Bengaluru-based Creator-led Social Gaming and Live Streaming startup Eloelo has recorded 50 million In-App Gameplays in six months since its launch.
The App, aiming to solve for Creator Monetisation, has been seeing 100% Month-on-Month growth and was recently in the Top Trending Apps on Google Playstore, it said in a release.
The product which is being used by over 5 lakh users along with 10,000 Creators across 4 Languages enables Creators to Go Live and Host Games like Bollywood Quizzes, Musical Chairs, Tambola or just Live Stream with Audiences.
There are also hundreds of Challenges on the App where a Creator uploads an Entry and a User can Swipe to Vote on whether this Entry will win the challenge.
A user can earn coins with daily activities and gift these to their favourite Creators. It is a unique concept which has gained a lot of traction with 85% Users coming from Non-Metros and nearly 55% of those users being Females.
An average user is spending over 25 minutes on the App daily with Power users spending nearly 50 minutes daily- that’s almost 5 hours/week.
Interestingly, Eloelo started off as Creator-driven Content to Commerce with a layer of Gamification but quickly started seeing immense traction on the Gamification side and was adding a lot of value to Creators of Bharat.
Eloelo Co-Founder and CEO Saurabh said, “There are over 50 Million Creators globally of which 5 Million are in India but there are not enough Creator Monetisation avenues currently.”
“Despite having the power to attract and move audiences, Creators are never paid their due – and this problem gets amplified for the Creator Middle class who ultimately end up dropping off from their journey. We want to solve this by enabling Creators to engage with their Audiences over Live Social Games and unlock monetisation opportunities,” he added.
With 600 million Indians either consuming content or playing games online, combining Live Social Gaming with the Creator Economy is a potential $12 billion Market that Eloelo is going after.
The startup, which had raised a $400K in August’20 from Waterbridge Ventures, Sequoia Scout & marquee Angel investors like Ramakant Sharma, Rishi Vasudev, etc aims to bring classic offline activities like playing Musical chairs, Tambola, Quiz contests, Talent Shows, etc online.
Eloelo Co-founder Akshay said, “We were always looking at the Creator Monetisation problem with a different lens. Instead of copy-pasting solutions on Subscription for exclusive content which work Globally but not in India, we decided to blend a unique offline insight of Creator-hosted Games by bringing it Online and enabling creator to monetise from Audiences using our in-app currency”.
It plans to cross 5 million users across Languages with 1 lakh creators earning on the platform by end of 2021.