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<ul><li>India’s home-grown social network ShareChat is looking for its next round of investment, and Google may reportedly shell out $150 million to $200 million. </li><li>Even <keyword id="10387" type="CITY" weightage="20" keywordseo="Microsoft">Microsoft</keyword> has expressed its interest in ShareChat while chasing <keyword id="6762469" type="UNKNOWN" weightage="20" keywordseo="TikTok">TikTok</keyword>’s operations in the US. </li><li>Here’s why analysts think it makes sense that Google is looking to ShareChat in order to fill the gaps in its portfolio. </li></ul>Global tech giants are on the hunt for the next big social network. Facebook has rolled out Instagram Reels and Microsoft is looking to get its hands on the real deal by acquiring TikTok’s US business. Meanwhile, in India, Google is trying to finally get a piece of pie by investing in the country’s home-grown social networking platform, ShareChat. Neither Google nor ShareChat have commented on the <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/google-in-talks-with-sharechat-as-latter-scouts-for-150-200-million/articleshow/77582440.cms">Economic Times</a> article, which claims that the companies are in the preliminary stages of negotiating an investment between $150 to $200 million. Nonetheless, analysts believe that Google’s interest in the local-language network will fill in the missing pieces it has in its portfolio. “It’s very well possible that ShareChat will eventually get rebranded as something else for global markets,” founder and CEO of Greyhound Research, Sanchit Vir Gogia told Business Insider. What is ShareChat? ShareChat is a social networking platform, which, within itself, has a TikTok alternative — called <a href="https://www.businessinsider.in/tech/news/sharechats-tiktok-rival-moj-crosses-5mn-downloads-on-google-play/articleshow/76811384.cms">Moj</a> — that has <a href="https://www.businessinsider.in/business/startups/news/sharechat-rides-on-the-ban-on-apps-from-china-with-15-million-downloads-in-36-hours-but-is-itself-backed-by-chinese-investors/articleshow/76728139.cms">gained traction</a> since the ban on Chinese apps was announced in India. “This will enable Google to have a shot at its social networking ambitions but as of now, we see it as a strategic investment if it happens,” said counterpoint analyst Tarun Pathak. <div type="Article" hostid="261" msid="77062280" title="Instagram, Facebook, YouTube and Sharechat see substantial increase in time-spent after the ban on Chinese apps: Kantar" mstype="2" mssubtype="0"></div> The investment would not just give Google an opportunity to make headway in the social networking game, but also allow it to leverage ShareChat’s <a href="https://www.businessinsider.in/business/news/users-created-over-100-mn-pieces-of-hindi-content-in-2019-sharechat/articleshow/72965102.cms">vernacular content</a>. It already lost out to Facebook in the west. ShareChat could provide the tech company its second coming. The Indian social network is currently the fastest growing local language social media platform in India with support for 14 Indian languages and more than 60 million active users. It’s one of the reasons that even Microsoft is <a href="https://www.businesstoday.in/current/corporate/microsoft-in-prelim-talks-with-sharechat-indian-app-for-100-million-dollars-investment/story/412337.html">reportedly</a> looking to buy it even though it already has a monopoly in the professional networking space with LinkedIn. For ShareChat, an investment from Google would mean an investment by the ‘king of search engine optimisation’ (SEO), he explained. Brands pump in money where searchability is best — the more searchable a platform’s content is, the more likely it is to go viral. TikTok set the tone for social networks to travel from East to West The success of TikTok is only one case study on how the next big global social network won’t start out in the US or Europe but in Asia. But an app that’s popular in India will have a lot of users while being unable to general a lot of money. Indian users are diverse but they don’t like to spend online. “India is not a very high revenue market right now but it is a great testbed market from features, functionality and languages perspective,” said Gogia. Even with TikTok, one-third of its users were from India but the <a href="https://www.businessinsider.in/tech/apps/news/tiktok-made-more-money-than-any-other-app-in-july-despite-losing-its-largest-overseas-market/articleshow/77369131.cms">majority of its revenue was still from China.</a> Test local, make money global Many companies like Microsoft and Google already test drive their products in India and other countries before taking them to the US. According to Gogia, Google’s interest in ShareChat could very well be an attempt to drive innovation from a low-risk country and take it across broader global networks. If you look at it from Google’s point of view, it will be able to use the abundance of data to train its algorithms and artificial intelligence (AI) models in a very big way. “These models can then be taken into other countries from a monetisation perspective,” explained Gogia. Investing in ShareChat fits in perfectly with Google wanting a piece of the pie in India’s rising digital adoption. “This will give them rich insights on how the next half a billion first time internet users will embrace the internet and help in tweaking their services accordingly and not to forget the indirect benefits to their core advertisement segment,” said Pathak. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/the-heat-is-on-mark-zuckerberg-in-india-as-facebook-and-whatsapp-incur-the-ire-of-modis-rivals/articleshow/77575358.cms">The heat is on Mark Zuckerberg in India as Facebook and WhatsApp incur the ire of Modi's rivals</a> <a href="https://www.businessinsider.in/tech/apps/news/not-only-gmail-google-drive-meet-slides-docs-sites-groups-chat-keep-voice-services-also-facing-issue-as-per-google/articleshow/77652103.cms">Google Drive, Docs, Meet and others are working again after being out of service for over six hours</a> <a href="https://www.businessinsider.in/tech/apps/news/microsoft-is-ending-support-for-the-legacy-internet-explorer-but-its-only-going-to-affect-less-than-5-of-online-users/articleshow/77607727.cms">Microsoft is ending support for the legacy Internet Explorer — but it's only going to affect less than 5% of online users</a>

