Google in Talks with ShareChat as it Plans to Raise $200 Mn

Economic Times reports that United States (US) based technology behemoth Google is in active talks with Bengaluru based vernacular social media firm, ShareChat.

To fuel growth in the changed operating ecosystem, ShareChat is looking to raise $150-200 million as it plans on aggressive expansion because its Chinese counterparts and primary rivals TikTok and Helo applications have been banned by the government from operating in Indian markets.

Previously, ShareChat competed with ByteDance owned Helo application, merely after days, the ban was imposed on TikTok which is also owned by ByteDance. After that, the company launched a new short-video platform, ‘Moj’ as an alternative to it.

Meanwhile, it should be noted that development about Sundar Pichai-led Google comes just days after it had been reported that Satya Nadella-led Microsoft Inc had held discussions for potential investment into ShareChat.

Since the ban on TikTok’s operations in India, a stream of alternative short-video sharing social media platforms has witnessed exponential growth.