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The Silicon Review Asia

Snap Inc. collaborates with Google to invest in ShareChat

Snap Inc. collaborates with Google to invest in ShareChat

After Google, Snap Inc. is in talks with Indian social media firm ShareChat for a minority stake. According to recent report, Google and Snapchat’s parent are in advanced stages to pump in more than $200 million in ShareChat’s Series E round at a valuation of more than $1 billion. As of September, ShareChat had exceeded over 160 million MAUs with the average daily time spent by users on the platform at 31 minutes while Moj had garnered over 80 million MAUs.

ShareChat’s had raised $40 million in a pre-Series E round in September. Till date, ShareChat has scooped up over $260 million across equity rounds.  If the deal goes through, the Twitter-backed company will count three tech giants and two social media giants as its backers.

Ever since the ban on TikTok in India, home-grown short video apps, including Moj, have been growing rapidly. It was also one of the top three most downloaded apps between October 23 and November 22. According to data sourced from Sensor Tower, Josh was downloaded more than 12 million times followed by Moj’s 8.14 million and MX TakaTak’s 6.9 million during the one month period.

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