Search engine giant Google is mulling an investment in Indian social media firm ShareChat, per a report by The Economic Times, as the latter plans to rake in about $150-200 million in its latest round of funding.
ShareChat, a regional language video and picture sharing platform, is already in talks with a host of investors and technology companies for the same.
Recently, a report by Mint stated that the startup is in talks with Microsoft Corp. for an investment of around $100 million.
Talks on the proposed investment surface at a time when the company looks to capitalize on the opportunity that has been created in India for local players after the government banned 59 Chinese apps including short video app TikTok that reportedly had 200 million registered users in the country.
Established in 2015, ShareChat allows users to share their opinions, record their lives and make new friends within the comfort of their native language. It used to count social networking service Helo and TikTok among its competitors – both owned by China’s Bytedance that are currently banned in India.
At the moment, Sharechat has over 150 million registered users, of which 60 million are monthly active users. The startup saw its app base growing by over 50 million in the week after the ban on Chinese apps in India.
Sharechat last raised $100 million from Twitter, which pegged the valuation of the startup at $650 million. Its other backers include investors such as Shunwei Capital, Lightspeed Venture Partners, and SAIF Capital and TrustBridge Partners, among others.