Josh app maker secures $450 million in funding

Anne Freer | August 13, 2021

App Deals

VerSe Innovation, the company behind the video app Josh and news aggregator Dailyhunt, just raised a whopping $450 million in a new financing round that sharply follows a $200 million round earlier this year.

The company said that its valuation doubled within this time frame and the startup is now valued at over $1 billion and possibly nearing a $3 billion evaluation.

Video app Josh now has some 115 million monthly and 56 million daily active users, the company reported.

This comes on the back of TikTok being banned in India, which saw other video apps swopping in to take some of the market share here.

Meanwhile, Dailyhunt has over 300 million monthly active users.

VerSe Innovation plans to use the funds to create a portfolio of apps for users globally, offering different language versions.

Dailyhunt is already available in 14 languages and features content from more than 100k partners.

At the same time, VerSe Innovation is eyeing artificial intelligence opportunities.

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