Twitter backed Indian social media platform, ShareChat, has acquired video production company Hera Pheri Films (HPF Films). The acquisition will help the company to strengthen its content ecosystem, improve creator network and help provide better advertising solutions for brands, for both ShareChat and Moj, its new short-video platform.
The deal size wasn’t disclosed.
HPF Films currently produces content, including web series, digital advertisements, short films and documentaries. The company has worked with brands like Meesho, Ixigo, OKCredit, Ola Cabs and more. Its well known shows include What The Goat, Stones & Wounds and The Dating Scientist.
The company’s 25 member team has now joined ShareChat and will be taking care of the company’s content operations, digital marketing and more. “We will assist the creators on ShareChat and Moj for better content creation through workshops, training etc. and strengthen content operations and ad solutions,” said Navin Lalwani, chief operating officer and co-founder of HPF Films.
Essentially, the company will continue working with other brands, but will create content only for ShareChat and Moj. So far, HPF Films has also made shows that air on YouTube and certain other platforms.
This is ShareChat’s second acquisition in two months, as the company looks at taking advantage of TikTok ban in India. The social media company acquired hyperlocal information platform Circle Internet last month, to improve penetration in the regional internet space.
ShareChat has been one of the biggest beneficiaries from the Indian government’s ban on Chinese apps like TikTok, Helo, Vigo Video among others. The company launched Moj less than two days after the ban and has been battling rivals like MX Taka Tak and DailyHunt’s Josh to improve its content and creator ecosystem.
ShareChat is in talks with investors to raise funds for these platforms, Microsoft being one among them, Mint had reported earlier. The company is currently valued at approximately $650 million, and may enter the unicorn club with its next round of funding.
This article was first published on livemint.com