VerSe acquires GolBol social networking app to improve Josh Cam

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VerSe will integrate the entire GolBol team, including co-founders Shanu Vivek, Karandeep Singh Gujral, and Kaushik Mahato, to help accelerate the ongoing work to modernize and multiply Josh’s impact.

Released in August 2020, the Josh Short Videos app has seen over 100 million downloads from the Play Store and has over 115 million monthly active users.

In August, VerSe Innovation raised more than $ 450 million in a Series I funding round led by Siguler Guff, Baillie Gifford and Carlyle Asia Partners and others.

Dailyhunt digital media platform and short video app VerSe Innovation, Josh’s parent company, have acquired GolBol, a social networking app made in India.

Established in December 2019, Mumbai-based GolBol was launched with the aim of helping people make relevant and meaningful connections based on interests, faith, kinship, profession, etc. The app has over 5 million downloads from Google Playstore.

Following the acquisition, VerSe will join the entire GolBol team, including co-founders Shanu Vivek, Karandeep Singh Gujral, and Kaushik Mahato, to help accelerate the ongoing work to modernize and multiply Josh’s impact.

The GolBol team will focus their efforts on improving Josh Cam, a mobile video editing app designed exclusively for users and creators of the short video ecosystem, the company statement said.

The team will also improve the efficiency of AI and ML to create UGC discovery initiatives that have the power to detect quality content from a stream of thousands of videos and rank those videos at a high level. scale so Josh’s users get the newest, most unique, and authentic content. experiences, he added.

Released in August 2020, the Josh Short Videos app has seen over 100 million downloads from the Play Store and has over 115 million monthly active users.

The ban on TikTok last year sparked a wave of new applications of Indian short videos, which have been hugely successful. Along with Josh, which launched in July 2020, InMobi’s Sharechat, Chingari and Roposo, MX TakaTak has also come to fill the demand gap.

According to a RedSeer Management Consulting Report, the Indian short video market is expected to grow 4 times the total time spent and reach 400-450 billion minutes per month over the next five years (2020-2025) from 110 billion minutes currently.

In August, VerSe Innovation has raised over $ 450 million in a Series I funding round led by Siguler Guff, Baillie Gifford and Carlyle Asia Partners and others.

Founded by Virendra Gupta in 2007, VerSe Innovation, a B2B company, catered to telecom operators and primarily provided SMS alerts on jobs, property, marriage, news and education subscribers in India, Bangladesh and Africa.

She decided to enter B2C gaming in 2011 when she acquired Eterno Infotech, founded by Umesh Kulkarni and Chandrashekhar Sohoni. Eterno Infotech launched Newshunt in 2009, which was renamed Dailyhunt in 2015.

In March of this year, VerSe acquired Vebbler, an interest-based photo and video sharing app.


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