Bengaluru, NFAPost: Amid all the brouhaha over the Microsoft-TikTok deal talks, the Satya Nadella-run enterprise is all set to invest about $100 million in the home-grown regional language social media app ShareChat.
Microsoft’s investment will be nearly a third of the value ShareChat is looking to raise in its latest funding round.
People familiar with the matter said that the talks are in the early stages and Microsoft’s investment will be nearly a third of the value ShareChat is looking to raise in its latest funding round.
ShareChat having a user base of over 140 million monthly active users in the country did not respond to an email query. The app is available in 15 languages, including Marathi, Hindi, Malayalam, Gujarati, Punjabi, Telugu, Tamil, Bengali, Odia, Kannada, Assamese, Haryanvi, Rajasthani, Bhojpuri and Urdu.
Investment from Twitter
The Bengaluru-based regional language social platform became so popular that even Twitter came onboard when the four-year-old company raised $100 million in its Series D round of funding last year.
ShareChat said last month that its short video sharing platform Moj has crossed five million downloads from Google Play Store in just about a week since the beta version of the TikTok rival was released.
The regional language social media platform in June fully migrated its infrastructure to Google Cloud in a bid to improve efficiency, reduce costs and enhance the overall performance of the app.
A large proportion of its active users hail from tier-2 and tier-3 cities, with the majority of them relying on 2G networks.