Indian Version of TikTok Raises $100 Million Funds From Google, Microsoft, Says Report

By | December 24, 2020
Indian Version of TikTok Raises 0 Million Funds From Google, Microsoft, Says Report

Indian Model of TikTok Raises $100 Million Funds From Google, Microsoft, Says Report

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New Delhi: Months after the Central authorities banned quite a few Chinese language apps citing risk to nationwide safety, media reviews on Tuesday surfaced that the mother or father of a TikTok copycat from India has raised greater than $100 million from buyers together with Alphabet Inc’s Google and Microsoft. Additionally Learn – Russian Model of TikTok? Firm Run by Putin’s Alleged Daughter Set to Launch ‘Ya Molodets’

Referred to as as Josh, the copy cat app is one in every of a number of home-grown short-video platforms which have come up because the authorities blocked TikTok in June amidst a border disaster with China. Additionally Learn – Yr Ender 2020: High 10 Most Widespread Chinese language Apps That Exited India This Yr

Stories additional prompt that Bengaluru-based VerSe Innovation, which owns Josh, is valued at greater than $1 billion following the funding. Additionally Learn – Dalgona Espresso Beats Pizza, Banana Bread As Most Searched Recipe Of The Yr on Google 2020 High Traits Checklist

As per reviews, AlphaWave, part of international asset supervisor Falcon Edge Capital, has additionally invested in VerSe together with different buyers similar to Sofina Group and Lupa Techniques. VerSe mentioned in a press release that it additionally owns information and content material platform Dailyhunt, which provides content material in a number of Indian languages.

Other than Josh, one other Indian content-sharing platform ShareChat had in September this 12 months raised $40 million from buyers together with Twitter Inc and Lightspeed Ventures to drive progress for its new short-video app Moj.

Notably, these two apps — Josh and Moj — have been put in on greater than 50 million units every, based on knowledge from Google’s Play Retailer.

Nonetheless, Google additionally introduced the funding in VerSe, and mentioned it had invested in cell promoting know-how agency InMobi, which runs lock-screen content material app Look and short-video app Roposo.

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