MX Media Co. Ltd, the discern business enterprise of MX TakaTak, and ShareChat, the discern business enterprise of Moj, nowadays introduced a strategic merger among Moj and MX TakaTak, to create the most important quick video platform for Indians, wherein the 2 structures will now be managed via way of means of ShareChat.
The mixed platform may have a hundred million creators, over three hundred million Monthly Active Users (MAU), and almost 250 billion month-to-month video views.
Publish this transaction, MX media and its shareholders are transformed into Strategic Shareholders ShareChat. Since its release in July 2020, Moj has emerged as the most important Indian quick video app, with over one hundred and sixty million MAUs and over 50 million writer groups in all 15 Indian languages.
The business enterprise has been investing closely in social and stay trade and developing its AI/ML group that’s now over a hundred humans robust and unfold throughout the US, Europe, and India.
MX TakaTak turned into released in July 2020 and reached one hundred fifty million MAUs, throughout 10 languages. The platforms deep get right of entry to content material expertise and knowledge of the MX Media surroundings person base has visible this excessive boom in a quick period.
MX TakaTak will maintain to feature as a separate platform, for now, however the structures’ writer base, content material deliver and advice algorithms may be integrated. In the approaching months, the enjoyment of customers and creators will converge allowing creators from each structure to attain the maximum big set of audiences in India.
This will offer customers get right of entry to precise functions together with best-in-elegance digital digicam introduction gear with Snap filters, stay trade, and an enormous song library.
Commenting on the merger, Ankush Sachdeva, CEO, and Co-Founder, ShareChat & Moj said, “We at ShareChat are constructing India’s biggest content material surroundings which have been on an unparalleled boom trajectory.
MX Takatak is a popular platform and this merger consolidates our function with the fast video environment. With this development, we intend to construct the most importantly unique content material platform on Moj together with the most important network of customers throughout India.
” Commenting at the partnership, Karan Bedi, CEO MX Media said, “I am excited to announce the strategic merger of India’s maximum famous social media structures. As India’s biggest virtual leisure platform, MX has constantly strived to construct advanced international elegance products, and TakaTak isn’t any exception.
This mixed with Moj’s AI and execution abilities makes the mixed commercial enterprise an, in reality, international elegance quick video platform.
MX has created ‘unicorns’ inside one commercial enterprise, unlocking substantial cost for our shareholders, and could now maintain to double down on OTT, with notably extended monetary resources.”