improvement in the Company’s total shareholders’ equity position is expected to enable SharpLink to regain compliance with Nasdaq’s minimum continued listing requirements; and
- The sale of the Company’s fantasy sports and free-to-play games development businesses positions SharpLink as a pure-play, performance marketing company serving the global sports betting and iGaming industries.
In connection with the sale, Chris Nicholas, the Company’s Chief Operating Officer and a member of the Board of Directors, resigned as an officer and director of the Company, effective immediately.
Commenting on the sale, Rob Phythian, SharpLink’s Chief Executive Officer, stated, “This sale represents a pivotal milestone for SharpLink, allowing us to unlock significant value in our fantasy sports and game development businesses and achieve multiple critical objectives without having to turn to a potentially dilutive equity financing to strengthen our financial footing, regain compliance with Nasdaq, and support our efforts to ultimately create sustainable long-term value for our shareholders. Moreover, we are confident that our fantasy sports and sports game development businesses will continue to thrive and prosper in the great hands of RSports, which has exciting plans to elevate the combined businesses to new heights.”
Continuing, Phythian said, “Our remaining sports betting and iGaming performance marketing business will be more focused and simplified, allowing us to prioritize innovation and organic growth, while empowering us to look for strategic opportunities to strengthen SharpLink’s position as a trusted solutions provider to both current and future business partners.”
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