During the month of June this year, the government of India had imposed a complete ban on short video streaming app-TikTok. The decision commenced soon after a violent clash at the Galway Valley with China. Alongside TikTok many other applications were also banned. Now, the owners of TikTok copycat apps from India have raised approx. $100 million from investors including Alphabet Inc’s Google and Microsoft.
A Bengaluru-based VerSe Innovation, which owns Josh(TikTok clone) is now valued at more than $1 billion following the new investment. The AlphaWave which one of the part of global asset manager Falcon Edge Capital, has also invested alongside Sofina Group and Lupa Systems. As per a report by NDTV, Google on the other side has also separately announced the investment in VerSe adding it had also invested in mobile advertising technology firm InMobi, which runs lock-screen content app Glance and short-video app Roposo.
The Chinese owned mobile app, TikTok was one of the most popular application in Indian including other countries. The application had around 1.5B downloads, out of which 466 M downloads where from India in 2019. Soon after the official ban on this app, the Desi Variants of TikTok started competing each other. TikTok clones such as Mitron, Josh, Takatak, Roposo, Chingari and few others made quite a buzz.
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