 "VerSe Innovation acquires social networking app GolBol for undisclosed sum")
VerSe Innovation, parent company of DailyHunt and short-video app Josh, announced the acquisition of GolBol, a social networking app. The financial details of the deal were not disclosed.
GolBol’s entire team including co-founders Shanu Vivek, Karandeep Singh Gujral and Kaushik Mahato will join VerSe to help accelerate the work being done to modernise and multiply the impact of Josh.
Shailendra Sharma, SVP Product & Engineering at VerSe Innovation, said, “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."
Vivek and the team will focus their efforts on enhancing Josh Cam – a mobile video editing app designed exclusively for users and creators of the short-video ecosystem. The team will also drive efficiencies in AI & ML to build UGC discovery initiatives so that users on Josh enjoy authentic content experiences.
“GolBol was born from the simple idea to motivate local language users to share their lives online through an easy-to-use product. We had larger plans and wanted to solve for Bharat’s diverse content needs. The ambition and clarity of thought demonstrated by the leadership at Josh convinced us that this was the right fit," said Shanu Vivek, CEO and Co-founder of GolBol.
This acquisition is in line with VerSe Innovation’s vision to build digital capabilities to serve Bharat’s unmet content needs, bookending the year that also saw its acquisition of AI-startup Cognirel Technologies and photo and video sharing app, Vebbler.
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