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Twitter-backed start-up ShareChat continues with inorganic expansion

Acquires Saif Partners-backed Circle Internet to strengthen hyperlocal content on platform

ShareChat
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IIT alumnus Shashank Shekhar, who was heading content operations at ShareChat before co-founding Circle in 2018 with Uchit Kumar and Gaurav Agrawal, will now be heading the overall content strategy for ShareChat. Representative Image

Samreen Ahmad Bengaluru
Continuing with its inorganic expansion strategy, social media start-up ShareChat has acquired Saif Partners-backed Circle Internet for an undisclosed amount, in order to help the homegrown app strengthen hyperlocal content on its platform. The company had earlier acquired memes platform Memer for an undisclosed amount in April.

With this acquisition, the existing 15-member Circle team has joined ShareChat and will be contributing towards building a language-first, community-driven user generated hyperlocal content ecosystem, said the Twitter-backed company. 

“This acquisition will help us penetrate deeper into geographies and nurture a thriving hyperlocal content ecosystem that will understand and serve the latent content

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First Published: Aug 24 2020 | 5:29 PM IST

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