Adar Poonawalla buys a 20% stake in Wakau
Serum Institute of India chief Adar Poonawalla has picked up a 20 per cent stake in Wakau Interactive, for an undisclosed sum.
Adar Poonawalla, the CEO of the Serum Institute of India (SII), has purchased a 20% share in Wakau Interactive, a short-video sharing platform and a JetSynthesys subsidiary, for an unknown amount.
As a result, Mr. Poonawalla has joined Wakau’s league of investors, which includes star Amitabh Bachchan. According to an official announcement, the transaction’s financial specifics were not released.
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#AdarPoonawalla (@adarpoonawalla ) picks up 20% stake in JetSynthesys' subsidiary Wakau https://t.co/Uay4dajHTi
— FinancialXpress (@FinancialXpress) December 21, 2021
Wakau, created by JetSynthesys, a digital entertainment and technology company, includes a song collection of over 10,000 curated regional and main media tracks for short videos, as well as over 4 lakh curated user-generated videos.
According to the announcement, Wakau now has over 5 lakh daily user engagement events.
“With its high degrees of personalization, new content forms such as short entertainment and fashion videos are gaining widespread popularity, and Wakau, using its powerful AI-based tech stack, has made it so easy, creative, entertaining, and secure for customers.
Poonawalla said, “I’d like to congratulate the team on winning the AI award, and I’m thrilled to be a part of this juggernaut of possibilities with Wakau as it embarks on its next phase of growth.”