Building an adtech platform enables effective expansion of the user base, said Umang Bedi, Co-founder of VerSe Innovation, at TechSparks 2023.
In 2018, VerSe Innovation, the parent company of news aggregator Daily Hunt and short-video app Josh, started preloading the adtech platform on OEM handsets.
“Having the ability to build our adtech has helped us scale our business. In a place where most companies depend on network business which gives a small yield, we were able to scale demand, catering to thousands of users,” said Bedi.
He also said the company lays emphasis on the SMB part of the business, enabling it to derive hyperlocal content and scale growth.
“Big techs such as Google and Facebook are growing slowly with huge numbers. In Josh, we can now witness a tech-driven influencer marketplace, along with selling virtual digital services and goods.”
With top brands focusing on social media platforms, influencer marketing is set to be a Rs 900-crore market in India by the end of the year, according to a report by media buyer GroupM.
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Bedi also spoke about Josh, an Indian short-video app that was launched amid the ban of TikTok and other Chinese apps in 2020.
The video-sharing social networking service was among the top 10 most downloaded social and entertainment apps in India in 2021. It had over 150 million monthly active users as of April 2022.
Josh has promoted itself as ‘Instagram for Bharat’, said Bedi, referring to its focus on the diverse Indian audience who speaks different state languages. The app, which is available in 12 Indian languages, allows users to upload, share, and remix short videos of up to 120 seconds.
Edited by Affirunisa Kankudti
