ShareChat, a social networking and regional content platform, announced that it has acquired Memer, a meme discovery and sharing platform. Financial details of the transaction remain undisclosed.
Post acquisition, Memer’s product suite will be integrated into Twitter-backed ShareChat, while the eight-member team will join the Bengaluru-based startup.
“Today, ShareChat is on a rapid growth path, and it’s really important to keep a sharp focus on product innovation and faster execution. Therefore, we are looking for inorganic opportunities to complement our organic efforts and power the growth engine,” said Manohar Charan, VP – Corporate Development and Strategic Finance, ShareChat.
“We are on active lookout for startups that complement our product capabilities and share the vision of serving diverse content and social needs of Indian masses,” Manohar said.
ShareChat is an Indian social media startup. It offers the content consumption and sharing platform only in Indian vernacular languages to cater to over 1.17 billion wireless network users of India. It is available in 15 Indian languages. The company has more than 100 million downloads on the Google Play Store.
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