Why India Blocks TikTok, See the Explanation?

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 India Blocks TikTok, These Two Local Startups Get 'Profit'

 India blocks dozens of Chinese apps, including TikTok.  TikTok's competitors have promised not to accept Chinese funding, and some of them are making "profits."

 The short video application TikTok is one of 59 applications from China that were blocked by the Indian government in 2020. This provides an advantage for local startups, such as ShareChat and Verse Innovation.

 According to consulting firm RedSeer, after TikTok left the Chinese market, applications made by local startups such as Moj from ShareChat and Josh from Verse Innovation recorded more than 200 million monthly active users or Monthly Active Users (MAU).

 The local player also has more than four times as many content creators as TikTok did in India before leaving.

 "The rise of this local platform is a big jump. This platform is becoming widely consumed by suburban and rural users," he was quoted as saying by Inc42, last week (30/6).

 One local short video platform that has benefited from the exit of TikTok is Moj.  This platform made by ShareChat was launched in 2020 or when the Indian government banned TikTok.

 Moj was created with the main aim of serving users across India showing their creativity and talent through short videos.

 "The ShareChat team of over 70 engineers and product experts was formed with one focus, to build Moj in the earliest possible timeline," said Moj Senior Director, Content Strategy and Operations Shashank Shekhar quoted from Financial Express, April (3/4)  ).

 Moj is also building on live-streaming capabilities.  "This will be a very effective way to monetize content creators," said Shekhar.

 Moj teamed up with Flipkart to enable videos and shopping experiences.  Through this collaboration, content creators can share their tastes through the application and empower consumers to directly buy Flipkart products from Moj.

 This year, ShareChat raised US$ 255 million in funding from Google, the Times Group, and other investors.

 Apart from ShareChat, Josh's developer, Verse Innovation, benefited from TikTok's departure.  India's first unicorn launched Josh in August 2020.

 "Josh, translated into English, means enthusiasm aims to make short videos viral and trending," said Verse Innovation founder Umang Bedi.

 Meanwhile, Verse Innovation recently received US$ 805 million in funding from the Canada Pension Plan Investment Board, Ontario Teachers' Pension Plan Board, Luxor Capital and Sumeru Ventures.

 The startup is also supported by Google.  Now, Verse Innovation's valuation reaches US$ 5 billion.

 The Indian government has blocked TikTok and other Chinese applications after the border conflict between the two countries.  In fact, India is TikTok's second largest market.

 Based on data from Sensor Tower, the TikTok application has been downloaded around 2 billion times globally.  India contributed 611 million downloads in 2019.

 After the ban, according to Caixin Global, TikTok lost 200 million users in a day, so it is projected to lose up to US$ 6 billion or Rp. 87 trillion.

Dodi Maulana
All Because of Allah Ta'ala

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