Adar Poonawalla takes a 20% stake in video-sharing platform Wakau

Serum Institute of India (SII) CEO Adar Poonawaalla has bought a 20% stake in Wakau Interactive, a short video sharing platform and subsidiary of JetSynthesys.

Wakau is a community driven social media platform that offers a combination of mobile screen experience and short video content in entertainment and fashion with an associated video commerce element.

Wakau currently has over 4 lakh of user-generated videos and a song library with over 10,000 selected regional and major songs for short videos. Wakau currently has over 5 lakh daily user engagement events.

The amount and financial details of the transaction are not disclosed. Poonawalla joins Bollywood superstar Amitabh Bachchan who also owns a stake in Wakau.

“New content formats such as short entertainment and fashion videos are gaining popularity at scale and Wakau, leveraging its advanced AI-based technology stack, has made it so easy, creative, fun and safe for consumers with its high levels of personalization. I would like to congratulate the team on the AI ​​award and am excited to join this behemoth of possibilities with Wakau as it embarks on its next phase of growth,” said Adar Poonawalla.

Rajan Navani, Vice President and General Manager of JetSynthesys, said Wakau was created for one purpose: to entertain users and promote creativity.

He added, “It allows the creator community to distribute and monetize content through new era mechanisms such as NFTs. of users for the past two years. The company has consistently leveraged various AI/ML service offerings from AWS in combination with internally developed data science models to maintain content quality, filter out inappropriate content for provide a safer experience for users, develop new features and designs based on user needs, and serve the best content according to user preference and interest while keeping users engaged. Adar has been aware of the work of team performed so far and sees the huge potential of the platform. We are excited to have him with us on the journey in an official capacity now,” said alongside Big B, and we look forward to reaching new milestones together for Wakau in the future.”

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Shirley K. Rosa