ShareChat and MX Media announce a strategic merger of Moj and MX TakaTak
MX Media, the mum or dad firm of MX TakaTak, and ShareChat, the mum or dad firm of Moj, introduced a strategic merger between Moj and MX TakaTak, to create the most important brief video platform for Indians, whereby the 2 platforms will now be managed by ShareChat. The mixed platform may have 100 million creators, over 300 million Month-to-month Lively Customers (MAU), and almost 250 billion month-to-month video views. Publish this transaction, MX Media and its shareholders will grow to be strategic shareholders of ShareChat.
Since its launch in July 2020, Moj has emerged as the most important Indian brief video app, with over 160 million MAUs and over 50 million creator communities within the 15 Indian languages. The corporate has been investing closely in social and dwell commerce and rising its AI/ML crew which is now over 100 folks sturdy and unfold throughout the US, Europe, and India. MX TakaTak was launched in July 2020 and reached 150 million MAUs, throughout 10 languages. The platform’s deep entry to content material expertise and understanding of the MX Media ecosystem consumer base has seen this excessive progress in a brief span of time.
MX TakaTak will proceed to operate as a separate platform for now, however the two platforms’ creator base, content material provide and suggestion algorithms might be built-in. Within the coming months, the expertise of customers and creators will converge enabling creators from each platforms to succeed in probably the most intensive set of audiences in India. This may present customers entry to distinctive options together with best-in-class digicam creation instruments with Snap filters, dwell commerce, and an enormous music library.
Commenting on the merger, Ankush Sachdeva, CEO and Cofounder, ShareChat & Moj, stated, “We at ShareChat are constructing India’s largest content material ecosystem which has been on an unprecedented progress trajectory. MX TakaTak is a well-liked platform and this merger additional solidifies our place within the brief video ecosystem. With this improvement, we goal to construct the most important authentic content material platform on Moj together with the most important group of customers throughout India.”
Commenting on the partnership, Karan Bedi, CEO MX Media stated, “I’m excited to announce the strategic merger of India’s two hottest social media platforms. As India’s largest digital leisure platform, MX has at all times strived to construct superior world class merchandise, and TakaTak is not any exception. This mixed with Moj’s AI and execution capabilities makes the mixed enterprise a really world class brief video platform. MX has created two ‘unicorns’ inside one enterprise, unlocking vital worth for our shareholders, and can now proceed to double down on OTT, with considerably elevated monetary assets.”