The parent of a TikTok copycat from India has raised more than $100 million from investors, including Alphabet Inc’s Google and Microsoft, months after the Chinese-owned short-video app was banned in the country.
The app, Josh, is one of several home-grown short-video platforms that have sprung up since India blocked the wildly popular TikTok in June amidst a border crisis with China, attracting global investor interest in applications filling the gap.
Bengaluru-based VerSe Innovation, which owns Josh, is valued at more than $1 billion following the investment, the company said in a statement.
VerSe also owns news and content platform Dailyhunt, which offers content in multiple Indian languages.
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