Tiki Video App Ceases Operations in India: A Surprise Move
The short-form video app Tiki has announced that it will be ceasing operations on June 27th in its only active market, India. This comes as the video app maintained some 35 million monthly active users in India, making it a surprise move that has left many wondering what caused it. Tiki offered original and locally focused videos and was launched in India immediately after New Delhi banned its competitor, TikTok. It remains a mystery how the video app was financed but many believe it was a loose subsidiary of one of the Chinese video apps that New Delhi destroyed in mid-2020.
Another One Bites the Dust: Consolidation and Exits in India’s Short Video Market
Tiki’s end represents further consolidation and exits in India’s short video market. Times Internet sold MX Player’s short video business to ShareChat last year while Xiaomi closed its short video by offering Zili earlier this month in India. The market seems to be going through a phase of consolidation and exits, leaving many to wonder what’s next for India’s short video market.
Why Tiki’s Exit is Significant
Tiki’s exit is significant for many reasons. First, it leaves many to ponder how the Indian market will shape up. Second, it signals the growing challenges facing companies who try to capitalize on the vacuum created by the TikTok ban in India. Third, it underscores that there’s no easy way to succeed in India’s short video market. Fourth, it highlights the difficulty of gaining traction in India, one of the world’s largest and most competitive markets. Given these factors, it’s no surprise that Tiki has decided to throw in the towel in India.
The Short Video App Market in India: Challenges and Opportunities
India’s short video app market is one of the most competitive and challenging markets in the world. It’s competitive because there are many players vying for a piece of the pie, and challenging because the Indian market is unique. To succeed, companies must be prepared to navigate a maze of regulations, cultural norms, and other factors that make it difficult to succeed in this market. Some of the key challenges facing companies that want to enter India’s short video market include:
1. The TikTok ban: The TikTok ban has made it more difficult for companies to get started in India’s short video market. This is because TikTok was one of the most popular short video apps in India before it was banned, so companies now have to compete with TikTok’s legacy and brand reputation.
2. Cultural norms: India’s cultural norms make it difficult for companies to succeed. India is a diverse and complex market with different languages, traditions, and customs. Companies must be prepared to tailor their content to local audiences in order to succeed.
3. Technical infrastructure: India’s technical infrastructure is still developing, which makes it difficult for companies to provide a high-quality user experience. This is especially true in rural areas where internet speeds are slower.
Despite these challenges, the short video market in India presents significant opportunities for companies that are willing to navigate the challenges. India is a large and growing market that presents significant opportunities for growth.
Summary
The Tiki video app will cease operations in India on June 27, 2023, marking another exit from India’s competitive short video market. The demise of Tiki, which featured original and locally focused videos, comes as a surprise as it maintained 35 million monthly active users in India, its only operating market. Tiki launched in India immediately after New Delhi banned TikTok, and it remains a mystery how the video app, which was owned by an entity called Dol Technologies, was financed. Tiki’s exit is significant as it underscores the challenges facing the tech industry in India and the difficulty of gaining traction in one of the world’s most competitive markets. While India’s short video app market presents significant opportunities for growth, companies must be prepared to navigate a maze of challenges and regulations in order to succeed.
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Tiki, a short-form video app, will cease operations in India on June 27, the latest addition to a growing list of companies that have failed in their attempts to capitalize on the vacuum created by the New Delhi one. TikTok ban in the South Asian market.
“We regret to inform you that Tiki will be closing its operations. As of June 27, 2023 at 11:59 p.m. India time, all Tiki features and services will cease.” wrote Tiki in a post.
The demise of Tiki, which featured original and locally focused videos, comes as a surprise as it maintained some 35 million monthly active users in India, its only operating market, according to Sensor Tower data (shared by an industry executive).
Singapore-based Tiki launched in India immediately after New Delhi banned TikTok. It remains a mystery how the video app, which was owned by an entity called Dol Technologies, was financed.
Many industry executives told TechCrunch they believed the company was a loose subsidiary of one of the Chinese video apps that New Delhi destroyed in mid-2020.
“Recent challenges facing the tech industry have led to the closure of numerous startups,” said a post on Tiki’s social media accounts. “Despite being a small start-up operating in Singapore and India, Tiki has always stood out as a place for real talent,” said the post, signed by ‘Team Tiki’.
Tiki’s end comes at a time when India’s short video market is experiencing rapid consolidation and exits. Times Internet sold MX Player’s short video business to ShareChat last yearwhile Xiaomi closes his short video by offering Zili earlier this month in the country.
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