JOSH, A SHORT-FORM video platform run by VerSe Innovations, should reach an annual revenue run rate (ARR) of $50-$100 million by March and break-even at the operating profit level within the next 18 months, Umang Bedi, cofounder and CEO told FE. Meanwhile, VerSe, which aims to go public in about two-three years, is on track to end FY23 at an ARR of $300 million, Bedi said.
Josh is relying on advertisements and commerce - such as virtual gifting - for profits. The platform now has 184 million users, of which 83 million use it every day; 60% are male and 40% female. On average, a user spends about 25-30 minutes on the platform.
Bedi told FE Josh's revenues are growing five times faster than those of Dailyhunt. "The short-form video market has seen explosive growth.
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