Brand Capital, the investment arm of India’s largest media conglomerate the Times Group (BCCL), has acquired a stake in blockchain startup Ponder.
Ponder is a maker of blockchain-based game-like apps for generating referrals. Their current app, which has been downloaded over 120k times, is a mobile game for playing matchmaker where users can win real money for making successful matches. The app decentralizes matchmaking, allowing anybody to play matchmaker for their friends and a community of singles. For every successful match, a matchmaker earns $10, and $1000 if they eventually marry.
Brand Capital’s investment will help the startup launch into the Indian market and leverage the group’s media assets in order to build a robust community of users, increasing engagement on the Ponder platform for different verticals of referrals: ie: recruitment, new customers & romance. It will also be used to develop an app intended for recruitment purposes which would provide employers a way to source more high-quality referred candidates.
“This exciting alliance represents a unique opportunity to rapidly scale the Ponder referrals on the platform,” said Manshu Agarwal, Co-Founder and CEO of Ponder. “This investment will assist and accelerate Ponder’s growth, both in the Indian market and overseas.”
“We constantly strive to identify innovation that will impact key vertical sectors and new category of business besides backing new entrepreneurs and their ideas,” said Sam Subramaniam, CEO, Brand Capital. “We see the Ponder platform as a means for ‘scalable human intervention’ on a truly global scale!”
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