Google eyes India’s ShareChat as Microsoft goes after TikTok in the US — here’s why it makes sense

<ul><li><keyword id="2721952" type="General" weightage="20" keywordseo="crypto" source="Orion">Crypto</keyword> — not stocks — is going to be the asset-class of choice, Lightspeed Ventures said.</li><li>Lightspeed is not alone. Business Insider spoke to a few other VC firms like Pi Ventures and Speciale Invest to understand the rationale for big money chasing crypto.</li><li>Big investors with $100 trillion of capital are getting into <keyword id="6357017" type="General" weightage="20" keywordseo="cryptocurrency" source="Orion">cryptocurrency</keyword>, according to a Bloomberg report dated November 13.</li><li>Check out the latest news and trends in cryptocurrencies on<a href="https://www.businessinsider.in/cryptocurrency"> Business Insider</a>.</li></ul>At a time when the bigger part of the investment community is still cautious, US-based venture capital firm Lightspeed — whose popular investments include OYO, ShareChat and Epic Games — says crypto, not stocks, is going to be the asset-class of choice for the new-to-investing millennials in India and South East Asian markets. Lightspeed has already invested multi-million in blockchain technology, including cryptocurrencies, like FTX, Wintermute, Zerion, DeversiFi and Blockchain.com as of August 2021. “There is a lot more fiat (currency) that is outside of crypto entering crypto so yields in crypto are likely to stay high for the foreseeable future, and that might mean that for the foreseeable future, those that look for high yields — often the younger investors — will gravitate to crypto,” Hemant Mohapatra, partner at Lightspeed, told Business Insider. The venture capital firm believes that the high rate of interest, coupled with crypto regulation being a part of mainstream politics, are just a couple of factors that are going to attract more investors towards this value creation opportunity. “In India as well, years of regulatory pushback has begun to ease off, starting with the Supreme Court of India overturning a prior directive by the Reserve Bank of India (RBI) prohibiting banks from dealing with cryptocurrencies,” Hemant Mohapatra, partner at Lightspeed, said in a<a href="https://medium.com/lightspeedindia/lightspeeds-india-sea-crypto-landscape-7038eaa473e"> blog post</a>. ALSO WATCH: Crypto is crying for regulation because the ads are misleading <div type="javascript" title="Custom" contenttype="Video"><cdata><![CDATA[ ]]></cdata></div> Lightspeed is not alone in being bullish about crypto According to a <a href="https://www.bloomberg.com/news/audio/2021-11-13/big-investors-with-some-100-trillion-are-getting-crypto-curious">report</a> published by Bloomberg on November 13, institutional investors with a capital of $100 trillion are interested in investing in crypto. Global cryptocurrency monthly trading volumes have also significantly increased in 2021, growing from $271 billion in June quarter of 2020 during the first wave of covid to $2.2 trillion in May 2021. An advertisement by Indian Crypto exchanges, launched in November 2021, said that Indians have ₹6 lakh crore invested in cryptocurrencies triggering a spate of social media conversations on the topic of their legitimacy. <div type="image" title="The partner at a VC firm backing OYO, ShareChat and Epic Games explains why it’s betting big money on crypto ⁠— and he’s not alone" msid="87710484" hostid="261"></div> The craze of crypto currencies is also imminent in India, as one in six urban Indians intend to invest in these virtual tokes in the next six months, according to a consumer research firm <a href="https://www.financialexpress.com/brandwagon/16-urban-indians-currently-own-cryptocurrency-kantar-study/2338566/">Kantar</a>. This has the potential to eat into the larger investment pie according to Shubham Sandeep, principal at investment firm Pi Ventures (known for backing startups like Locus, Agnikul and Google-backed Wysa). This cannot be defined as a capital outflow but more like an opportunity lost for equity investments. “The last generation wanted to invest in real estate, then came the generation of 90s-2010s when their investments went into equity and over the next 10-20 years, the upcoming generation will get their first exposure on investment through crypto,” Sandeep added. He noted that investments are not being diverted from equity to crypto as of now. The volatility of the crypto market has allowed investors to maximise their profits from this underregulated segment. It is also getting much earlier to use these virtual currencies for varied uses. “But it is not for the faint hearted,” Sarabjot Singh Anand, director of computer science and engineering at School of Engineering and Technology, adds. