Video-sharing startup Clip acquires regional language platform Clorik
Acquisition expected to be completed soon, says Clip Co-Founder Nav Agrawal
Bengaluru: Video-sharing platform Clip, which counts Matrix Partners India and Shunwei Capital among its investors, has acquired crowd-sourced regional language content discovery platform Clorik for an undisclosed amount. The acquisition is in the final stage and is expected to be completed soon, Clip Co-Founder said Nav Agrawal said.
Clip allows users to create, edit and share short 60-second video clips. The app was launched last April, and is currently available in Hindi, Gujarati, Marathi, Bengali, Tamil, Telugu, Kannada, Urdu, Malayalam, Punjabi and English. Clorik is a community-based social network that connects people based on shared interests. Its communities range from business, news and fitness to cooking, Bollywood and devotional.
“We wanted to build it together. They joined our team and together we wanted to build a social network for the next 500 million of India’s population, mostly non-English speaking,” Agrawal added.
The video-sharing company raised around $1 million in seed funding from India Quotient and Shunwei Capital last July. In December, it raised around $6 million in a Series A funding round led by Matrix Partners India, with participation from existing investors. It is not actively looking to raise funds at this stage.
The Clip app currently has over 10 million installs on Play Store, while Clorik has more than 100,000 users. Clorik’s primary focus is Hindi, but the platform is available in 10 languages.
Clorik’s founders, Shivani Maheshwari and Sunil Kumar, will join Clip’s team and both apps will continue to be available separately for download on Play Store for now.
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