Is Google to buy ShareChat?

According to reports, Google is in talks with ShareChat for investing in the social media firm. On the other hand, ShareChat is looking to raise $150-200 million and is holding discussions with investors and technology companies. JPMorgan is advising the company in raising funds.

ShareChat owns a regional language social media platform that competed with ByteDance's recently banned Helo and a new short-video app Moj, which was released soon after TikTok's exit from the market.

According to a spokesperson of ShareChat, they are in a process to raise funds. They have reached out to funds as well as strategic investors like Google. The talks are still at a preliminary stage and will take some time to conclude. As Chinese tech applications are banned, they expect larger investor traction for ShareChat, which directly competes with ByteDance 's Helo."

Google is not the only firm that has held discussions with ShareChat, which counts microblogging platform Twitter as one of its investors. According to a news daily, Microsoft had also held discussions with Sharechat. It is also in discussions with existing investors, including SAIF Partners and Lightspeed Venture Partners, as reported by a news source in July.

In July, Google CEO Sundar Pichai announced a $10 billion India Digitisation Fund, most of which will be invested in Indian companies over the next five to seven years.