Venture capital firm SAIF Partners has invested Rs 4.7 crore in Playment, a Bangalore-based firm which crowdsources work from large companies which is usually handled by a BPO or done in-house. Playment will use the funds to build engineering and product teams and scale deployments in all clients, as indicated by this Economic Times report. Playment has an app where upon completion of tasks, users will get points which can be redeemed for Paytm Cash and vouchers from Flipkart, Amazon, Myntra and BookMyShow. It partners with ecommerce companies to offload their data works and create simple tasks for users. These usually involve tagging products into their right categories, or classify reviews. In case the app finds that users have answered a question incorrectly, it will reject the submission. If users keep answering incorrectly, the accuracy level decreases and they may stop receiving tasks. However, it seems that the number of tasks are limited at the moment (I finished seven tasks and there was nothing else for me to do). Playment says whenever there is a supply of from their partner companies, they create tasks for users and that they are attempting to create an on-demand workforce for the major ecommerce companies. Playment says that it has processed over 5 million data tags from major ecommerce companies in India, as indicated in AngelList. It counts Flipkart,Myntra, ShopClues, Paytm, Voonik, iLenz and iBhejo as its clients. Competition: There are a number of other apps which work on a similar premise as Playment. Some which we found on the Play Store are…
