Why are not apps developed like TikTok in India, which the world can take hands? China's Bytead developed the Tik Tok, an app that gives the ability to make a short video, and in September 2018, it has more than 200 million users in India in nine months after the launch. Its monthly active user base is around 12 crores. Hadlow and Vigo apps of ByteDance have 2.5 million users in India. At the global level, BitDance is the user base.
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Sharechat is the closest Indian app. The active user base of this user-generated content-based app was about four crores in January 2019. The technology investing, industry watchers and entrepreneurs spoke to ET. He pointed out three important reasons for not being able to develop in such a popular app, India. The first reason is that there is a lot of cash needed to bet on an app that can go viral. The 72 billion bags of ByteDance is heavy. Facebook does the same for WhatsApp.
In his statement, Scripbox CEO Ashok Kumar said, "Entrepreneurs still have to work on their ideas to make American/us. Are dependent on foreign funding and the main premise of the work remains that those who have been there will also walk in. There is a huge amount of money in the introduction of a large number of people's ideas. "The B2C business takes a lot of money," said PwC India leader (innovation and startups) Murali Talilla. Hence, big venture capital is needed. Investments in Indian tech companies are coming from very conventional sources and they do not have the capacity to take a big risk. "Digital apps focusing on entertainment or user-generated content in India do not have the advantage of offering in a big way. The owners of such apps make money through advertising. Talking about the data, according to GroupM, the advertising market in India is about 10.5 billion, and its share of less than 30% is spent on digital aid. According to the sources, the aid market in China is 80 billion. In 2019 the digital aid market alone is estimated to be 130 billion, with the US being taxed.
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