ShareChat to buy MX TakaTak, the shortplayer app for over $600 million

ShareChat in big move bought out Times Internet-owned short video app MX TakaTak, creating India’s largest short-video platform. The two released a statement regarding the 'strategic merger' but did not disclose the price.

Reports indicate MX Media, the parent firm of MX Player and MX TakaTak, and its shareholders are becoming strategic holders in ShareChat’s parent firm Mohalla Tech. The size of the deal is about $700 million as per reports and it includes both cash and equity. MX TakaTak will be rebranded in roughly six months.

The move is expected to strengthen ShareChat’s short video play through the platform, Moj. With the acquisition, Moj (160 million monthly active users), and MX TakaTak (150 million), together will have a combined active user base of over 300 million. Its local competitor Josh has over 115 million MAUs.