Redseer, in a report, said that desi short-video apps — MX Takatak, Moj, Roposo, Josh — have captured 97% of TikTok’s user count of June 2020, when the app was banned in India. Indian short-form apps, as per the management firm, have retained 65-70% of TikTok subscribers, and added another 30-35% of new users, largely from Tier II-III cities in the past year. However, on an average users spent 30 min on short-form video, which is just 55% of June 2020 levels.
Dailyhunt and Josh’s parent company VerSe Innovation has acquired Vebbler, a digital community photo and video sharing platform. The whole Vebbler team will be now a part of VerSe. With the acquisitions, VerSe Innovation aims to build India’s largest digital media platform where users get plenty of content. The company said that the integration of Vebbler’s camera and community will entertain the millions of Josh users with diverse creativity and talent.
Josh, a TikTok copy app, has raised more than $100 mn from investors including Google and Microsoft. Josh is one of several home-grown short-video platforms that have mushroomed after India blocked TikTok and other Chinese apps in June. The app is owned by Bengaluru-based VerSe Innovation, valued at over $1 bn following the investment. The funds will be used to scale up Josh. VerSe owns multiple Indian languages news and content platform Dailyhunt.