Tiki, a condensed video app, will cease operations in India on June 27. South Asian market.
“We are sorry to inform you that Tiki will be ceasing operations. As of 11:59 PM Indian Time, June 27, 2023, all Tiki features and services will be discontinued. wrote Tiki in a message.
Tiki’s demise, with original and locally focused videos, comes as a surprise given that it maintained some 35 million monthly active users in India, its sole operating market, according to data from Sensor Tower (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 funded.
Many industry executives told businessroundups.org they believed the company was a loose subsidiary of one of the Chinese video apps destroyed by New Delhi in mid-2020.
“The recent challenges facing the tech industry have led to the closure of numerous startups,” read a post on Tiki’s social media accounts. “Despite being a small startup operating in Singapore and India, Tiki has always stood for a place for real talents,” said the post, signed by “Team Tiki.”
The end of Tiki comes at a time when the short video market in India is experiencing rapid consolidation and exits. Times Internet sold MX Player’s short video business to ShareChat last year, while Xiaomi shut down its Zili short video offering in the country earlier this month.