The internet giant is currently conducting a due diligence exercise after having signed a term sheet or non binding proposal with ShareChat, said the people cited above who also confirmed the appointment of bankers to oversee the negotiations.
“The founders ( of ShareChat) may retain a small stake post the deal”, said one source, adding that all the existing investors in the five-year old startup will exit the company, if the sale negotiations with Google fructify.
Earlier in September, ShareChat raised $40 million<\/a> from a slew of investors taking its total funds raised to $264 million. People aware of the details told ET that the startup was last valued at about $650 million.
![\"\"](\"\/\/www.iser-br.com\/Themes\/Release\/images\/responsive\/ettelecom-default.jpg\")
“More funds will be required if the company expands globally taking the platform to countries in the Middle East,” the source said.
“It is a good time to sell since this is a money intensive business. There is a lot of capital required to get music licenses, influencers etc. Moreover, it is a very competitive market to be in with the launch of so many players,” the person added.
ShareChat declined comment on the developments, while a representative for Google said, \"we do not comment on rumours or speculation.\"
Earlier this year, Alphabet-owned Google earmarked $10 billion<\/a> for investments in India and began by putting in $4.5 billion investment<\/a> in Reliance Jio Platforms for a 7.73% stake. The deal was recently approved<\/a> by India’s competition watchdog the Competition Commission of India (CCI)
For the American search giant, a successful buyout of ShareChat will provide an entry into the Indian social media space, especially the short-video format that has recorded phenomenal growth after China’s ByteDance-owned Tiktok galvanised the market triggering a spate of clones.
ShareChat, founded by IIT Kanpur graduate Ankush Sachdeva along with Farid Ahsan and Bhanu Pratap Singh has gained enormously in the six months since the ban on TikTok by the Indian government. Its monthly active users has now catapulted to 160 million and it offers content in some 15 Indian languages. While Moj, the short video format that it launched in July has garnered about 80 million users according to industry estimates.
Following the ban on Tiktok, there has been a spate of launches in the short video format space. This includes apps such as MX TakaTak by Times Internet’s MX Player and Josh by DailyHunt. Facebook<\/a> brought in Reels, while Google introduced Shorts making this a hyper-competitive segment.
ET had reported in August that ShareChat is looking to raise fresh funding of $150-200 million<\/a> and is in discussions with investors and technology companies including Google and Microsoft<\/a> along with existing investors.
Subsequently, ShareChat raised a pre-Series E round of $40 million from investors such as Pawan Munjal, chairman of Hero MotoCorp, DCM Shriram Promoters Family Office, SAIF Partners, Twitter, Lightspeed Ventures and India Quotient. The funding was said to be earmarked to drive growth for Moj, the newly launched short video platform.
