By Our Staff
Serum Institute of India CEO Adar Poonawaalla has picked up a 20% stake in Wakau Interactive Pvt Ltd, a JetSynthesys subsidiary. The community-driven social media platform Wakau offers short video content in entertainment and fashion domains with an associated video-commerce element. Poonawalla joins actor Amitabh Bachchan as Wakau’s league of investors. Launched by digital entertainment and technology company JetSynthesys, Wakau has recently bagged AWS’ prestigious ‘Best B2C Innovation Leveraging Amazon AI/ML Services’ award at the Amazon AI Conclave held last week.
Commenting on this development, Poonawalla said: “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 personalization. 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.”
Added Rajan Navani, Vice Chairman & Managing Director, JetSynthesys: “We created Wakau with one goal, to entertain users and promote creativity. It empowers the creator community with both distribution and monetization of content through new-age mechanisms like NFTs. Short video sharing social media platforms have been seeing great traction from users since the last couple of years. Now no longer just a form of expression, the digital realm helps you build connections, a community of followers, and now make a mark in the metaverse. We’ve consistently leveraged various AI/ML service offerings from AWS in combination with in-house developed Data Science models to maintain content quality, filter out inappropriate content to provide a safer experience for users, develop new features and designs based on user requirements and serve the best content as per the user’s preference and interest while keeping them engaged. Adar has been privy to the team’s work done so far and sees the tremendous potential that the platform has. We’re thrilled to have him with us on the journey in official capacity now, alongside Big B, and we look forward to jointly unlocking newer milestones for Wakau in the future.”