Good morning! Hope y'all had a great Monday, I had the day off and had a nice relaxing chill day. It sounds like some states are opening up in India, but hope y'all are still wearing masks and socially distancing (I went to the beach today and was 10+ ft away from everyone else). Today's edition is also available at https://keepingupwithindia.com/p/77 if y'all prefer the website.
Today we have some news about how a Bike-sharing company is launching a new initiative and how TikTok isn't having a great month.
➡️ Bounce's founders took to Twitter to announce their new partnership with Aether, the EV scooter company. Users can purchase a new scooter from Aether and then list it on Bounce to rent it out on the weekend. This is somewhat akin to Turo & Getaround's model of letting consumers rent out their vehicles. ➡️ Bounce also seems to be moving away from its old inventory to focussing more on EV vehicles, the company recently put out a google form to sell out a lot of its older bicycles. They sold out in a couple of days (which is quite impressive), and the company also generated a nice chunk of change rather than those bikes being a sunk cost. ➡️ With consumers maybe not being as comfortable with shared rides & vehicles, it does seem like Bounce is slowly branching out to new initiatives for the post-COVID world. The company has launched something akin to leasing a vehicle. Users would pay ₹1,650 every month (for 1,500 km) for 12 months and can purchase the vehicle after that. ➡️ It's really cool to see the company build out these new services and product lines and do these pivots relatively quickly. Only time will tell how Bounce would look like in a post-COVID world, but I'm bullish on companies that can adapt to situations relatively quickly and execute on it. 2. https://bit.ly/2ZALJ3b: TikTok downloads slow, and ratings fall ➡️ It honestly hasn't been a great month for TikTok, the YouTube and TikTok controversies have resulted in their PlayStore rating dropping to 1.2 temporarily (it is back to >4 now).
➡️ The app has also been seeing slowing downloads in the last couple of months. March was the most popular month with 35M downloads, April with 23.5M downloads and 17M downloads through the first 23 days in May. ➡️ I would actually say that the controversy didn't impact their download metrics as much (they will probably cross 20M this month), but it will be interesting to see if thousands of users across the country deleted the app in protest. ➡️ On a similar note, #VocalForLocal has been trending in the country and an app called "Mitron", which on WhatsApp forwards is referred to as the Indian TikTok has gotten over 5M downloads. I looked at its reviews and saw that the app has major bugs but people still being keen to keep using the app. ➡️ I honestly don't think this is going to impact TikTok in any major way. The recommendations on the app is unparalleled and I don't see anyone building something similar in a short time period to be able to compete with that. Maybe the "Ban TikTok" movement also results in further boosting the platform. One creator says- "“I got 8 million views for my video in a day, at a time when people were asking for a ban on the app,” said content creator Shivani Kapila who has 9.3 million followers on TikTok. “No way will I be quitting the platform anytime soon.”"
Feedback & ❤️ always appreciated
More tomorrow :) BONUS (Tweet of the day): https://twitter.com/TheHolyKau/status/1264659405833940993