BENGALURU: ShareChat, the parent company of short video app Moj on Thursday announced a merger between Moj and MX TakaTak. According to sources familiar with the development, the deal is valued at around $700 million.
The combined platform will have 100 million creators, over 300 million monthly active users (MAU), and nearly 250 billion monthly video views. Post this transaction, MX Media and its shareholders will become strategic shareholders of ShareChat.
Though MX TakaTak will continue to function as a separate platform for now, in the coming months, the experience of users and creators will converge enabling creators from both platforms to reach the most extensive set of audiences in India, ShareChat said.
Short-video apps are becoming popular in India since TikTok and other Chinese apps were banned in 2020. Moj has the highest monthly active user base of 160 million. Launched in July 2020, Moj is home to more than 50 million creators that connect with India through content created in 16 different languages.