Octro

Octro, a mobile gaming company headquartered in India, was established in 2006 by Saurabh Aggarwal, a Stanford University alumnus. Aggarwal, a serial entrepreneur, previously co-founded PDAapps, which created one of the first mobile instant messaging apps, VeriChat, and was later acquired by Nokia. Initially, Octro focused on Voice-over-IP (VoIP) technology with its OctroTalk product before pivoting to the mobile gaming sector in 2012. This strategic shift was driven by the insight that direct-to-consumer gaming apps represented a more viable monetization path than utility apps.

The company specializes in developing and publishing mobile games, with a portfolio that includes both leisure and real-money gaming. Octro has carved a niche by digitizing traditional Indian games, such as Teen Patti, Indian Rummy, and Tambola, making them accessible on Android and iOS platforms. Its business model operates on a freemium basis, where games are free to install, but revenue is generated through in-app purchases for virtual goods and display advertising. A significant portion of the company's revenue, approximately 95%, comes from in-app purchases and its real-money game, PlayRummy. Octro's games are known for features like live leaderboards, chat functionalities, and private tables that enhance social engagement.

A key milestone for Octro was securing a $15 million Series A funding round from Peak XV Partners (formerly Sequoia Capital) in June 2014, which has been pivotal to its growth. The company has demonstrated significant user growth, with its flagship game, Teen Patti, experiencing an 800% increase in paying users in 2020 and being played by over 150 million people. In a move to expand its global footprint, particularly in markets like the US and Australia, Octro acquired Israel-based DGN Games in December 2023. This acquisition is part of a broader strategy to grow inorganically by leveraging its technical expertise and strong user base in India. The company owns its entire technology platform, enabling scalability and performance for a massive user base.

Keywords: mobile gaming, online gaming, Indian games, Teen Patti, Indian Rummy, Tambola, freemium model, in-app purchases, real-money gaming, game development, social casino games, Saurabh Aggarwal, Peak XV Partners, Sequoia Capital, DGN Games, Android games, iOS games, multiplayer games, casual games, card games