Twitter had previously led ShareChat’s Series D funding round<\/a> with additional backing by SAIF Partners, Lightspeed Ventures and India Quotient.
Google has earlier said that it will invest in India through a mix of investments and partnerships over the next five to seven years as it aims to consolidate its position in the country, which is emerging as the largest Internet economy in the world with close to 700 million Internet users.
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谷歌在初步谈判收购区域语言社交媒体平台ShareChat根据两个人的发展。Bengaluru-based启动,这也很重要推特作为一个早期的支持者,价值约10.3亿美元,消息人士说。
这家互联网巨头目前正在进行尽职调查运动后签署了合作意向书或非绑定与ShareChat提议,说上面引用的人谁也证实了银行家的任命监督谈判。
“创始人(ShareChat)可能保留少数股权的交易”,一位消息人士说,并补充说所有现有的五岁创业的投资者将退出公司,如果销售与谷歌谈判结果实。
9月早些时候,ShareChat筹集了4000万美元从大量的投资者采取总募集资金2.64亿美元。人们意识到细节告诉ET启动最后一个价值约6.5亿美元。
“将需要更多的资金,如果该公司扩大在全球范围内采取平台的中东国家,”该消息人士称。
“这是一个好时机出售因为这是一个资金密集型业务。有很多的资本需要音乐许可,影响力等。此外,这是一个竞争非常激烈的市场在推出如此之多的球员,”这个人说。
ShareChat拒绝对此事发表评论,而谷歌公司的一位代表说,“我们不评论传闻或投机。”
今年早些时候,Alphabet-owned谷歌拨款100亿美元在印度投资,开始了45亿美元的投资在依赖Jio平台7.73%的股权。这笔交易是最近批准的由印度竞争监管机构印度竞争委员会(CCI)
美国搜索巨头,一个成功的收购ShareChat将提供一个进入印度社交媒体空间,尤其是视频格式,记录了非凡的增长之后,中国ByteDance-owned Tiktok刺激了市场引发一连串的克隆。
ShareChat,理工学院创办的坎普尔毕业Ankush Sachdeva Farid Ahsan和Bhanu普拉塔普辛格获得了巨大的六个月以来由印度政府禁止TikTok。月度活跃用户已一跃成为1.6亿年在一些15印度语言和它提供内容。虽然Moj,简短的视频格式,它成立于8000万年7月获得了用户据业内估计。
Tiktok禁令后,已经有大量的发射视频格式的空间。这包括应用程序,比如MX TakaTak时代互联网的MX DailyHunt球员和乔希。脸谱网在卷带,而谷歌推出了短裤让这一段激烈竞争。
等8月份曾报道,ShareChat希望筹集新的资金150至200美元并在与投资者和技术公司,包括谷歌和讨论微软随着现有的投资者。
随后,ShareChat提高项目前期E轮等4000万美元投资者一生蒙贾尔,英雄MotoCorp主席DCM Shriram推动者的家庭办公室,赛义夫伙伴,Twitter,光速公司和印度商。资金是用于Moj推动增长,新推出的视频平台。
Twitter之前领导ShareChat系列D一轮融资额外的支持,赛义夫伙伴,光速公司和印度商。
谷歌早先曾表示,它将通过投资和合作方式在印度投资未来五至七年,因为它旨在巩固其在中国的地位,这正在成为世界上最大的互联网经济有近7亿互联网用户。
这家互联网巨头目前正在进行尽职调查运动后签署了合作意向书或非绑定与ShareChat提议,说上面引用的人谁也证实了银行家的任命监督谈判。
“创始人(ShareChat)可能保留少数股权的交易”,一位消息人士说,并补充说所有现有的五岁创业的投资者将退出公司,如果销售与谷歌谈判结果实。
9月早些时候,ShareChat筹集了4000万美元从大量的投资者采取总募集资金2.64亿美元。人们意识到细节告诉ET启动最后一个价值约6.5亿美元。
“将需要更多的资金,如果该公司扩大在全球范围内采取平台的中东国家,”该消息人士称。
“这是一个好时机出售因为这是一个资金密集型业务。有很多的资本需要音乐许可,影响力等。此外,这是一个竞争非常激烈的市场在推出如此之多的球员,”这个人说。
ShareChat拒绝对此事发表评论,而谷歌公司的一位代表说,“我们不评论传闻或投机。”
今年早些时候,Alphabet-owned谷歌拨款100亿美元在印度投资,开始了45亿美元的投资在依赖Jio平台7.73%的股权。这笔交易是最近批准的由印度竞争监管机构印度竞争委员会(CCI)
美国搜索巨头,一个成功的收购ShareChat将提供一个进入印度社交媒体空间,尤其是视频格式,记录了非凡的增长之后,中国ByteDance-owned Tiktok刺激了市场引发一连串的克隆。
ShareChat,理工学院创办的坎普尔毕业Ankush Sachdeva Farid Ahsan和Bhanu普拉塔普辛格获得了巨大的六个月以来由印度政府禁止TikTok。月度活跃用户已一跃成为1.6亿年在一些15印度语言和它提供内容。虽然Moj,简短的视频格式,它成立于8000万年7月获得了用户据业内估计。
Tiktok禁令后,已经有大量的发射视频格式的空间。这包括应用程序,比如MX TakaTak时代互联网的MX DailyHunt球员和乔希。脸谱网在卷带,而谷歌推出了短裤让这一段激烈竞争。
等8月份曾报道,ShareChat希望筹集新的资金150至200美元并在与投资者和技术公司,包括谷歌和讨论微软随着现有的投资者。
随后,ShareChat提高项目前期E轮等4000万美元投资者一生蒙贾尔,英雄MotoCorp主席DCM Shriram推动者的家庭办公室,赛义夫伙伴,Twitter,光速公司和印度商。资金是用于Moj推动增长,新推出的视频平台。
Twitter之前领导ShareChat系列D一轮融资额外的支持,赛义夫伙伴,光速公司和印度商。
谷歌早先曾表示,它将通过投资和合作方式在印度投资未来五至七年,因为它旨在巩固其在中国的地位,这正在成为世界上最大的互联网经济有近7亿互联网用户。
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