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Percentage growth in 2021 to date </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bitcoin </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">127.7% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ethereum </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">555% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Binance Coin </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1628% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Solana </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">53% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cardano </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,071% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Doge </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4,614.22% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> The market still has a long way to go, Avinash Shekhar, co-CEO of ZebPay and a member of Blockchain and Crypto Assets Council (BACC), noted. The remarkable growth and returns of cryptocurrencies is the major reason why $8 billion was invested in this crypto and blockchain domain in 2021 so far. Indian companies — CoinDCX, Coinswitch Kuber and others — have raised half a billion dollars this year as well. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fundraise </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Investors </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FTX </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$900 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paradigm, Sequoia Capital, Ribbit Capital </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Circle </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$440 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;"> Fidelity Management and Research Company, Marshall Wace, Digital Currency Group </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ledger </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$380 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10T Holdings, Cathay Innovation, Draper Esprit, Draper Associates, Draper Dragon, DCG </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BlockFi </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$350 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bain Capital Ventures, partners of DST Global, Pomp Investments, Tiger Global </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Solana Labs </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$314 million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Andreessen Horowitz, Polychain Capital, Alameda Research </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> “Cryptocurrencies undoubtedly have the potential to give high returns, but as they say, there is no free lunch. So the high returns come with greater risk.... I personally feel that crypto will become part of most institutional and individual portfolios which will see money flowing out of stocks but stocks will continue to remain an important part of any portfolio,” he added. Regulation is not necessarily a bad thing The India Parliament is <a href="https://www.cnbctv18.com/cryptocurrency/govt-likely-to-move-cryptocurrency-bill-in-parliaments-winter-session-work-on-to-modify-bill-11385552.htm">reportedly</a> planning to debate a new bill on the cryptocurrency bill in the Winter Session. You can read the highlights of what the bill is likely to propose <a href="https://www.businessinsider.in/cryptocurrency/news/indias-crypto-bill-will-still-have-a-few-hurdles-to-clear-before-becoming-a-law-even-if-the-cabinet-approves/articleshow/85397358.cms">here</a>. “Government has pulled back from a blanket ban and we do expect, and welcome, thoughtful regulation to bring crypto safely and broadly to the masses in ways that allows the benefits of crypto to see into tradfi [Traditional Finance] and avoids the common pitfalls and risks that this emerging ecosystem presents,” Mohapatra said. Arjun Rao of Speciale Invest — an investor in The ePlane Company, RocketLane and others — echoed the same, highlighting there is a greater scope of innovation in crypto as well. “We expect more innovation in crypto and conducive regulation to be the main drivers of increase in crypto investing in the coming years, the impact of macro economic trends (like rise in inflation) is harder to predict,” he told Business Insider. SEE ALSO: <a href="https://www.businessinsider.in/science/news/blue-origin-teaches-space-tourists-who-land-in-the-desert-what-to-do-if-their-rocket-lands-next-to-a-cactus/articleshow/87698700.cms">Blue Origin teaches space tourists who land in the desert what to do if their rocket lands next to a cactus</a> <a href="https://www.businessinsider.in/stock-market/news/elon-musk-sold-nearly-7-billion-worth-of-tesla-stock-this-week-and-says-hes-incurring-higher-taxes-on-purpose/articleshow/87699239.cms">Elon Musk sold nearly $7 billion worth of Tesla stock this week - and says he's incurring higher taxes on purpose</a> <a href="https://www.businessinsider.in/tech/news/former-spacex-engineer-accuses-company-of-racial-discrimination-denying-its-claims-that-he-was-fired-for-making-inappropriate-facial-expressions/articleshow/87699444.cms">Former SpaceX engineer accuses company of racial discrimination, denying its claims that he was fired for making inappropriate facial expressions</a>

