We had assumed a few months ago that Microsoft has been forced to bid on TikTok by their relationship with the US Government, but it seems in fact that Microsoft is pretty interested in getting involved in short-form video social networking.
The Economic Times of India reports that Microsoft has joined a $100 million funding round for Verse Innovation, owner of Josh, together with companies like Google, giving Verse Innovation a valuation of $1 billion.
Verse Innovation’s Josh is aiming to fill the gap left by the ban of TikTok in India earlier this year and already has more than 77 million monthly active users.
Verse hopes to use the funds to scale up Josh and improve its AU recommendation engine.
VerSe also owns DailyHunt, local news and video service, and also received investment from AlphaWave, a part of global asset manager Falcon Edge Capital and existing investors Sofina Group and Lupa System.