Google in talks to acquire ShareChat for a whopping $1.03 Bn!
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Google in talks to acquire ShareChat for a whopping $1.03 Bn!. This would be the largest acquisition of a startup in India by a Global Giant after Walmart acquired Flipkart for $16 Bn.
Homegrown Social Media platform enables users to share jokes, videos, stories, etc. So what makes them different? No English content! Only in Hindi & other regional languages.
ShareChat’s formidable numbers :
• Valuation: ~$650 Mn
• Total Downloads: ~3 Cr+
• MAUs: ~160 Mn. After the government banned TikTok, ShareChat launched their ingenious short video sharing platform – ‘Moj’
Moj was coded in just 30 hours & got a staggering 10Mn+ downloads in 6 days!. It has since scaled up with 50Mn+ downloads on Playstore alone.
So, what worked for this silent giant?
• Making their product for Bharat, not India. They just focused on new internet users from tier 2 & 3 cities, a highly under-penetrated market. ShareChat was a formidable giant even before the TikTok Ban. The ban just accelerated their growth 2x. ShareChat had grown too big to go unnoticed. This strategic acquisition would work wonders for both parties.
• Their revenues are very negligible given their size. Google brings with them a proper monetization plan, particularly Ads!
Do we have a new poster boy for our startups?
