Serum Institute's Adar Poonawalla picks up 20% stake in social media platform Wakau

Serum Institute of India's chief executive Adar Poonawalla has picked up a 20% stake in Wakau Interactive Pvt Ltd, a Pune-based community-driven social media platform. It offers a combination of mobile-first screen experience and short video content in entertainment and fashion domains with an associated video-commerce element. Actor Amitabh Bachchan is one of the investors in Wakau. Wakau was launched by digital entertainment and technology company JetSynthesys. Wakau claims to have more than 5 lakh daily user engagement events. It has 4 lakh-plus curated user-generated videos and a song library featuring over 10,000 curated regional and main media songs for short video, along with 25,000-plus named birthday songs for personalized greeting creation. The platform claims it can serve over one million users concurrently.