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'Local TikTok' in India crosses 30 million downloads

THE company behind a homegrown short-video sharing platform in India, rival to TikTok, said its social app crossed 30 million downloads in just three months.

Chingari, which allows people to record and share short video clips, in a statement said it has also added augmented reality (AR) filters on its platform to give content creators more advanced front and rear camera tools to work with.


Majority of its users are in the 18-35 years category, the statement further said.

Launched in November 2018, the Chingari app currently registers two-three million daily active users.

Besides, English and Spanish, the Chingari content is available in Hindi, Bangla, Gujarati, Marathi, Kannada, Punjabi, Malayalam, Tamil, Odia, and Telugu.

According to the made-in-India company, the app is steadily increasing its user base in the UAE, the US, Kuwait, Singapore, Saudi Arabia and Vietnam.

On June 29, Indian government banned 59 Chinese apps, including TikTok, leaving over 200 million users of the short video app feeling a little bereft and many lost their earnings.

After this, many homegrown apps including Chingari, Roposo and Rizzle have witnessed an increase in demand.

Recently, Sumit Ghosh, founder of Chingari, said that TikTok ban has provided the company an opportunity to grow, and the company focuses to build micro creators.

Chingari app was rebranded and redesigned in June 2020. Its downloads crossed over 25 million on 21 July 2020.

In 2020, Chingari was rated as one of Google Play’s best entertainment applications, with a 4.1-star rating.

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Frasers slams Debenhams over £222 million pay scheme

Highlights

  • Debenhams pushes ahead with executive pay scheme worth up to £222 m without shareholder approval.
  • CEO Dan Finley could earn up to £148 m if share price reaches £3 over next five years.
  • Frasers Group, holding 29.7 per cent stake, calls move "utterly disgraceful" amid long-running corporate tussle.
Struggling British online fashion retailer Debenhams has sparked outrage from its biggest investor after deciding to implement a new executive pay scheme worth up to £222 million without seeking shareholder approval.

Frasers Group, which holds a 29.7 percent stake in Debenhams, condemned the move through its chief financial officer Chris Wootton on Thursday. "Typical corporate governance from them, utterly disgraceful," Wootton said, criticising the retailer's decision to bypass investors.

Under the new incentive scheme, Debenhams CEO Dan Finley could earn up to £148 m and CFO Phil Ellis up to £14.8 m if the company's share price hits £3 over the next five years. Debenhams shares were trading at 22.25 pence on Thursday, down 3.3 percent.

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