Twitter Gives a High-Five in Cash to ShareChat
Posted on 08/16/2019
ShareChat is an Indian social network that rivals WhatsApp. Bengaluru-based ShareChat raised US$ 100 million in a Series D round led by social media giant Twitter. Other investors in the Series D round include TrustBridge Partners and return backers China-based Shunwei Capital, Lightspeed Venture Partners, SAIF Capital, India Quotient, and Morningside VC. Shunwei Capital led the US$ 99.2 million Series C round in September 2018. Shunwei Capital is the venture capital firm started by smartphone maker Xiaomi’s founder Lei Jun and Tuck Lye Koh.
Twitter growth in India has plateaued and the social media giant is keen on accessing smaller and regional areas of India.