Magazine : 
Microsoft is in Talks to Invest in ShareChat
ShareChat has last raised $100 million from Twitter, which pegged the valuation of the startup at $650 million. The company is currently in talks with Microsoft Corp. for an investment of around $100 million in the Indian content sharing platform. If this deal materializes, then the investment of Microsoft will be about a third of what ShareChat is looking to raise in the latest round of funding, reveals a person aware of this development.
ShareChat is likely to raise funds from existing investors before closing deals with new ones, a second person familiar with the development said. The deal might take a couple of months to close as the talks are at an early stage, this person added. Microsoft’s interest in ShareChat arose when the tech giant is negotiating the purchase of video-sharing app TikTok’s operations in the US and a few other markets from China’s ByteDance.
Microsoft is now also looking to acquire TikTok’s services in India and Europe. The US-based company initially said that it is in preliminary talks to acquire TikTok’s operations in the US, Canada, Australia and New Zealand. If the Microsoft deal doesn’t work, then ByteDance could sell the India business to foreign investors or Indian buyers.
What gives this story a turning point is that ShareChat launched its Moj video-sharing service just a day after the Indian government banned TikTok. Helo, another app owned by ByteDance, competes with ShareChat.
With a motto of believing in what people make possible, Microsoft’s mission is to empower every person and every organization on the planet to achieve more. Microsoft Corporation is an American multinational technology company with headquarters in Redmond, Washington. It develops, manufactures, licenses, supports, and sells computer software, consumer electronics, personal computers, and related services. Its best known software products are the Microsoft Windows line of operating systems, the Microsoft Office suite, and the Internet Explorer and Edge web browsers. Its flagship hardware products are the Xbox video game consoles and the Microsoft Surface lineup of touchscreen personal computers.
ShareChat is much more than a set of features or products. It is a way of building and solving problems. ShareChat is India’s largest regional social network allowing users to share their opinions, record their lives and make new friends – all within the comfort of their native languages. The company also empowers every individual by enabling them to share experiences, voice opinions, build relevant communities and discover new trends & opportunities in the comfort of their native language.
