New Delhi: Mohalla Tech, the parent company of homegrown social media apps Moj and ShareChat, is acquiring Times Internet-owned short-video platform MX TakaTak for nearly $600 million (about Rs 4,500 crore), sources said here on Thursday. In 2021, Mohalla Tech cumulatively raised $913 million, at a valuation of $3.7 billion. The acquisition, sources close to […]
The partnership allows ShareChat and Moj to access an extensive catalogue of Indian music and provide an enhanced experience to its creator communities.
Indian short-form apps have also successfully retained 67 per cent of the TikTok era users and have onboarded around 30-35 per cent new users over the past year.
The latest investment round was led by Lightspeed Ventures and Tiger Global, along with participation from Snap, Twitter and India Quotient and others.
With this integration, Moj creators will now be able to access Snapchat's Lens Carousel, directly inside the app when creating content, giving them a range of creative tools to elevate their videos.
In his new role at ShareChat, Varghese will be pivotal in expanding and strengthening the platform's revenue efforts, and building a robust monetisation approach.
