Business
i3 Provides Spotlight on its Investment on Moonshine Technology, operating as Baazi Games
i3 Provides Spotlight on its Investment on Moonshine Technology, operating as Baazi Games.
About this update from I3 Interactive Inc
[{"type":"text","content":"\n TORONTO, Dec. 21, 2021 (GLOBE NEWSWIRE) -- i3 Interactive Inc. (“i3” or the “Company”) (CSE: BETS) (FRA: F0O3) (OTC:BLITF) – an emerging market focused online mobile gaming company is pleased to announce an update on its investment in Moonshine Technology Private Limited, operating as Baazi Games (“Baazi”). As previously disclosed, i3’s investment in Baazi in May of 2021 consisted of $5MM USD, and was based on not moving forward with the acquisition of Baazi as a whole. As previously updated, i3 has invested an amount of $5MM USD for a minority stake in Baazi Games, a leading online gaming conglomerate in India. The said transaction has been consummated and the parties have mutually agreed not to pursue any discussions regarding a follow-on investment. i3 is excited to report on the progress since the time of investment. As a pioneer in India’s now burgeoning online gaming industry, Baazi has been in business for over 7 years. Baazi has steadily grown into what now is one of India’s biggest and best online gaming destinations, with an ecosystem that caters to gamers of fantasy sports, poker, rummy, and a host of other skill-based games both for real money as well as in a free and social environment. Recently, Baazi’s growth has accelerated, coinciding with the launch of new products, increased marketing spends, which increased player acquisition and in turn revenue. Baazi currently has over 10 million active users across its products, and it offers players a unique experience across the Baazi’s suite of products with unparalleled loyalty programs and user experience. Baazi has one of the biggest and best prize pools in all of India and a world class team operating the business, which has i3 very pleased with its investment and potential future partnerships with the Baazi team and suite of products. i3 looks forward to updating its shareholders in more detail in the coming months. ABOUT I3 INTERACTIVE INC. The Company is in the business of providing customers with a mobile gaming platform which will provide sports fans worldwide with a unique and highly engaging social gaming product, and sports betting and casino product offering. In an effort to break into emerging global markets, i3 has secured its own technology as well as unique marketing positioning ...