The partner at a VC firm backing OYO, ShareChat and Epic Games explains why it’s betting big money on crypto ⁠— and he’s not alone

<ul><li>The combined short video platform will have over 300M MAUs and 100M strong creator community.</li><li><keyword id="11984975" type="General" weightage="80" keywordseo="mx-media" source="Orion">MX Media</keyword> and its shareholders will become strategic shareholders of <keyword id="3358959" type="General" weightage="80" keywordseo="sharechat" source="Orion">ShareChat</keyword>.</li></ul>MX Media Co. Ltd, the parent company of <keyword id="9555198" type="General" weightage="100" keywordseo="mx-takatak" source="Orion">MX TakaTak</keyword>, and ShareChat, the parent company of <keyword id="8678883" type="General" weightage="80" keywordseo="moj" source="Orion">Moj</keyword>, today announced a strategic merger between Moj and MX <keyword id="7638068" type="General" weightage="80" keywordseo="takatak" source="Orion">TakaTak</keyword>, to create the largest short video platform for Indians, whereby the two platforms will now be controlled by ShareChat. The combined platform will have 100 million creators, over 300 million Monthly Active Users (MAU), and nearly 250 billion monthly video views. Post this transaction, MX Media and its shareholders will become strategic shareholders of ShareChat. Since its launch in July 2020, Moj has emerged as the largest Indian short video app, with over 160 million MAUs and over 50 million creator communities in the 15 Indian languages. The company has been investing heavily in social and live commerce and growing its AI/ML team which is now over 100 people strong and spread across the US, Europe, and India. MX TakaTak was launched in July 2020 and reached 150 million MAUs, across 10 languages. The platform’s deep access to content talent and understanding of the MX Media ecosystem user base has seen this high growth in a short span of time. MX TakaTak will continue to function as a separate platform for now, but the two platforms’ creator base, content supply and recommendation algorithms will be integrated. In the coming months, the experience of users and creators will converge enabling creators from both platforms to reach the most extensive set of audiences in India. This will provide users access to unique features including best-in-class camera creation tools with Snap filters, live commerce, and a vast music library. Commenting on the merger, Ankush Sachdeva, CEO and Cofounder, ShareChat &amp; Moj, said, “We at ShareChat are building India’s largest content ecosystem which has been on an unprecedented growth trajectory. MX TakaTak is a popular platform and this merger further solidifies our position in the short video ecosystem. With this development, we aim to build the largest original content platform on Moj along with the largest community of users across India.” Commenting on the partnership, Karan Bedi, CEO MX Media said, “I am excited to announce the strategic merger of India’s two most popular social media platforms. As India's largest digital entertainment platform, MX has always strived to build superior world class products, and TakaTak is no exception. This combined with Moj’s AI and execution capabilities makes the combined business a truly world class short video platform. MX has created two ‘unicorns’ within one business, unlocking significant value for our shareholders, and will now continue to double down on OTT, with significantly increased financial resources.”

