TikTok, a short video sharing platform, was banned a few months ago with multiple Chinese apps in the country in the interest of national security. Then, in search of a viable alternative at hand, a number of Indian start-ups brought to the market multiple short video sharing platforms similarly designed to give the crazy Indians a taste of tickling.
Among them Chingari, Mitron, Raposo once gained huge popularity due to the huge number of downloads in a short time. One of his ‘Josh’ is in the headlines again. The Bangalore-based Versace Innovation-owned platform has also received over Rs 8,400 crore in foreign investment in the corona-filled market, which includes investors such as Google’s owner Alphabet Inc. and world-renowned companies like Microsoft.
Experts claim that this lost market of Chinese app in India is huge and there is a possibility of huge profit from it in the coming days. With that in mind, the US and several other companies around the world are not shying away from investing in the corona maggi-rhino market. Along with them, Falcon Edge Capital’s global asset manager AlphaWave and Versace Innovation’s previous investors Sofina Group and Lupa Systems have also invested heavily in the Josh platform.
The Versace authorities said they were considering expanding and renovating the platform. The Josh app has already been downloaded more than 50 million times from the Google Play Store. Earlier in September, another social media giant, Twitter, had invested heavily in Indian-owned content sharing platform ShareChat.
Google has also acknowledged in a statement that it is investing in Innovation. At the same time, they have invested in Roposo and mobile advertising technology company InMobi.
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