Homegrown ShareChat is reportedly in talks with Microsoft for a $100 Million investment. The investment will be a third of the actual funds ShareChat wants to raise. Before this ShareChat raised $100 million from Twitter at a valuation of $650 Million.
However, ShareChat wants to first raise funds from the existing investors before bringing in the new ones. Reportedly, the discussion is still in early stages and it might take a couple of months to finalize the deal.
Microsoft is taking interest in ShareChat at a time when it is also in discussion with Bytedance to acquire Tik Tok’s services in India, North America, Australia, and New Zealand.
ShareChat is recently creating a lot of buzz as it increased its subscribers base substantially to 60 Million. The growth was mainly fueled by Indian Government decision to ban 59 Chinese Apps concerning the data breaching issues.
Interestingly, ShareChat launched its video Sharing service called Moj, just one day after the ban of Chinese Apps.
ShareChat is founded by Ankush Sachdeva, Bhanu Pratap Singh and Farid Ahsan under Moholla Tech Pvt Ltd.