Microsoft and Google help TikTok rival, Josh, as part of $100 million investment
Microsoft and Google were office of an investment round that raised over $100 million for VerSe Innovation (via Bloomberg). VerSe makes Dailyhunt, a news aggregator, and Josh, a short video app and TikTok rival based in India, among several other brands. Poesy is now valued at more $ane billion.
The latest wave of investment is led past AlphaWave. Previous investors Sofina Group and Lupa Systems also joined in the investment. Goldman Sachs and Sequoia Capital India are also investors in Verse.
The new investment volition assistance VerSe bolster Josh, which is a quickly growing short video app. Poesy plans to create AI and machine learning to grow Josh'south audience. Josh could as well potentially expand across Republic of india in the future.
Josh has an audience of 77 one thousand thousand monthly active users, and over 1.v billion videos are played on the platform every twenty-four hours, according to a statement from Josh. Notably, TikTok was banned in India in June of this yr.
Part of Josh's growth could be related to the booming number of people who take access to the web in India. In a blog post, Google vice president Caesar Sengupta states:
In the final two years alone, 100 million new internet users take come online from rural Republic of india. Data shows that rural consumption now accounts for roughly 45 percent of overall mobile information usage in the land, and is primarily focused on online video.
Google's investment isn't just most Josh, however. Sengupta discusses the importance of content being available in people'due south native language. Dailyhunt offers content in 14 languages, greatly increasing admission to data.
Google also announced investments in Indian startup Glance InMobi, which it announced in the aforementioned blog mail.
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Source: https://www.windowscentral.com/microsoft-and-google-help-tiktok-rival-josh-part-100-million-investment-round
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