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Microsoft may invest around $100 million in ShareChat: Report

ShareChat's popularity rose after the Indian government banned 59 Chinese apps, which included video sharing platform TikTok.

August 07, 2020 / 09:01 AM IST

Indian content sharing platform ShareChat is seeking a $100 million investment from US software giant Microsoft.

If the deal is finalised, then Microsoft's investment will be a third of what ShareChat is planning to raise in the current fundraising round, according to a report by Mint.

ShareChat will most likely raise funds from existing investors before finalising transactions with new one, the report said.

Moneycontrol could not independently verify the story.

Microsoft declined to comment and ShareChat had not yet responded as per the report.

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Also read: Tiktok, Helo, UC Browser among 59 Chinese apps banned: India's ShareChat to gain?

A separate report by Reuters suggested that ShareChat is also in early-stage talks with US-based Sequoia Capital and other investors to raise as much as $200 million (roughly Rs 1,500 crore), which would value the company at $1 billion.

ShareChat's popularity rose after the Indian government banned 59 Chinese apps, which included video sharing platform TikTok.

ShareChat recorded over 15 million downloads within the 36 hours after the ban was announced.

Microsoft's potential bet on ShareChat also comes at a time when the software major is looking to purchase TikTok's US business.

US President Donald Trump on August 6 banned ByteDance-owned TikTok in the country, which will come into effect on September 15.
Moneycontrol News
first published: Aug 7, 2020 09:01 am

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