Twitter explored buying India’s ShareChat and turning Moj into a global TikTok rival – TechCrunch

Summary (IA Generated)

Twitter recently held talks to acquire Indian social media startup ShareChat as the company explored ways to expand its presence in the world’s second largest internet market and build a global rival to TikTok, three sources familiar with the matter told TechCrunch.

The American firm, which is already an investor in Bangalore-based ShareChat, offered to buy the Indian startup for $1.

Two sources said Twitter had expressed intention to take Moj, a short-form video app that ShareChat owns, to international markets and position it as a rival to Chinese app TikTok.

Earlier this month, Snap inked a deal with ShareChat to integrate its Camera Kit into the Indian short video app.

These investors include Google, Snap, as well as Tinder-parent firm Match Group, the sources said.

TechCrunch reported in January that the Indian startup was talking to Google and Snap as well as some existing investors including Twitter to raise over $200 million.

ShareChat, which claims to have over 160 million users, offers its social network app in 15 Indian languages and has a large following in small Indian cities and towns, or what venture capitalist Sajith Pai of Blume Ventures refer as “India 2.

Its app reached about 75 million users in the country in the month of January, according to mobile insight firm AppAnnie, data of which an industry executive shared with TechCrunch.