Report: Twitter Wants to Buy ShareChat to Rival TikTok

Email From Fleets to newsletters and now short-form video content, Twitter wants to cover all its bases. Internet users are currently riding an increased interest in quick, easy-to-consume video content. Social media platforms were very quick to adapt stories, or disappearing portrait photos and videos, soon after Snapchat emerged in 2011. Now, Twitter is looking to clone TikTok’s features in a similar fashion… or better yet, buy another app that already has. Three sources told TechCrunch that Twitter was looking to acquire Indian social media startup ShareChat in order to push it to compete with TikTok, a Chinese video-sharing service that has exploded in popularity over the last few years. India banned TikTok in June 2020, which has since caused local startups and international companies to try and master the short-form video format. Twitter reportedly offered to buy ShareChat for $1.1 billion, on top of a $900 million investment. However, the deal fell through for reasons unspecified. Some users speculate it’s because ShareChat partnered with Snapchat recently to launch Camera Kit. Although ShareChat claims to have over 160 million users, it is said that Twitter’s primary interest was in Moj, a short-form video app that ShareChat owns. Moj describes itself a stage for “never-ending entertaining videos to watch…
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