Gameskraft's secret to bootstrapped billion-dollar success!

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Hey there,

Bootstrapped Gameskraft posted RECORD profits of ₹1062 CR whereas Sequoia-backed MPL posted a loss of ₹298 CR.

So, what's the winning formula of Gamescraft?

First here is some quick backstory: Gameskraft was founded in 2017 by Prithvi Singh, who previously worked at Grofers (now Blinkit). And, it's the parent company behind popular games like RummyCulture, RummyPrime, Playship, Pocket52, and LudoCulture.

Despite being bootstrapped with mostly friends and family funding, Gameskraft has rapidly grown into one of India’s fastest-growing gaming businesses. They now have over 700 employees, making them a lean, profit-generating powerhouse. This impressive growth has positioned them as a major competitor to the likes of MPL, Games 24x7, and Dream 11.

So, what sets Gameskraft apart from its well-funded competitors? Here are some key strategies they've employed:

1. Innovative Revenue Model: Gameskraft took a bold step by adopting a pay-to-play model in a market dominated by free-to-play platforms. This move was a game-changer. It attracted a dedicated audience willing to pay for a premium gaming experience, setting them apart from the crowd.

2. Customer-Centric Features: They introduced same-day withdrawals, a first in the Indian online gaming industry. This feature directly tackled a common issue among gamers, boosting trust and satisfaction. It's a prime example of how understanding and addressing customer needs can be a game-changer.

3. Global Recognition through Mega Tournaments: By hosting the world's largest rummy tournament, Gameskraft didn't just break records; they also significantly enhanced their brand credibility on a global stage.

4. Sustainable Growth Strategy: Unlike many startups that chase rapid growth through heavy external funding, Gameskraft's approach was different. They focused on organic growth and maintained a tight rein on their expenses. This strategy allowed them to stay flexible and adapt quickly to market changes, all without the added pressure from external investors.

In essence, Gameskraft's remarkable success story is a blend of a unique business model, a deep understanding of customer preferences, and a commitment to delivering quality experiences.

Their story is a masterclass in creating profitable, bootstrapped businesses. Other startups in this space can learn a lot from them, especially about being financially prudent and prioritizing customer needs over unnecessary offerings.

✍️ Jargon of the day

Skill-based gaming:

Skill-based gaming is playing games where your ability matters more than luck. In these games, the better you are at the game, the more likely you are to win. They include things like puzzles, strategy games, and sports games. It's all about how good you are at playing the game.

eBook: How to minimize third-party risk with vendor management

A robust vendor management program isn’t just required by compliance frameworks like SOC 2 and ISO 27001. It’s also a critical part of a holistic trust management strategy.

Implementing a vendor management program, however, has become more complex and challenging with the proliferation of SaaS tools and shadow IT. And many overstretched security teams are being asked to do more with less.

To stay compliant and secure — and deepen trust with customers and partners — security teams need a way to proactively manage vendor risk.

This guide from Vanta, the leading trust management platform, brings together perspectives from the frontlines of vendor security management. Get insights and best practices from security and compliance leaders. 

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Cheers,
Karthik