ShareChat acquires hyperlocal information platform Circle Internet

ShareChat app has gained hyperlocal information platform Circle Internet. This app basically provides all the local information to Indian language internet users in tier-II and tier-III cities. Currently, with presence in Uttar Pradesh, Rajasthan, and Kerala. It has a huge network of more than 1,000 volunteers, the company said during an announcement.

However, this app will now be allowed to function independently, though its existing 15-member team, they will be joining ShareChat’s team. The company says it will contribute to building a “language-first, community-driven user-generated hyperlocal content ecosystem”.

The Twitter- social media platform are building their own short-video app, called Moj. Though, the Indian government banned Bytedance-owned TikTok and Helo in India. ShareChat is also an social network app which aims at users in tier-II and tier-III cities, and the company could use the information from Circle to enrich the content on both the platforms.

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“Circle App will continue to grow independently and empower our users to post more relevant and contextual content on the platform,” said Manohar Charan, vice president of corporate development and strategic finance at ShareChat.

“Circle content can be further leveraged to diversify the content palette at ShareChat, and drive more community-driven engagements,” he further added.

Circle chief executive and co-founder, Shashank Shekhar, also said that the company could use a “robust user-generated content strategy” to scale across India and enter other states. “With help of their wide reach, expertise in language-first approach, powerful content serving algorithms, we will soon be reaching out to the majority of districts across India,” he added. Shekhar was the head of content operations at ShareChat before he began running Circle.

This app currently has approx. 130 million monthly active users (MAUs) and even trying to take advantage of TikTok’s absence from India, after the Indian government’s ban. Currently, the company was also in talks with Microsoft recently for an new investment of $100 million.