VerSe Innovation, parent company of DailyHunt and short video app Josh, has announced the acquisition of GolBol, a social networking app. Financial details of the deal were not disclosed.
The entire GolBol team, including co-founders Shanu Vivek, Karandeep Singh Gujral and Kaushik Mahato, will join VerSe to help accelerate the ongoing work to modernize and multiply Josh’s impact.
Shailendra Sharma, SVP Product & Engineering at VerSe Innovation, said: “VerSe’s clear growth strategy for Josh, based on an entrepreneurial mindset, has driven this alliance with some of India’s brightest minds and passionate innovators who understand how Bharath consumes, creates and interacts with content. “
Vivek and the 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 team will also improve the efficiency of AI and ML to create UGC discovery initiatives for Josh’s users to enjoy authentic content experiences.
“GolBol was born from the simple idea of motivating local speaking users to share their lives online through an easy-to-use product. We had more ambitious plans and wanted to meet the diverse content needs of Bharath. The ambition and clarity of thought demonstrated by Josh’s leadership convinced us that this was the right solution, ”said Shanu Vivek, CEO and co-founder of GolBol.
This acquisition is in line with VerSe Innovation’s vision to develop digital capabilities to meet Bharat’s unmet content needs, closing the year which also saw the acquisition of AI start-up Cognirel Technologies and the photo and video sharing application, Vebbler.