Google’s move is seen as bid by the tech giant to increase it traction in vernacular content space
ShareChat had recorded a 166% spike in its monthly active users base from 60 Mn during the pandemic to 160 Mn till now
The company had launched a short video app of its own called Moj in July 2020
Tech giant Google is reportedly planning to buy out Bengaluru-based social media platform ShareChat for $1.03 Bn.
In August 2020, when news was rife that Microsoft may invest in the $100 Mn a funding round, reports suggested that ShareChat was valued at $650 Mn.
This speculation comes after ShareChat has recorded a 166% spike in its monthly active users base from 60 Mn during the pandemic to 160 Mn till now. Over these months, the daily average user time spent on the platform has also increased from 24 minutes to 31 minutes, the company’s cofounder and CTO Bhanu Pratap Singh had told Inc42.
While ShareChat declined to comment on the development, a Google spokesperson told ET Now that it…