Popular Indian short video platform Tiki is scheduled to halt all operations on June 27, becoming the most recent enterprise unable to seize the opportunities presented by New Delhi’s ban on TikTok in the South Asian region.
Announcing the impending closure, a post from Tiki read: “We regret to inform you that Tiki will be shutting down its operations. As of 11.59 PM India time, June 27, 2023, all Tiki functions and services will cease.”
The unexpected demise of a local giant
The upcoming shut down of Tiki, a platform renowned for showcasing original and locally-focused content, comes as a shock to many. As per data released by Sensor Tower (via an industry insider), Tiki boasted an impressive 35 million monthly active users in India, which remains its sole operational market.
Originating from Singapore, Tiki made its way into the Indian market just as New Delhi implemented the TikTok ban. However, the financial backing of the app, owned by Dol Technologies, still remains shrouded in mystery.
Speculation, challenges, and closure of Indian app: Tiki
Several industry professionals confided in TechCrunch their suspicion that Tiki might be an indirect subsidiary of one of the Chinese video applications banned by New Delhi in mid-2020.
A recent social media post from Tiki highlighted the daunting challenges confronting the tech industry, leading to the termination of countless startups. “Despite being a small startup operating in Singapore and India, Tiki has always stood for being a place for real talents,” the ‘Team Tiki’-signed post read.
This news arrives amidst the rampant consolidation and exits in India’s short video market. Times Internet sold MX Player’s short video business to ShareChat last year, and Xiaomi ceased the operations of its short video platform Zili earlier this month.
We invite our valued readers to share their thoughts on Tiki’s surprising shutdown. How do you foresee this affecting the short video app landscape in India? Please share your insights in the comment section below.
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