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VerSe Innovation Acquires Indian Social Networking App GolBol

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VerSe Innovation, which owns popular apps namely DailyHunt and Josh, a short video app, declares its acquisition over an Indian social networking app named GolBol. This means that the social networking app’s team including its co-founders named Shanu Vivek, Karandeep Singh Gujral and Kaushik Mahato are joining hands to give a boost in the modernization and multiplication of the app Josh.

In 2019, GolBol, a social media network, was founded with the goal of connecting Indian users in Indian languages such as Hindi. The GolBol team is well-versed in the strategies that allow varied users to socialize with digital content, according to the company, and will focus their efforts on improving Josh Cam, a mobile video editing tool.

“The team will also drive efficiencies in AI and machine learning to build UGC (user generated content) discovery initiatives that have the power to detect quality content from a stream of several thousand videos and classify these videos at scale so that users on Josh can enjoy the most up-to-date, unique, and authentic content experiences”, says the company.

The moment when India’s TikTok craze was put to end by banning it, that’s when VerSe introduced the short-video app Josh to the Indian audience.

"The simple idea behind GolBol was to encourage local language users to share their life online through an easy-to-use platform. We had bigger ideas and wanted to find a way to meet Bharat's diversified content requirements. Josh's leadership's ambition and clarity of thought convinced us that this was the appropriate fit”, expresses Shanu Vivek, CEO and Co-founder, GolBol.

Cognirel Technologies, an AI firm, and Vebbler, a photo and video sharing software, were previously bought by the company. In the short video platform space, this represents the start of consolidation.

"VerSe's clear growth strategy for Josh, grounded in an entrepreneurial mindset, has motivated this alliance with some of India's brightest minds and passionate innovators who understand how Bharat consumes, creates, and engages with content”, states Shailendra Sharma, SVP Product & Engineering, VerSe Innovation.

The current acquisition is in keeping with VerSe Innovation's goal of developing digital capabilities to meet Bharat's unmet content needs, and it comes at the end of a year in which the company also acquired AI firm Cognirel Technologies and photo and video sharing app Vebbler.

Vivek and his team will concentrate their efforts on improving Josh Cam, a mobile video editing program developed specifically for short-video users and makers. The team will also employ AI and machine learning to improve UGC discovery activities, ensuring that Josh users have real content experiences.

"The simple idea behind GolBol was to encourage local language users to share their life online through an easy-to-use platform. We had bigger ideas and wanted to find a way to meet Bharat's diversified content requirements. Josh's leadership's ambition and clarity of thought convinced us that this was the appropriate fit”, expresses Shanu Vivek, CEO and Co-founder, GolBol.

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