Tiki, a social media platform, will close its doors at the end of this month.
“We regret to inform you that Tiki will shut down its operations. As of 11.59 PM India time, June 27, 2023, all Tiki functions and services will cease,” wrote Tiki in a Twitter post.
Tiki is the second short video app with a Chinese connection to shut down this year. Zilli, which is owned by Xiaomi, declared in February 2023 that it would cease operations in India.
Although the company gave no specific justification for the closure, a lack of adoption (measured by daily active users), a lack of a revenue stream, and the government’s crackdown on apps with ties to China all seem to be likely factors. Additionally, there has been intense competition in the short video market, with players from India such as ShareChat and DailyHunt raising billions of dollars in the previous year.
Tiki, which debuted in early 2021, has received over 124 million downloads from the Google Play Store and iOS, with nearly 99% of those coming from Android. Tiki managed to rank among the top 30 most successful apps in India. Additionally, it was ranked eighth among the most widely used free social apps.
Tiki was released in India shortly after TikTok, and other Chinese apps were outlawed in June 2020. DOL Technologies Pte Ltd, a Singapore-based company, managed the brief video app.
Tiki’s closure comes at a time when many short-form video apps are having trouble growing and generating revenue. The financial results of DailyHunt and Sharechat in FY22, as well as the consolidation in the industry, may have revealed this.
