ShareChat in talks for $200 million funding to take on Helo, TikTok
3 March 2019 6:00 PM GMT
ShareChat is in talks with Tencent Holdings and others for funding at a valuation of $600-700 million.Tencent?s deep pockets and strategic expertise could help ShareChat counter ByteDance's Helo and TikTok
- Bengaluru/Mumbai: ShareChat, a regional language video and picture sharing app, is in initial talks with Tencent Holdings Ltd and other investors to raise as much as $200 million, according to two people familiar with the matter.
- The Bengaluru-based social media startup, run by Mohalla Tech Pvt. Ltd, has been struggling to grow over the past few months after Chinese media giant ByteDance launched ShareChat clone
- Competition has been intensifying in the Indian regional language content space , with the entry of the deep-pocketed Chinese rivals.
- The content startup attracted several investors, including the likes of Shunwei Capital, smartphone maker Xiaomi Corp., SAIF Partners and Lightspeed Venture Partners.
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