Popularly called as a Indian Tik Tok, Josh short video-sharing app like a TikTok clone has raised more than $100 million from investors including Alphabet Inc's Google and Microsoft, months after the Chinese app was banned in the country. Josh is one of a few local short-video sharing platform that have jumped up due to the fact that India hindered the uncontrollably mainstream TikTok in June in the midst of an outskirt emergency with China, pulling in worldwide financial specialist interest in applications filling the gap.
Bengaluru-based VerSe Innovation, owns Josh, is valued at more than $1 billion following the investment, the company said in a statement. Josh has crossed 50 million downloads on the Google Play store. VerSe investors includes AlphaWave, a part of global asset manager Falcon Edge Capital, Sofina Group and Lupa Systems. The company said the funds will be used to scale up the application. VerSe also owns the the news and content platform Dailyhunt that offers news in various Indian languages.
Google said the speculation is essential for its $10 billion (generally Rs. 73,900 crores) Google for India Digitisation Fund made to quicken India's computerised economy. "At the point when we shared subtleties of the India Digitization Fund in July this year, we distinguished empowering reasonable access and data for each Indian in their own language, regardless of whether it's Hindi, Tamil, Malayalam, Gujarati, and more as a critical column to drive forward India's digitisation," Google said in a blog entry.
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