Google Reportedly Looking to Buy Indian Social Media Platform ShareChat - hartmanblide1962

Google has time and again stated that the 'next billion Internet users' wish come from Republic of India. The American giant is superficial to partake in in this growth and Indian social media platform ShareChat could constitute the perfect pick. As per the latest ET Forthwith story, Google is looking to acquire ShareChat for over a billion dollars.

The report cites a generator working on the proposed transaction and reveals that the negotiation are currently in advanced stages. The due diligence is now underway. Google is looking to shell out a big $1.03 billion (~Rs. 7,400 crores) for ShareChat, which is a significant premium over its previous evaluation. ShareChat was valued at closely $650 million when Chitter invested in the company.

ShareChat declined to comment along the rumor piece Google e-mailed the standard 'we act not notice on market speculation and rumors' statement to the media. Now, you moldiness be speculative – why is Google interested in purchasing ShareChat?

ShareChat, for those unaware, is a 'Ready-made in India' social media platform that has been competing with the likes of Facebook and TikTok. The app is procurable in 15 languages, offering an experience closer to home for many users. ShareChat had been operating as a regional alternative, connecting Tier-II and Tier-III netizens every bit opposed to wholly Tier up-I English speakers.

The big breakthrough for ShareChat, nonetheless, came during the COVID-19 epidemic. The app was averaging some 60 million monthly users anterior to the epidemic. But, this phone number went up to 160 million active monthly users, which is a 166% spike in userbase over the past six-odd months. The average fourth dimension spent on the platform has also ballooned to 31 minutes from 24 minutes prior to the lockdown. The skyrocketing increase seems to birth attracted Google's attention.

Apart from ShareChat, the ship's company latterly launched a short video app titled Moj to fill the gap left behind by the TikTok proscription (along with 59 other apps) in India. This app looks and whole shebang exactly care Tiktok. It has already amassed over 50 million downloads on just Mechanical man devices over the ago four months, which is just idea-blowing.

Google hasn't been able to fles a strong comportment in the social space ended the past few years. Google+ besides was conveyed to the grave earlier this year. And now, the Loads Perspective giant has set its sight on ShareChat to once again test the amniotic fluid in the social media infinite.