Published On: Mon, Feb 22nd, 2021

Twitter explored shopping India’s ShareChat and branch Moj into a tellurian TikTok rival

Twitter recently hold talks to acquire Indian amicable media startup ShareChat as a association explored ways to enhance a participation in a world’s second largest internet marketplace and build a tellurian opposition to TikTok, 3 sources informed with a matter told TechCrunch.

The American firm, that is already an financier in Bangalore-based ShareChat, charity to buy a five-year-old Indian startup for $1.1 billion and had committed an additional investment of $900 million, dual of a sources said. ShareChat, corroborated by Lightspeed Partners India, Elevation Capital, and India Quotient among others, has lifted about $260 million to date.

The talks did not manifest into a deal, dual sources said, requesting anonymity as a matter is private. TechCrunch could not establish a reason a dual companies finished a talks.

Two sources pronounced Twitter had voiced goal to take Moj, a short-form video app that ShareChat owns, to general markets and position it as a opposition to Chinese app TikTok.

Twitter declined to criticism and ShareChat did not respond to a ask for comment.

India’s anathema on TikTok final year stirred scores of internal startups and general giants to try their hands during short-form video format.

Moj, with over 80 million users already, has emerged as one of a largest players in a category. Earlier this month, Snap inked a understanding with ShareChat to confederate a Camera Kit into a Indian brief video app. This is a initial time Snap had shaped a partnership of this kind with a organisation in India.

With a buyout offer no longer being entertained, ShareChat has resumed talks with other investors for a new financing round. These investors embody Google, Snap, a sources said.

TechCrunch reported in Jan that a Indian startup was articulate to Google and Snap as good as some existent investors including Twitter to lift over $200 million. A intensity merger by Twitter enlarged a investment talks.

ShareChat, that claims to have over 160 million users, offers a amicable network app in 15 Indian languages and has a vast following in tiny Indian cities and towns, or what try entrepreneur Sajith Pai of Blume Ventures impute as “India 2.” Very few players in a Indian startup ecosystem have a strech to this shred of this population, that interjection to users from even smaller towns and villages — called “India 3” — removing online has stretched in new years.

In an talk with TechCrunch final year, Ankush Sachdeva, co-founder and arch executive of ShareChat, pronounced a startup’s marquee app was flourishing “exponentially” and that users were spending, on an average, some-more than 30 mins a day on a service.

Twitter, itself, has struggled to make inroads outward of bigger cities and towns in India. Its app reached about 75 million users in a nation in a month of January, according to mobile discernment organisation AppAnnie, information of that an attention executive common with TechCrunch. It inked a understanding with news and amicable app Dailyhunt to move Moments — curated tweets regarding to news and other internal events — to a Google-backed Indian app.

The American amicable network has broadened a product charity in a past year amid vigour from romantic investors to accelerate growth.

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