THE GOVERNMENT'S BAN on Chinese short-form video app TikTok in June 2020 saw the birth of a series of similar domestic platforms such as Trell, Roposo, ShareChat's Moj, Chingari, and Verse's Josh. All of them saw high investor interest. However, today none of them are a force to reckon with, having failed to fill the void created by Tik Tok's exit, with even investor interest dwindling.
Prominent VC firms such as Tiber Global, LightSpeed Venture, Qatar Investment Authority and Peak XV had put in $65.8 million into these companies at the peak of the funding boom in 2021, and then $29 million in the year that followed, as per Tracxn data. However, the companies failed to capitalise on the opportunity and are now struggling with rising costs, declining engagement and user retention.
While Trell and Roposo have pivoted largely towards a content-to-commerce business model, the rest are still trying to compete with giants such as Meta's Instagram to capture the short-video market. To achieve profitability in such a scenario, Chingari had reportedly fired about 50% of its workforce late last year, while Moj's parent Mohalla Tech's losses jumped 38% to ₹4,000 crore in FY23.
As a result in 2023, shortvideo apps received zero funding from investors.
هذه القصة مأخوذة من طبعة January 28, 2024 من Financial Express Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة January 28, 2024 من Financial Express Mumbai.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Murdoch ally helps Ambani build media empire in India
SOHEE KIM PR SANJAI
Pandya, Dube & Rinku: Can they finish for India at T20 World Cup?
GOING INTO THE 2022 T20 World Cup in Australia Dinesh Karthik was assigned the finisher role and the batting lineup was built accordingly.
Nestle adds sugar to infant milk and cereal, finds report
A NEW REPORT has revealed that Nestle, the world's largest consumer goods and manufacturer of baby formula, is adding sugar to infant milk and cereal products sold in India, and other Asian, and African countries.
India-made Daimler's electric mini truck to hit the road soon
INDIA WILL BE host to German trucking giant Daimler's only electric vehicle plant outside of Europe and Japan when it launches a locally-made electric light cargo truck in FY25.
Samsung eyes ₹10,000 cr from India TV biz this year
SOUTH KOREAN GIANT Samsung is targeting a turnover of ₹10,000 crores for its television business in India this year, driven by growth in sales of its mid to-premium segment models, said Mohandeep Singh, senior VP, consumer electronics business in India.
Microsoft AI Copilot speed boost for coding
WHEN SOFTWARE DEVELOPER Nikolai Avteniev got his hands on a preview version of Microsoft's Copilot coding assistant in 2021, he quickly saw the potential.
US, China debt pose risks for global public finances: IMF
THE WORLD's TWO great economic rivals, China and the US, will drive much of the increase in global public debt over the next five years, with US spending creating trouble for many other countries by keeping interest rates high, officials at the International Monetary Fund said in a report.
Language models in consumer tech
This move is designed to ensure better user experience & privacy
'Data centres' energy use doubles every four years'
Data centres are significant energy consumers, using about 2% of the world's power and emitting carbon dioxide equivalent to the airline industry.
Vi FPO: Foreign players invest big; about ₹5,400 crore raised
GQG, Fidelity buy almost 40% of the anchor investor portion
