BitRhymes On Target To Make $45 Million From Virtual Bingo
Bingo is one of those games that has a huge following, but the idea that a company could make good money from the game online is something many would question. Yet this is precisely what Indian start-up, BitRhymes has done.
Launched back in 2008 and with just $1 million in funding so far, the company has made Bingo hip and cool again, thanks in large part to its US iPad app, Bingo Bash. The app which is near the top of the highest growing list in the Apple App Store has been making waves and many are pleasantly surprised that such time-honored game can hold such sway on modern devices like the iPad.
And it’s not your typical 60-something grandma that is playing either; BitRhymes CEO Sumit Gupta says that a large chunk of its demographic are young people. The one thing that hasn’t changed is the fact that the majority of users are women.
It looks like BitRhymes has plans to push further into the social gaming space and Gupta and the company’s lead investor, Tandem Capital believe that the transition into real-money casino play is definitely in the cards.
For now though, the company is pressing to increase the number of people who play Bingo Bash. The game is present not only on the iPad but the iPhone, Facebook and Android devices. There are an estimated 1.8 million monthly active users and this number is expected to grow by year end.