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Tiki, a popular short video app in India, to shut down

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Tiki, a short-form video app, is ready to stop operations in India on June 27, the newest addition to a rising roster of companies which have faltered of their makes an attempt to money in on the void created by New Delhi’s ban on TikTok within the South Asian market.

“We remorse to tell you that Tiki shall be shutting down its operations. As of 11.59 PM India time, June 27, 2023, all Tiki features and companies will stop,” wrote Tiki in a submit.

The demise of Tiki, which featured authentic and local-focused movies, comes as a shock because it maintained some 35 million month-to-month energetic customers in India, its solely operational market, in line with information from Sensor Tower (shared by an business govt.)

The Singapore-headquartered Tiki launched in India instantly after New Delhi banned TikTok. It stays a thriller how the video app, which was owned by an entity referred to as Dol Applied sciences, was bankrolled.

Many business executives advised TechCrunch that they believed that the agency was a unfastened subsidiary of one of many Chinese language video apps that received nuked by New Delhi in mid-2020.

“The current challenges confronted by the tech business have led to the closure of quite a few startups,” a submit on Tiki’s social media accounts mentioned. “Regardless of being a small startup working in Singapore and India, Tiki has at all times stood for being a spot for actual skills,” mentioned the submit, signed by ‘Crew Tiki.’

The tip of Tiki comes at a time when India’s quick video market is seeing fast consolidation and exits. Instances Web bought MX Participant’s quick video enterprise to ShareChat final 12 months, whereas Xiaomi shut its quick video providing Zili earlier this month within the nation.



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