Serum Institute of India’s CEO Adar Poonawaalla has picked up a 20% stake in Wakau Interactive Pvt Ltd- A JetSynthesys subsidiary. The community-driven social media platform Wakau offers a combination of mobile-first screen experience and short video content in entertainment and fashion domains with an associated video-commerce element. Poonawalla joins Bollywood actor Amitabh Bachchan as Wakau investors. “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 personalisation,” Adar Poonawalla, chief executive officer, Serum Institute of India, said.
With over four lakh curated user-generated videos and a song library featuring more than 10,000 curated regional and main media songs for short videos, Wakau currently has more than five lakh daily user engagement events. Created with a mission to entertain and promote creativity, Wakau boasts of an excellent user-experience on the back of personalization and cutting-edge technology. The platform claims to have a strong regional focus on content curation and song gallery.
According to Rajan Navani, vice chairman and managing director, JetSynthesys, short video sharing social media platforms have been seeing great traction from users since the last couple of years. “We created Wakau with one goal, to entertain users and promote creativity. It empowers the creator community with both distribution and monetisation of content through new-age mechanisms like NFTs. We’ve consistently leveraged various AI/ML service offerings from AWS 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 and serve the best content as per the user’s preference and interest while keeping them engaged,” he added.