 "ShareChat")
Social media unicorn ShareChat has acquired short video app MX TakaTak from MX Media for $700 million, according to sources close to the developments, even as the two companies announced a strategic merger on Thursday. The deal involves a mix of cash and stock.
After the transaction, MX Media and its shareholders will become strategic shareholders of ShareChat. In December last year, ShareChat had raised $266 million in fresh funding from US-based Alkeon Capital and some existing investors, pushing its valuation to $3.7 billion.
ShareChat’s homegrown short video platform Moj and MX TataTak will have 100 million content creators, over
