Josh aims to break even in 18 months; eyes IPO After 4 quarters
The company has already made significant strides in monetisation and aspires for sustained growth in the coming years, Umang Bedi said.
Short video platformaims to break even in the next 18 months, revealed Umang Bedi, Co-founder of parent , at TechSparks 2023.
"Our video networking business nears breakeven, where we are aiming for another four quarters of consistent performance, showcasing quarter-on-quarter improvements. The goal is to gather substantial data demonstrating scaled business operations before considering an IPO," said Bedi, who also heads the profitable news aggregator Dailyhunt.
He added that short video platforms help drive growth in the creator economy with monetisation. The content creation and social networking industry necessitates substantial capital, advanced technology, AI integration, and efficient marketing processes, along with collaborating with a network of content creators, Bedi noted
Josh has started monetising at a fairly good scale with growth in mind and aspires for sustained growth in the coming years, he added.
Launched in 2020, Josh is a homegrown short video app that was launched amidst the ban of TikTok and other Chinese apps. The monetisation potential for short video apps like Josh could reach up to $19 billion by the year 2030, states a report by management consulting firm RedSeer Consulting.
According to media reports, the app has seen an increase of 62% in user base since its collaboration with Bengali film, television and OTT content production house SVF (Shree Venkatesh Films) Entertainment. The partnership in 2019 was a bid to generate more hyperlocal regional language content and creators from eastern India.
Edited by Kanishk Singh