Twitter explored buying India’s ShareChat and turning Moj into a global TikTok rival
Twitter recently held talks to acquire Indian social media startup ShareChat as the company explored ways to expand its presence in the world’s second-largest internet market and build a global rival to TikTok, three sources familiar with the matter told TechCrunch.
The American firm, which is already an investor in Bangalore-based ShareChat, offered to buy the five-year-old Indian startup for $1.1 billion and had committed an additional investment of $900 million, two of the sources said. ShareChat, backed by Lightspeed Partners India, Elevation Capital and India Quotient, among others, has raised about $260 million to date.