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Alphabet, the parent company of Google and Microsoft, has joined a $ 100 million round of investment in VerSe Innovation, creator of Josh’s Indian short video app and owner of the Dailyhunt news aggregator app, estimating the company at over a billion dollars.
The new financing is led by AlphaWave and joined by a group of existing investors: Sophia, Luca Systems, Goldman Sachs Group and Sequoia Capital India. From what was reported by “Bloomberg” and seen by “Al Arabiya.net”.
The company said it plans to expand Josh’s reach, expand its content creation system, develop artificial intelligence and machine learning technology to help him attract audiences larger than never. It will also explore potential movements outside its home borders to other international markets that demonstrate the need for vernacular content.
Josh is a TikTok competitor designed specifically for Indians with a variety of local languages, as it is being promoted as “Made in India” at a time when TikTok and dozens of other Chinese apps have been banned for privacy reasons and national security. The app quickly gathered an audience of 77 million monthly active users and more than 1.5 billion videos are viewed daily, according to the company’s statement.
“In the last two years alone, the number of Internet users in India has increased by 100 million new users,” wrote Google vice president Caesar Sengupta. “But many rural Internet users still have a hard time finding content to read or services that can be used with confidence, in their own language,” he added in a blog post, which is why Google is participating in the support for VerSe, of which Dailyhunt is a starting point for more than 300 million users to consume content in a choice of 14 local languages.
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