Snapchat’s looking to maintain connection with the emerging Indian market by investing in local social platform ShareChat, which already counts Twitter among its shareholders. As reported by TechCrunch, ShareChat is in advanced stages of talks to raise a new funding round, which will include Snap Inc. and Google, along with several existing investors. Google will reportedly be taking on the majority of the new investment, further boosting its focus on the Indian market, while Snapchat will be looking to establish new roots in the Indian tech sector, which is set to see explosive growth as the country gradually emerges from the COVID-19 pandemic. As technology adoption grows in India, all of the US tech giants are working to gain a foothold in the region, and tap into the potential of the nation’s 1.4 billion citizens. Facebook and Google have both made significant investments in the Indian market, with Facebook putting $5.7 billion in local internet provider Jio last year (of which Google also owns a 7.73% stake). Facebook has also sought to build on its presence in the region by filling the gap left by the local ban on TikTok. Facebook launched Instagram’s Reels in India before it was launched anywhere else, and the…
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Snapchat Looks to Establish Connection to Emerging Indian Market Through Investment in …
