Swedish Friendbase to capitalize on the soaring Indian gaming market
Swedish company Friendbase AB is opening new office in Bengaluru, India by establishing Friendbase India Private Limited.
Friendbase AB is an award-winning social platform company founded in 2013 based in Gothenburg Sweden, Istanbul Turkey, and now in Bengaluru India. Friendbase is an avatar based social network, a fun-packed chat world where young people from all over the world meet new friends, play games, and learn. Friendbase mission is to create ecosystem for responsible gaming and learning. They aim to become the global platform for young teenagers all over the world. With experienced management team the company has reached new milestone expanding in the gaming industry.
Since the launch of Friendbase, India has constantly been one of the company’s top five markets, and today the Indian gaming industry is fastest growing in the world with an expected growth of 113% until 2025. With present user base of 433 mn and revenue $1.83 bn the gaming market is ready to soar newer heights.
To capitalize on this, and with the launch of the brand new platform later this year, Friendbase AB has decided to establish local presence in the Indian market. After spending time analysing the market and access to talent, the new company has registered in Bengaluru, the world’s 4th largest technology and innovation cluster and home to global technology firms.
Deborah Lygonis, CEO and founder of Friendbase, expects a massive growth in India the months after release. “We already have a solid user base in India, but to ensure we maximize the growth we want to ensure we have feet on the ground. The team in India will be focusing on creating local content, bringing in collaborations as well working with marketing and support. This is very exciting, and we welcome our new partners to the Friendbase family!”
Friendbase as platform is currently being rebuilt, fueled with venture capital interest and fundraise earlier this year. The funding is used to not only ensure that technology is future-proof and scalable to serve millions of users but also to add new features such as educational quizzes, multi-language support and more.
Dr Suneel Sharma, Managing Partner Friendbase India on cultural context and company plans says “India has a large and growing number of gamers where 60 percent are between the ages of 18 and 24 years. There is inclination for young people to play online games while parents and teachers are always worried about exposure of kids and young children to un-regulated social media. India in general is considered a traditional society with rich heritage and family values. It is right time to start thinking about ‘responsible and sustainable’. We as a company want to bring responsible practices through social technology and also contribute to sustainable policy making in the country.”
The unique combination of entertainment and edtech that Friendbase offers is a good fit for the Indian market. Having a local presence will extend their ecosystem, employ local talent in development and, content creation. The company plans to bring more funding and partnerships to create rapid growth and become a big player in the Asia-Pacific region.
For more information contact:
Deborah Lygonis, CEO firstname.lastname@example.org
Dr Suneel Sharma, Managing Partner of Friendbase India email@example.com