US technology giant Google may purchase Bangalore’s social networking platform Sharechat. The price could be around $ 1.03 billion, approximately Rs 7,600 crore. The Indian social networking platform Sharechat has assembled a solid base for itself within India. Sharechat is running in 15 different Indian languages.
Sharechat was set in 2015 by Ankush Sachdeva, Bhanu Pratap Singh, along with Farid Ahsan. Sharechat has increased $222.8 billion, thus much in 8 rounds of financing. ShareChat increased $100 million at the past D Series around in August 2019. Sharechat is predicted to be valued at $ 1 billion in 2021.
Google is seeking to obtain social networking platform Sharechat, based on an ET Nowadays report. The technology giant could get the Indian startup at a rate of more than a billion-dollar.
Following the lockdown in March, folks spent a great deal of time on interpersonal networking platforms. In accordance with the statistics, social networking consumption in India has risen to 280 minutes every day.
An Effective buyout of all the Chinese apps Offered an entry to the Indian Social Networking Room, Particularly the short-video format, Which has Captured Remarkable growth after China’s ByteDance-owned Tiktok banned. Following the ban of TikTok in June, users made a new residence on national social networking programs. ShareChat increased $40 million by many investors using its general funds raised to $264 million.
Google has previously said it will invest in India via partnerships and investments during the next five to seven years since it intends to consolidate its status in the nation, emerging as the most significant Internet market globally with close to 700 million users.