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Tiki to Shut Down Operations in India after Failing to Survive After the TikTok Ban
Tiki, a short-form video app that was launched in India after TikTok was banned, is set to cease operations on June 27. This comes as a surprise as it maintained some 35 million monthly active users in India, its only operational market. Tiki featured original and local-focused videos and was owned by an entity called Dol Technologies, making it unclear how the video app was bankrolled. Many industry executives speculate that it was a loose subsidiary of one of the Chinese video apps that were banned by New Delhi in mid-2020.
Background Information
TikTok, a Chinese video-sharing social networking service, was banned in India in June 2020 due to cybersecurity and national security concerns. In response, several short-form video apps launched in India, hoping to fill the void created by TikTok’s ban.
The Rise and Fall of Tiki
Tiki was launched in India immediately after TikTok was banned. Despite having 35 million monthly active users, the app failed to survive in the Indian market. The demise of Tiki comes at a time when India’s short video market is seeing rapid consolidation and exits. Times Internet sold MX Player’s short video business to ShareChat last year, whereas Xiaomi shut its short video offering Zili earlier this month in the country.
The Mystery Surrounding Tiki
Tiki was owned by an entity called Dol Technologies, making it unclear how it was bankrolled. Many industry executives speculate that it was a loose subsidiary of one of the Chinese video apps that were banned by New Delhi in mid-2020. The closure of Tiki highlights the importance of transparency and accountability when it comes to funding and ownership of startups.
The Impact of Tiki Closing Down
The shutdown of Tiki is a reminder of the difficulties faced by startups in today’s rapidly changing tech industry. The closure of Tiki will leave a gap in the Indian short-form video market, which is seeing a rapid consolidation and exit of players.
Conclusion
The closure of Tiki in India is yet another example of how the tech industry is evolving rapidly, and startups are finding it challenging to keep up with the changing trends. The rise and fall of Tiki highlight the importance of funding transparency and accountability when it comes to startups and their ownership structures.
FAQs
Why was TikTok banned in India?
TikTok was banned in India in June 2020 due to cybersecurity and national security concerns.
What was Tiki?
Tiki was a short-form video app that was launched in India after TikTok was banned. It featured original and local-focused videos.
How many monthly active users did Tiki have in India?
Tiki maintained some 35 million monthly active users in India, its only operational market.
Who owned Tiki?
Tiki was owned by an entity called Dol Technologies.
Why did Tiki shut down in India?
Tiki failed to survive in the Indian market despite having 35 million monthly active users.
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