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Sunday, 9 August 2020

After Tiktok, now look at Microsoft's native app ShareChat, which can cost Rs. 750 crore investment

After Tiktok, now look at Microsoft's native app ShareChat, which can cost Rs. 750 crore investment



  • If this deal is done, it will be one third of the total valuation of the sharechat



New Delhi. While American tech giant Microsoft is in the final stages of negotiating the purchase of Tiktok, there are reports that it will also invest in ShareChat. According to the report, Microsoft Corporation may invest 10 100 million (approximately Rs. 750 crore) in ShareChat. However, Sherchat has declined to comment.


Attempts to obtain investment from existing investors


Sharechat is trying to get money from its existing investors. Instead of shaking hands with a new investor he is in discussions with old investors. Earlier, Twitter had invested 10 100 million (approximately Rs 750 crore) in ShareChat. The company was valued at 65 650 million (approximately Rs 48,000 crore) at the time.



Sources said the talks are at an early stage and if the deal goes through, Microsoft will invest Rs. 750 crore. This investment will help Sherchat grow its business. This is because there are many challenges facing the Indian application after the ban on the Chinese application.


Sharechat is a four year old social media platform


Sharechat is a 4 year old social media platform. The company currently has over 150 million registered users, while more than 60 million monthly active users. Currently, users spend about 25 minutes per day on its platform. This application is available in 15 languages. These include Hindi, Malayalam, Gujarati, Marathi, Punjabi, Telugu, Tamil, Bengali, Oriya, Kannada, Assamese, Haryanvi, Rajasthani, Bhojpuri and Urdu. Share chat is available on both Android and iOS platforms, where users can download and use it.

Launched video sharing app Moj
ShareChat recently launched a video sharing application moj like TikTok. More than 1 million downloads were made before the app was launched for users. So far this app has received over 4 thousand reviews. Sherchet made the decision when the Indian government banned 59 Chinese applications, including TikTok. Moj has been created as an alternative to Tiktok.

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