Mx TakaTak, Josh and Moj made it to the record of most downloaded apps on Google Play Retailer within the Q3 of 2020
Trell has raised the most important spherical amongst all apps providing hypershot leisure options
Nevertheless, Singapore-based Snack Video has additionally been gaining traction globally
ShareChat-owned Moj has surpassed 100 Mn downloads on Google Play Retailer in a brief span of seven months and has claimed to be the fastest-growing made-in-India quick video platform. Moj competes with different homegrown options Chingari, Mitron, Trell and DailyHunt’s Josh which have additionally been standard amongst customers.
Trying on the development of those apps, it’s laborious to consider that the market was dominated by TikTok until June 2020 earlier than the Indian authorities determined to strike it down. About 267 different Chinese language apps, together with quick video apps Likee and ByteDance-owned Vigo, had been banned in India attributable to geo-political points arising between India and China.
The Indian authorities’s strike opened up brisker alternatives for the Indian gamers, who had been in any other case shadowed by the Chineses corporations. Quickly a number of corporations entered the market, together with Zee5’s HiPi, Gaana HotShots, MX Takatak, Instagram Reels and others.
With the void within the hypershots leisure phase, platforms like MX TakaTak, Josh and Moj added to the record of most downloaded apps on Google Play Retailer within the third quarter of 2020, driving solely on the again of Indian userbase.
Whereas MX TakaTaka discovered itself on the 12th spot, Josh and Moj had been only a step behind on the 13th and 14th spot. In the meantime TikTok was essentially the most downloaded app on this planet regardless of the ban in India and rising criticism in different markets attributable to its Chinese language origins.
Buyers Get Extra Certain Of Hypershots Market In India
There have been few doubts about whether or not the options will have the ability to survive as soon as TikTok launches in India once more, however this preliminary development was sufficient proof for buyers to leap in help for homegrown options. The primary startup to lift funding amongst these was Mitron, which raised an undisclosed quantity from 3one4 Capital and a LetsVenture syndicate record led by Arun Tadanki. Based in 2020, the app averaged 2.5 Lakh movies uploaded per day earlier than the ban, however grew to 1 Mn+ uploads quickly after.
Quickly after, Chingari joined the race with INR 10 Cr ($1.three Mn) from LogX Ventures, AngelList’s Utsav Somani, NowFloats’ Jasminder Singh Gulati, AL Belief (Vistra ITCL), Village International. The corporate famous 23 Mn downloads between July and August final 12 months, and has greater than 45 Mn+ downloads with a mean engagement time of 51 minutes.
Sharechat raised the most important spherical, amongst all these gamers, of $40 Mn from Twitter and Lightspeed Ventures in its Pre Collection E spherical. It’s stated to be in the course of an $1.03 Bn acquisition cope with Google.
Among the many gamers with sole hypershot leisure market, video-first expertise discovery platform Trell raised the most important spherical with $11.four Mn (practically INR 85.three Cr) in Collection A.
Brief Video Hype Fading Away?
The quick video app phase has been full of pleasure over the past 12 months, however has the momentum behind it began to fade away? In line with Entrackr report, citing knowledge sourced from Sensor Tower, famous that there was a drop in new downloads within the phase between October and November.
New downloads of Chingari and Trell had dropped down under the million mark, whereas Mitron was the least downloaded app with solely 55Ok downloads. Chingari famous 800Ok downloads and Trell famous 330Ok downloads throughout the identical interval. The market was led by Singapore-based Snack Video with 35 Mn downloads, adopted by Josh’s 12 Mn and Moj’s 8.14 Mn downloads. Mx TakaTak reported 6.9 Mn set up, whereas Roposo was at one million.
General, Snack Video is alleged to have greater than 190 Mn customers throughout the globe. This does elevate questions on whether or not the market will keep within the fingers of Indian gamers in the long term. Apart from this, the potential re-entry of TikTok in India can also be going to be an enormous issue of the market within the long-run.