Twitter explored shopping for India’s ShareChat and turning Moj into a world TikTok rival – TechCrunch
Twitter lately held talks to amass Indian social media startup ShareChat as the corporate explored methods to broaden its presence on the planet’s second largest web market and construct a world rival to TikTok, three sources aware of the matter instructed TechCrunch.
The American agency, which is already an investor in Bangalore-based ShareChat, provided to purchase the five-year-old Indian startup for $1.1 billion and had dedicated a further funding of $900 million, two of the sources mentioned. ShareChat, backed by Lightspeed Companions India, Elevation Capital, and India Quotient amongst others, has raised about $260 million so far.
The talks didn’t materialize right into a deal, two sources mentioned, requesting anonymity because the matter is non-public. TechCrunch couldn’t decide the rationale the 2 corporations ended the talks.
Two sources mentioned Twitter had expressed intention to take Moj, a short-form video app that ShareChat owns, to worldwide markets and place it as