M&A

M&A

ShareChat, MX Media merge short video apps Moj and MX TakaTak

Social Media Pos   Financial Express   Economic Times  

MX Media Co. Ltd, the parent company of MX TakaTak, and ShareChat, the parent company of Moj, have entered into a strategic merger pact between Moj and MX TakaTak. The two platforms will now be controlled by ShareChat. The combined platform will have 100 million creators, over 300 million monthly active users (MAU), and nearly 250 billion monthly video views. Post this transaction, MX Media and its shareholders will become strategic shareholders of ShareChat. The deal value is reported to be around $700 million. MX TakaTak will continue to function as a separate platform for now, but the two platforms' creator base, content supply and recommendation algorithms will be integrated. Launched in July 2020, Moj has over 160 million MAUs and over 50 million creator communities in 15 Indian languages. The company has been investing heavily in social and live commerce and growing its AI/ML team which is now over 100 people strong and spread across the US, Europe, and India. MX TakaTak was launched in July 2020 and reached 150 million MAUs, across 10 languages.