ShareChat and MX Media announce a strategic merger of Moj and MX TakaTak

<ul><li>56% of Bharat use UPI and 49% use mobile wallets multiple times a week.</li><li>27% of Bharat use paid video streaming services v/s 29% India.</li><li>1 in 5 Bharat users invests in cryptocurrency.</li><li>39% of Bharat uses <keyword id="6354632" type="General" weightage="20" keywordseo="social-media" source="Orion">social media</keyword> as their primary news consumption platform and prefers it over both print and TV combined.</li></ul><keyword id="3358959" type="General" weightage="20" keywordseo="sharechat" source="Orion">ShareChat</keyword> has released a report titled ‘Bharat - The Neo India’ in association with GroupM that studies the social media behavior, content preferences, spending choices of Bharat1 and India2 users. The report classifies users that prefer Indic language on social media as Bharat users and India users as the ones that prefer using English, across all the regions of India. Bharat users are spread across the country with nearly 40% present in metros and 53% in non-metros. The findings in the report are based on a primary survey by YouGov, conducted among 3,432 social media users across 17 Indian states and with inputs from Kantar on Indic language urban active internet users. The survey finds that Bharat users are as affluent and digitally savvy as India users. Bharat users are at par with India users when it comes to participating in online financial activities. In terms of choice of payment mode, Bharat users are adept at using UPI for online transactions and have a lead over India users in terms of net-banking and debit cards transactions online. Among Bharat users, 56% use UPI and 49% use mobile wallets multiple times a week. Breaking away from traditional means, Bharat users are investing in stocks, mutual funds, e-gold and even cryptocurrency. Bharat users are more engaged on social media as compared to India users. 29% of Bharat users post content daily at least once as compared to 22% of India users. Bharat chooses to stay updated via social media as 39% of Bharat uses it as their primary source of news consumption. Like India, the majority of Bharat users prefer streaming free videos over watching TV. Daily, 50% of Bharat users stream free video online and about 47% watch TV. Social media also emerged as one of the primary influences for making buying decisions for Bharat users. Bharat is increasingly shopping online with 46% buying gadgets online in 2021, followed by other categories like travel bookings, food, clothing and accessories, beauty and skincare are also popular. Unveiling the report, <keyword id="290700" type="General" weightage="20" keywordseo="ajit-varghese" source="Orion">Ajit Varghese</keyword>, Chief Commercial Officer of ShareChat, said, “Bharat users are taking social media by storm. It is interesting to note that the Language first users are at par with English language first users when it comes to digital presence, use of online transaction methods, and shopping habits. Bharat users also outrank when it comes to consuming news, food and beverages, health and fitness, and travel related categories online. Observing similar trends on our platforms, we at ShareChat are excited to be at the forefront of engaging with this audience that is spread across the country.” Commenting on the report, <keyword id="232445" type="General" weightage="20" keywordseo="prasanth-kumar" source="Orion">Prasanth Kumar</keyword>, CEO – GroupM South Asia said, “From the media planning aspect, Bharat is unique in many ways. This is mostly because all the cities that make Bharat are Indic language-heavy, fragmented and display their own sets of <keyword id="139079" type="General" weightage="20" keywordseo="consumer-behaviour" source="Orion">consumer behaviour</keyword> traits. This diversity in our country brings in its own challenges and opportunities. Brands and media planners looking to reach target audiences across the country should focus on a customized approach for this segment. With this report, we have put together planning guidelines that will give marketers a direction and a starting framework on how to plan and reach the Bharat user effectively.” Bharat v/s India - Other key findings: <ul><li>Bharat users are showing a propensity to pay for online content with 27% already using paid video streaming services daily</li><li>37% of Bharat users are listening to music, 36% are shopping, and 24% are ordering food online</li><li>In certain categories, Bharat users in specific regions drive higher engagement <ul><li>South: Gaming (39%), Food &amp; Drinks (32%) and Travel (22%)</li><li>West: Travel (22%)</li><li>North: Health and Fitness (29%)</li></ul></li><li>In terms of voice search, Bharat users are leading with 26%, as compared to 15% of Indian users.</li><li>21% of Bharat posts content 4-5 times a week compared to 17% of India</li><li>As per Kantar, there are over 341 million overall urban active internet users and 167 million urban active Indic internet users. The study suggests that urban active Indic internet users over-indexed on NCCS A (New Consumer Classification System) and higher education compared to overall urban active internet users</li><li>33% of the urban active Indic internet users are from NCCS A as compared to 30% among overall urban active internet users</li><li>39% of urban active Indic internet users consists of graduates/postgraduates as compared to 35% among overall urban active internet users</li></ul>

Bharat users are as affluent and digitally savvy as India users: ShareChat and GroupM report

