ETtechAdar Poonawalla, the chief executive of vaccine maker Serum Institute of India, has picked up a 20% stake in Wakau Interactive, a subsidiary of digital entertainment and technology company JetSynthesys, for an undisclosed sum.
Wakau is a community-driven social media platform that offers a combination of mobile-first screen experience and short-video content in the entertainment and fashion domains, with an associated video-commerce element.
Prior investors in the venture include actor Amitabh Bachchan.
“New content formats like short entertainment and fashion videos are gaining wide scale popularity and Wakau, leveraging its advanced AI-based tech stack, has made it so easy, creative, fun and safe for consumers with its high levels of personalization…,” Poonawalla said.
Wakau currently has over 500,000 daily user engagement events and can serve over one million users concurrently.
It leverages various AI/ML service offerings from Amazon Web Services in combination with in-house developed data science models to maintain content quality, filter out inappropriate content to provide a safer experience for users, develop new features and designs based on user requirements.
“It empowers the creator community with both distribution and monetization of content through new-age mechanisms like NFTs (non-fungible tokens). Short video sharing social media platforms have been seeing great traction from users since the last couple of years,” said Rajan Navani, vice chairman and managing director, JetSynthesys.
Wakau is a community-driven social media platform that offers a combination of mobile-first screen experience and short-video content in the entertainment and fashion domains, with an associated video-commerce element.
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“New content formats like short entertainment and fashion videos are gaining wide scale popularity and Wakau, leveraging its advanced AI-based tech stack, has made it so easy, creative, fun and safe for consumers with its high levels of personalization…,” Poonawalla said.
Wakau currently has over 500,000 daily user engagement events and can serve over one million users concurrently.
It leverages various AI/ML service offerings from Amazon Web Services in combination with in-house developed data science models to maintain content quality, filter out inappropriate content to provide a safer experience for users, develop new features and designs based on user requirements.
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“It empowers the creator community with both distribution and monetization of content through new-age mechanisms like NFTs (non-fungible tokens). Short video sharing social media platforms have been seeing great traction from users since the last couple of years,” said Rajan Navani, vice chairman and managing director, JetSynthesys.
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