New Delhi: Twitter-backed homegrown social media platform ShareChat<\/a> is in talks with Chinese technology giant Tencent<\/a> to raise $200 million through optionally convertible debentures, sources told ET. 资金可能是路由通过一个欧洲的实体,以避免中国投资标签,根据收紧外国直接投资规范政府去年实施后不断升级与北方邻国的边境冲突。 新德里:Twitter-backed本土社交媒体平台ShareChat正与中国的科技巨头吗腾讯通过选择可转换债券融资2亿美元,消息人士告诉等。
The funding is likely to be routed via a Europe-based entity to avoid the China investment tag, in light of tightened foreign direct investment norms which the government put in place last year following an escalating border conflict with the northern neighbour.
India said last year that any FDI<\/a> from countries sharing a land border with it, including China, would need prior approval.
The significant financial investment could at a later stage entail a change in management control of ShareChat<\/a> — since optionally convertible debentures are debt instruments that can be converted to equity after a certain period — and may even pose a risk related to local data storage and processing, the sources said, without providing further details.
ShareChat and Tencent<\/a> did not respond to ET’s emails seeking comment.
In June last year, the government moved to ban 59 Chinese apps, including popular ByteDance-owned short-videos platform TikTok, amid the intensifying border standoff with China.
The move helped a host of Indian copycat short-video apps, including ShareChat’s Moj<\/a>, to gain traction and attract investor interest.
ShareChat, which raised $100 million from microblogging site Twitter and others in August 2019, pulled in $40 million in September last year from existing investors Twitter, Lightspeed Venture Partners as well as prominent angel investors and family offices.
Future-Ready Approach
This was primarily aimed at driving growth of its Moj<\/a> platform, which the company said last month had crossed 100 million downloads on the Google<\/a> Play Store.
In November, ET reported that search giant Google<\/a> was in preliminary talks to acquire the Bengaluru-based regional language platform at a potential valuation of a little over $1 billion.
The company – which also counts TrustBridge Partners, Shunwei Capital<\/a>, Elevation Capital (formerly SAIF Capital) among its investors -- appointed Gaurav Mishra, a former product leader at Uber, the same month to build both the ShareChat and Moj platforms with a future-ready approach. ShareChat said then that it would also set up ShareChat Labs, a Centre of Excellence in Palo Alto, California, its first establishment outside the country.
The government has been firm about not revoking the ban on Chinese apps citing national security concerns.
.
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ShareChat拨打中国的腾讯筹集2亿美元
资金可能是路由通过一个欧洲的实体,以避免中国投资标签,根据收紧外国直接投资规范政府去年实施后不断升级与北方邻国的边境冲突。
印度去年表示,任何外国直接投资分享与它接壤的国家,包括中国,需要事先批准。
重要的金融投资可能在稍后的阶段需要改变管理的控制ShareChat——因为选择可转换债券是债务工具,可以转化为股本后一定时期内——甚至可能构成风险与本地数据存储和处理,消息人士称,没有提供进一步的细节。
去年6月,中国政府采取行动,禁止59应用,包括流行ByteDance-owned TikTok短视频平台,在加强与中国边境对峙。
此举帮助印度模仿短片的主机应用程序,包括ShareChatMoj,获得牵引和吸引投资者的兴趣。
ShareChat,筹集了1亿美元在2019年8月,微博网站Twitter和其他把去年9月以4000万美元从现有投资者Twitter,光速创投、以及著名天使投资人和家庭办公室。
Future-Ready方法
这是主要针对其推动经济增长Moj平台,该公司上月表示跨越了1亿下载谷歌玩店。
去年11月,报道称,搜索巨头谷歌在初步谈判收购Bengaluru-based地区语言平台的潜在价值超过10亿美元。
该公司还——计数TrustBridge合作伙伴,Shunwei资本,海拔资本(以前赛义夫资本)的投资者之一——任命Gaurav Mishra超级产品前领导人,构建ShareChat和同期Moj平台future-ready方法。也ShareChat当时称,它将设置ShareChat实验室,一个卓越中心在帕洛阿尔托,加州,首次建立国外。
政府一直对不撤销禁止中国公司应用程序引用国家安全方面的担忧。
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New Delhi: Twitter-backed homegrown social media platform ShareChat<\/a> is in talks with Chinese technology giant Tencent<\/a> to raise $200 million through optionally convertible debentures, sources told ET.
The funding is likely to be routed via a Europe-based entity to avoid the China investment tag, in light of tightened foreign direct investment norms which the government put in place last year following an escalating border conflict with the northern neighbour.
India said last year that any FDI<\/a> from countries sharing a land border with it, including China, would need prior approval.
The significant financial investment could at a later stage entail a change in management control of ShareChat<\/a> — since optionally convertible debentures are debt instruments that can be converted to equity after a certain period — and may even pose a risk related to local data storage and processing, the sources said, without providing further details.
ShareChat and Tencent<\/a> did not respond to ET’s emails seeking comment.
In June last year, the government moved to ban 59 Chinese apps, including popular ByteDance-owned short-videos platform TikTok, amid the intensifying border standoff with China.
The move helped a host of Indian copycat short-video apps, including ShareChat’s Moj<\/a>, to gain traction and attract investor interest.
ShareChat, which raised $100 million from microblogging site Twitter and others in August 2019, pulled in $40 million in September last year from existing investors Twitter, Lightspeed Venture Partners as well as prominent angel investors and family offices.
Future-Ready Approach
This was primarily aimed at driving growth of its Moj<\/a> platform, which the company said last month had crossed 100 million downloads on the Google<\/a> Play Store.
In November, ET reported that search giant Google<\/a> was in preliminary talks to acquire the Bengaluru-based regional language platform at a potential valuation of a little over $1 billion.
The company – which also counts TrustBridge Partners, Shunwei Capital<\/a>, Elevation Capital (formerly SAIF Capital) among its investors -- appointed Gaurav Mishra, a former product leader at Uber, the same month to build both the ShareChat and Moj platforms with a future-ready approach. ShareChat said then that it would also set up ShareChat Labs, a Centre of Excellence in Palo Alto, California, its first establishment outside the country.
The government has been firm about not revoking the ban on Chinese apps citing national security concerns.
.
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