‘Company X not buying Company Y’ may seem like a pointless news story: we may as well tell you that Music Ally isn’t buying Spotify, right? But news that Twitter was in talks about a potential acquisition of Indian tech company ShareChat *is* interesting, even if the deal appears to have run into the rocks.
TechCrunch claimed that Twitter had offered $1.1bn, with a further investment budget of $900m to take ShareChat’s short-video app Moj “to international markets and position it as a rival to Chinese app TikTok”.
We’ve been writing about Moj as one of the Indian TikTok rivals with most traction: 80 million users at the time of writing. It was also one of the first of those apps to sign music licensing deals, as well as signing up for Audible Magic’s copyright-detection technology.
News of Twitter’s interest follows recent reports that Google and Snap might be investing in ShareChat.