ShareChat , the Indian regional language social media application recently announced to acquire Circle Internet, a hyperlocal information platform. The amount has not yet been disclosed by the company.
Circle Internet offers contextual knowledge to web users of the Indian language across Tier-2 and Tier-3 towns. It has a footprint across Uttar Pradesh, Rajasthan and Kerala in more than 120 districts, and a network of over 1,000 volunteers with over 2 million hyperlocal content pieces produced on the app since its launch in 2018, the company said.
The Indian Social Media platform, developed by Mohalla Software Pvt Ltd., has over 60 million monthly active users in 15 languages in India. The app incorporates confidential notes, tagging and hidden mail that allows people to communicate with other undisclosed users through photos, feedback, songs and other exchanged content.
Although the current 15-member team will support the ShareChat team, this would enable the device to operate separately. The organization claims it is going to contribute to the creation of a “first user-generated, communitarian hyper-local technology ecosystem.”
As the Indian government has prohibited the ByteDance-owners by TikTok and Helo in India, the Twitter-based Social Media Network has developed its own short-video platform, Moj. ShareChat itself is a social network that targets consumers in tier II and level III areas, so the organization may take advantage of Its details to improve the content on both platforms.
“Circle App will continue to evolve separately and allow our users to publish more meaningful and interactive content on the site,” said Manohar Charan, Share Chat’s Vice President for Business Growth and strategic finance. “Circle apps can also be leveraged to diversify ShareChat ‘s portfolio of apps and create more community-based interaction,” he added.
“With the aid of its wide scope, language skills, and strong content-based algorithms, we can soon touch a majority of districts in the whole of India,” said Circle CEO and Co-founder Shashank Shekhar. “All we can offer is to make sure our company uses a ‘robust, user-generated approach to content.'” Shekhar was the head of site operations at ShareChat when he began running Circle.”
At present, ShareChat has more than 130 million active monthly users (MAUs) and, despite the government’s suspension, is seeking to leverage TikTok’s absence from India. The business has recently conducted negotiations with Microsoft regarding a $100 million investment. The circle has funding from firms including SAIF Capital and Venture Highway.
