Four months after taking a stake in India’s biggest mobile carrier, Google (GOOG) – Get Report is reportedly interested in buying a fast-growing Indian social media firm.
The search giant is in talks to buy startup ShareChat in a deal that could be worth slightly more than $1 billion, according to a report from India’s Economic Times. For comparison, ShareChat was valued at $650 million in a 2019 funding round.
Following strong 2020 growth, ShareChat claims to have more than 160 million monthly active users (MAUs) for its core app. In addition, the company recently launched a short-form video app called Moj, around the time that TikTok was banned in India. Moj is said to have amassed more than 80 million MAUs in less than five months.
ShareChat’s core app lets users share videos and other content through both a core feed and groups that feature chat rooms