Google backs India's STAN—the platform that rewards for playing games
What's the story
Google has invested in STAN, an Indian social gaming platform headquartered in Singapore that connects gamers with creators and communities. The investment is part of an $8.5 million equity funding round with participation from Japanese gaming companies Bandai Namco Entertainment, Square Enix, and Reazon Holdings. Aptos Labs and King River Capital also participated in the round along with existing investors General Catalyst and GFR Fund.
Platform features
STAN's unique model
STAN differentiates itself from Discord by letting users earn in-app currency called "Gems" by winning games. These Gems can then be redeemed for vouchers on various e-commerce platforms like Flipkart and Amazon. The platform also allows creators to set up game-specific chat rooms or "Clubs." While anyone can join these Clubs, accessing the unique gaming experiences offered by creators requires payment in social currency. This model not only incentivizes user engagement but also generates revenue for STAN through transaction commissions.
Expansion strategy
Plans to enhance moderation using AI
STAN claims to have over 25 million downloads on the Play Store and App Store combined, with around 5.5 million monthly active users. The platform has also partnered with game publishers, studios, and developers such as Krafton, Garena, and Roblox. Looking ahead, STAN plans to leverage Google's backing to improve moderation using AI. The company also intends to introduce AI-powered toolkits for creators in the near future.
Growth trajectory
Global expansion on the horizon
Despite being geo-restricted to India, STAN still sees 5%-6% of its engagement from international users. The company plans to expand globally over the next year, starting with the Indian subcontinent and later targeting Southeast Asia and Latin America. Although it was profitable for a few months, STAN is currently focusing on scaling up its operations with an aim to achieve profitability by 2027.