Mumbai: Loco was named one of the "Next Hottest Products" by global product analytics company Amplitude in its Product Report 2022.
Products and businesses that have made the digital customer experience a key component of their business strategy are recognised on the list of the "Next Hottest Products." According to data sent to Amplitude, these products have experienced at least a 40 per cent year-over-year growth in monthly active users despite the current economic climate.
Between 21 June and 22 June, Loco's DAUs increased by 900 per cent , and live watch hours increased by 19x during this same period. This year's "Next Hottest Products" list, which was expanded from last year's original list, honours 30 rapidly expanding digital products from businesses in North America, Europe, and Asia-Pacific.
Commenting on the announcement Loco founder Anirudh Pandita, said, "We are delighted that Loco has made Amplitude’s "Next Hottest Product" List. As the global leader in product analytics, Amplitude, has great insight into the products that are growing the fastest across the globe. To be named to the Top 30 list globally underlines the tremendous growth we have witnessed at Loco over the last year. Product-led growth is the foundation for growing in any economic condition, but more so in the volatile economic environment that currently exists globally. At Loco, we have one of the best product and technology teams in the country, and this honour is a recognition of each individual who works in those teams. We put users at the centre of all our product efforts, and the organisation continues to deliver features at breakneck velocity! Our product efforts, coupled with our pioneering efforts in building the gaming community in India, have enabled us to become the leading independent game streaming platform globally."
Dedicated to democratising gaming entertainment, Loco is an esports and live streaming platform. The platform has been a pioneer in the live game streaming and esports sectors in India, paving the way for gaming to go from a niche hobby to a mainstream national interest. Loco has maintained its position as the industry's leading innovator by establishing India's first NFT esports platform and growing to be the nation's top sponsor of esports competitions. Additionally, Loco has seen a remarkable 511 per cent growth in MAUs over the past year.
The "Next Hottest Products" are chosen from monthly user data sent to the Amplitude platform over a 13-month period, from June 2021 to June 2022, that has been aggregated and anonymized. Products had to have a minimum of 10,000 monthly active users at the beginning of the analysis period to qualify for this year's list. Every company included had to be privately held by June 2021.
Amplitude chief product officer Justin Bauer said, "Today every company leader is thinking about how to grow in an efficient and sustainable way. Your digital product is the answer. The companies recognised in this year’s Product Report have shown tremendous, lasting growth despite turbulent economic conditions. Product-led growth is a core part of many of their strategies, and for good reason. Product-led organisations can create experiences users love, acquire new customers at lower costs, and use data to ensure they’re making the right product investments. I am expecting big things from the companies on this list."
