Frankly.me, a video microblogging platform, has laid off 40 employees from its Delhi office where it is based, reports NextBigWhat. In January this year, the company had raised $600,000 in funding from Matrix Partners for product development and user acquisition. At that time, the startup had 15 employees, as indicated by this YourStory report.
Targeted mostly towards public figures like actors, politicians, sportsmen etc, the platform lets users and celebrities create short videos in response to questions asked by users across categories like fashion and entertainment, campus, technology, music, business, politics etc. In January, Frankly claimed to have 25,000 registered users, adding 1,500 users every day. As of now, the platform has Kiran Bedi, Vikas Khanna, Kunal Bahl, Naveen Tiwari and Javed Akhtar among other RJs, anchors, journalists, actors, YouTube creators, actors and models.
The Android app seems to have a 100,000 downloads and offers a video editor through which users can create videos and dub them in Hindi, Tamil, Telugu, Bhojpuri, Punjabi and English. It also lets users access movie dialogues from Hindi and south indian movies, add filters etc.
The online video space:
Twitter, Periscope and Vine: In September, Twitter added a new discovery feature to its video sharing service Vine that lets users explore songs in the new featured tracks section. In August, Periscope, Twitter’s live streaming app, claimed to have surpassed 10 million user accounts on 2 August. Twitter acquired Periscope in March this year for an undisclosed sum, possibly a cash and stock deal. In June, Microblogging platform Twitter rolled out ads which will automatically play videos when users are scrolling on their timelines.
YouTube: Last week, YouTube launched a new app called YouTube Music with an aim to increase its dominance in the online music videos space. YouTube Music is free and ad-supported, but users can also sign up for a YouTube Red subscription which will remove ads on the app and allow streaming of songs in the background. Last month, it launched a new paid service called YouTube Red which would allow users to watch videos without ads, original content and listen to music.