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In a week that saw the making of unicorns, short video app Moj and Indic language social media platform ShareChat parent Mohalla Tech joined the club with its latest fundraise of $502 million, valuing the company at a little over $2.1 billion. The investment has been led by Lightspeed Ventures and Tiger Global, along with participation from Snap Inc, Twitter and India Quotient amongst others, the firm said in a statement. This is also the fifth Indian firm to hit the unicorn or $1 billion valuation this week. Others include social commerce firm Meesho, online investment firm Groww, fintech...

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, back...

The app has more than 160 million active users. 18 Dec, 2020 - 09:00 AM IST     |     By Mansi Sharma     NEW DELHI: With over 530 million people connected to the world wide web and counting, India has the second-largest internet user base in the world today. Out of these, around 71 per cent come from lower-tier cities, according to a Statista report. Another study by Zinnov indicates that 81 per cent of tier-2 and 80 per cent of the tier-3 population choose mobiles as the preferred platform for consuming content. Naturally, these numbers are quite attractive to the marketing com...