Chingari joins hands with Amazon to venture into video commerce
Chingari has become the first short video app globally to make short videos shoppable via AI/ML
According to a Business Standard report, Chingari is eyeing a revenue of $100 million annually in the next two years from video commerce. Apart from Amazon, it is also looking to partner with Flipkart and Myntra by the next quarter. It is also in talks with direct-to-consumer brands for a tie-up.
"Introducing video-commerce on Chingari short videos. Every video that gets uploaded to Chingari is parsed frame by frame and all detected objects are then matched with a live catalog of Amazon and each video becomes shopping enabled in real-time by the time it hits your feed," Chingari Co-Founder and CEO Sumit Ghosh announced on Twitter.
He further stated that millions of videos on Chingari will become shoppable. Revenue generated from the videos will be shared with creators. "This will make millions of videos on Chingari Shoppable and will generate affiliate revenues for the creators, a part of the revenues will be shared with the creators, making Chingari creator economy a full circle economy where creators get paid if their content makes money."
Ghosh also asserted that Chingari has become the first short video app globally to make short videos shoppable via AI/ML. "When we gained popularity last year after the TikTok ban, we were just being called clone/copycat and no one thought we could build anything innovative, we are proud to launch this feature and become the first short video app globally to make short videos shoppable via AI/ML."
He also revealed that the technology to enable shoppable videos has been built in India. "This is all AI/ML, Computer Vision, and some very complex algorithms all built by a team here in Bangalore/Mumbai. i.e Made in India.'
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