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Tiki, a short-form video app, will shut down in India on June 27.
“Tiki is closing. “Tiki functions and services will cease at 11.59 PM India time, June 27, 2023,” Tiki wrote.
Tiki, which featured original and local videos, had 35 million monthly active users in India, its only market, according to Sensor Tower data shared by an industry executive.
Tiki launched in India after TikTok was banned. Dol Technologies’ video app’s funding is unknown.
TechCrunch reported that many industry executives believed the firm was a loose subsidiary of one of the Chinese video apps New Delhi banned in mid-2020.
“The recent tech industry challenges have led to the closure of numerous startups,” Tiki wrote on social media. The post, signed by ‘Team Tiki,’ stated, “Despite being a small startup operating in Singapore and India, Tiki has always stood for being a place for real talents.”
Tiki shuts down as India’s short video market consolidates and exits. Last year, Times Internet sold MX Player’s short video business to ShareChat, while Xiaomi closed Zili in the country this month.
