Lokal Launches New App Dostt for Secure Conversations
Hyperlocal social media platform Lokal has unveiled a new application named Dostt, which enables 1-to-1 voice and video calls while ensuring user anonymity. This is one among a series of applications that the company plans to introduce throughout the upcoming year, according to co-founder Jani Pasha.
About the Dostt App
The Dostt application is crafted as a secure and private space featuring verified profiles and a varied community. Its primary goal is to create a safe environment for discussions relating to relationships, love, career, and more. The app is targeted at users between the ages of 18 and 45 who speak native languages.
Expansion Plans
Pasha mentioned that the company is in the midst of expanding its app offerings across different categories, with a plan to launch 40 new apps in fields such as astrology, emotional wellness, matrimony, and legal services in 2024.
Recent Launches
In addition to Dostt, Lokal has introduced Eaze, an application aimed at emotional wellness, and Gyan TV, a skill-based learning platform akin to Seekho, which provides courses on stock trading, photography, and various other subjects.
Funding and Market Position
Lokal, supported by investors like Tencent, 3one4 Capital, Y Combinator, RB Investments, and India Quotient, delivers location-based news to vernacular audiences. The platform allows users to download videos, set WhatsApp statuses, receive updates on employment exam preparations, and stay updated on real estate and commodity prices.
Competition
Lokal is set to compete with ShareChat’s recently launched application, Vibely, which features similar functionalities, in addition to rivals like Alyke, FRND, and Clarity. EloElo, backed by WaterBridge and Kalaari Capital, has also emerged as a notable contender in this sector.
Opportunities and Challenges
For companies such as ShareChat and Lokal, these independent applications offer new avenues for generating revenue, especially as their primary social media advertising ventures face hurdles. This strategic shift appears to be more of a reaction to competition than a deliberate initiative, likely due to the minimal investment required.
Company Background
Established in 2018 by Jani Pasha and Vipul Chaudhary, Lokal has raised approximately $30 million to this date, positioning it against direct competitors like InShorts’ Public app and Dailyhunt’s PublicVibe. For the fiscal year ending in March 2024, Lokal reported a slight rise in its operating revenue to Rs 18.58 crore, alongside a reduction of its losses by 36%.
It will be intriguing to observe the financial impact of the Dostt app on the company; however, expectations should be tempered due to the competitive nature and the challenges associated with monetising this market.