Twitter feels the need to continue growing, and has come to consider the short video segment, dominated by TikTok, as the best way to expand its presence on the Internet to reach more users around the world.
In this way, TechCrunch has learned, based on three close sources, that the American company has been in talks to acquire ShareChat, an emerging company of Indian origin, for more than one billion dollars, with the promise of investing another 900 million additional , although finally no agreement was reached, the reasons for this are currently unknown.
Looking to have a great rival to TikTok among its services
The cessation of conversations with Twitter has allowed ShareChat can resume the postponed talks to receive a new round of financing among a group of investors, including Google and Snap, with the idea of receiving an additional 200 million.
It is the circumstances that these postponed conversations began to take place with investors last January, where Twitter was also located, which is also one of its investors.
The blue bird social network was specifically set on Moj, the ShareChat short video application, which has more than 80 million active users, gaining in importance within this segment thanks to, among other things, the Ban TikTok in Indian territory along with 58 other applications, which has made possible the appearance of more options, both local and international, with the pretense of taking its place.
From Twitter, they see Moj as the ideal application to create a true rival to TikTok on an international level. With the acquisition of ShareChat, Twitter could have reached Indian population segments beyond the main towns and cities, and could have reached a greater number of users, considering that ShareChat claims to have more than 160 million users.
Given the success of TikTok, there are many giants that are trying to steal market share with their own proposals to continue growing, which, obviously, must be matured to reach the same level of possibilities, both at the level of tools and attracting customers. creators and users.
And Twitter is no exception, especially when its own investors try to accelerate their growth by expanding their product offering, with the Twitter Spaces among them. For now, Twitter has not wanted to comment on the matter.
Image: Twitter.com web page