Serum Institute of India chief Adar Poonawalla picks up stake in Wakau
The Serum Institute of India’s chief Adar Poonawalla has acquired a 20% stake in interactive social media and commerce platform, Wakau Interactive -- a JetSynthesys subsidiary.
“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,” said Poonawalla, the Times of India reported. “I’d like to congratulate the team on the AI award and am delighted to join this juggernaut of possibilities with Wakau as it sets off on its next phase of growth.”
Wakau Interactive was launched by digital entertainment and technology business JetSynthesys and offers users a mobile-first screen experience for short form video content in entertainment and fashion categories. The platform also includes a video commerce function to tap into the growing social commerce market.
The platform currently has a user base of over one million with around 5,000 daily uploads.
“Adar has been privy to the team’s work done so far and sees the tremendous potential that the platform has,” said JetSynthesys managing director Rajan Navani, the Times of India reported. “We’re thrilled to have him with us on the journey in [an] official capacity now.”
Copyright © 2022 FashionNetwork.com All rights reserved.