new Delhi. Microsoft can invest about $ 100 million in India's regional-language social media app Sharechat. According to people familiar with the matter, the talks are at an early stage and Microsoft's investment will account for about a third of the app's value. Sharechat is funding anew for its expansion.
Sharechat has a user base of more than 14 million monthly active users in the country. The app is available in 15 languages, including Hindi, Malayalam, Gujarati, Marathi, Punjabi, Telugu, Tamil, Bengali, Odia, Kannada, Assamese, Haryanvi, Rajasthani, Bhojpuri and Urdu. Sharechat is a native app, available in a total of 15 local languages and has become quite popular. This is why Twitter has invested $ 100 million in Sharechat before Microsoft.
Sharechat said last month that its short video sharing platform Moj (MOJ) had crossed 50 lakh downloads from the Google Play store in just a week. This app was launched in the market after TikTok was banned. The regional-language social media platform had completely relocated or migrated its infrastructure to Google Cloud to improve its efficiency and reduce costs.
A large proportion of the active users of this app are from tier-2 and tier-3 cities, most of which depend on 2G networks. The news comes at a time when Microsoft is reportedly aiming to gain global business of Chinese short-video making app TickTalk, including India, where the app is banned.
According to The Financial Times, Microsoft is officially considering buying TickTock's operations in North America, Australia and New Zealand for $ 50 billion. Meanwhile, US President Donald Trump has signed a ban on TickTock and WeChat on Thursday. At the same time, Microsoft has already confirmed that it intends to proceed with negotiations to buy TickTock's US business. The deal could be settled around September 15 after discussions between Microsoft CEO and US President.
This post was published on August 7, 2020 8:50 pm
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