<ul><li>Twitter co-founder, <keyword id="194394" type="PERSON" weightage="20" keywordseo="Biz-Stone">Biz Stone</keyword>, announced that they will be investing in a Kerala based startup — <keyword id="6883189" type="UNKNOWN" weightage="20" keywordseo="Sieve">Sieve</keyword>. </li><li>Sieve is a platform for tech freelancers and agencies to provide services over the cloud. </li><li>This is Twitter’s second investment in an Indian tech startup after funding <keyword id="3358959" type="PERSON" weightage="20" keywordseo="ShareChat">ShareChat</keyword>, a local language social media app, in August. </li></ul>Twitter co-founder, Biz Stone, just announced that he will be investing in a startup mentored by the Kerala Startup Mission —, Sieve founded by Sanja Nediyara. This will be <keyword id="749437" type="COMPANY" weightage="20" keywordseo="Twitter-India">Twitter India</keyword>’s second investment in an Indian technology start up within a span of two months. In August, Twitter put funding up for ShareChat, an Indian social media app for local languages. "I have used the product of Sieve as a freelancer. As an Angel, I consider the person first, and the product second. I find Sanjay as a dedicated, empathetic and extremely hardworking individual," stated Stone during a video conference at Huddle Kerala 2019. In both instances, Twitter has not disclosed the amount it has invested. What is Sieve? Sieve is a platform for tech freelancers and agencies. It provides services like infrastructure to websites, creating digital signatures or even manages invoices. As of now, Sieve only serves the US market but has plans to expand into Europe. The aim is to allow entrepreneurs to build Internet companies in the cloud. Using Sieve, freelancers from all over the world can form companies, and work from anywhere in the world. Not just Twitter Sieve’s other investor is Friends of Oorjja, an ecosystem to help individuals from the differently-abled community. Nediyara received help from mentors in the banking industry and Otis Elevators. Google also showed an interest in Nediyara’s startup when they invited him to their annual developers conference, Google I/O. See also: <a href="https://www.businessinsider.in/facebook-india-head-explains-3-ways-that-indian-tech-startups-need-to-transform/articleshow/71327000.cms">Facebook India Head explains 3 ways that Indian tech startups need to transform</a>

Twitter invests in its second Indian start up within a span of two months

<ul><li>The camera kit is an end-to-end solution to include <keyword id="24754" type="ORGANIZATION" weightage="20" keywordseo="snap">Snap</keyword>’s AR platform into apps.</li><li>With the partnership, <keyword id="8678883" type="UNKNOWN" weightage="20" keywordseo="moj">Moj</keyword> will be releasing 30 lenses for creators to use, and will further build 400 more lenses in collaboration with Snap.</li><li>Moj has over 80 million users in India.</li></ul><keyword id="6358096" type="DEFINITION" weightage="20" keywordseo="snapchat">Snapchat</keyword>’s parent company Snap Inc has partnered with Moj, the short video platform by <keyword id="3358959" type="PERSON" weightage="20" keywordseo="ShareChat">Sharechat</keyword>, to integrate its camera kit. The camera kit is an end-to-end solution to include Snap’s AR platform into apps. Several global video apps have already partnered with Snap for its camera kit. With the partnership, Moj will be releasing 30 lenses for creators to use, and will further build 400 more lenses in collaboration with Snap. Snapchat users will also be able to access the lenses created by Moj. “This exclusive partnership makes us the first Indian short video platform to bring Snap’s innovative Camera Kit technology to India. The newly launched collection of 30 Lenses will give our community a never seen before social experience and make content creation on Moj a whole lot more fun. We are supremely excited about this collaboration and look forward to our creators making magic with these advanced Lenses and their original ideas,” said Gaurav Mishra, SVP-Product, ShareChat. Interestingly, <a href="https://techcrunch.com/2021/01/04/google-and-snap-in-talks-to-invest-in-india-social-network-sharechat/">reports </a>also said that Snap was in talks with Sharechat for an investment. “The Moj community and Snapchatters have a lot in common - they are creative and love finding innovative ways to express themselves. Our Camera technology and core values around creativity, privacy, and ephemerality enables us to help developers bring new opportunities to bring engaging experiences to their platforms and communities,” said Ben Schwerin, SVP - Content and Partnerships, Snap Inc. in a statement. In early July, Sharechat had launched Moj – its rival product to TikTok, right after the Chinese app was banned by the Indian government. Since then, Moj has ramped up its offerings as it looks to tap into the millions of users left behind by the ByteDance giant TikTok. The app now has over 80 million users. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/what-happens-if-the-government-bans-cryptocurrencies-should-i-sell-bitcoin-checkout-experts-views/articleshow/80782941.cms">“Should I sell my cryptocurrencies?” and other questions answered on India’s proposed Crypto Ban bill</a> <a href="https://www.businessinsider.in/india/news/india-is-considering-four-day-work-weeks-but-with-longer-hours/articleshow/80763247.cms">India is considering four-day work weeks but with longer shifts</a> <a href="https://www.businessinsider.in/tech/news/what-is-facial-recognition-technology-and-how-india-is-using-it-to-track-down-protestors-and-individuals/articleshow/80782606.cms">India is ramping up the use of facial recognition to track down individuals without any laws to keep track of how this technology is being used</a>

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