ShareChat Acquisition: What’s Google Up To?

Must Read

Hands-Free Resources: How Businesses Are Using AR to Make Workplaces Safe and Productive

The role of efficiency and ease in the modern world has become forefronted when it comes to technology, particularly...

Top Countries by App Downloads Q2 2021: India Dominates With 7 Billion+ Downloads [REPORT]

As the adoption of smartphones and the Internet has increased over the last decade, so has the number of...

TikTok Is Now The World’s Most Popular Non-Facebook App With Record 3 Billion Downloads!

When you think of the world's most popular apps, the first name comes into your mind: Facebook. If not,...

The news related to acquisition of ShareChat is once again making rounds on the internet.

It seems like Google has taken a shine to the Twitter-backed social media platform ShareChat and might acquire it at a valuation of $1 billion!

According to sources, the Alphabet-owned search giant is currently in advanced talks with the Indian startup in order to solidify the terms of the deal. ShareChat’s popularity has risen quite significantly among users as well as investors. Earlier, even Microsoft was reported to be gunning for a stake in the startup.

Advertisements

In its last round, i.e. pre-series E, the homegrown social media platform raised a whopping $40 million at a valuation of $650 million and is backed by heavyweights such as Twitter, SAIF Partners (now called Elevation Capital), Lightspeed Ventures along with standalone Indian investors like Dr Pawan Munjal and DCM Shriram Promoters Family Office.

Now, the question that arrives here is – What’s in it for Google?

ShareChat Acquisition: All About Regional Presence

In July, Google CEO Sundar Pichai announced that the tech giant would be spending a humongous sum of $10 billion in India as part of ‘Indian Digitization Fund’ over the course of next three years. He also mentioned that the fund would be used for accomplishing four primary goals.

First, to build new products that can provide solutions for the relevant and unique needs of India. Second, empower businesses on their journey of digital transformation. Third, leveraging technology, such as A.I. in areas such as health, education, and agriculture. Fourth, enabling affordable access to quality information in commonly prevalent Indian languages such as Hindi, Tamil, Punjabi and so on.

If Google acquires ShareChat, it will become an incredible asset which can help the tech giant accelerate all of their four goals.

Advertisements

ShareChat has built a strong presence in India in the vernacular domain. The Indian startup has a presence in over 15 Indan languages and is catering to the emerging adopters of internet connectivity in India. Thus, there is no doubt that Google would benefit massively from ShareChat’s expertise in the growth of vernacular language.

Also, quite recently, ShareChat has set up an R&D lab in Silicon valley called Sharechat Labs and brought in the former Uber product leader Gaurav Mishra to overlook the operations.

At the ShareChat lab, the Indian homegrown startup will focus on building strong artificial intelligence (A.I.) and machine learning-driven (M.L.) capabilities for their social media platform and the short video platform they recently released called Moj.

Sharechat currently has over 130 million monthly users, while Moj been able to garner 80 million monthly users within a very short period of time. Thus, Google can leverage this humongous user base to reach out to non-English speaking internet adopters.

Now, if the deal will fructify or not is anybody’s guess right now. Neither Google nor ShareChat has disclosed any details about the progress of the deal so far. The Alphabet-owned tech giant has already invested $4.5 billion out of the 10 billion in Reliance Jio in a bid to accomplish the same goals. We will keep you updated on all future developments. Until then, stay tuned.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

A Big Blow To Amazon and Flipkart: CCI Investigation To Continue

Flipkart and Amazon continue to find themselves in hot water as their plea against the investigation that is being...

In-Depth: Dprime

Will ‘TikTok By Microsoft’ Be A Winner?

For the last two years, TikTok has been in the public eye for all sorts of reasons. First, it was the exploded and unparalleled...

Facebook Subscription Model: Looking Beyond Ad Dollars?

Seldom do job listings create a stir this gripping. However, when the job listing in question is a stealth post from Twitter, with a...

Will The Online Food Delivery Market in India End Up Becoming A Two-Horse Race?

It's pretty much evident that the food delivery space in India is all set to get riled up soon enough as one of the...

More Articles Like This