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Microsoft in prelim talks with ShareChat for $100 million investment

Microsoft Corp. is looking to invest around $100 million in social media platform ShareChat. The software giant is holding talks with the Bengaluru-based regional language platform.

If the deal comes through, the investment would be one-third of what ShareChat is looking to raise in its latest round, although Microsoft would be just one of the investors in the Indian app, a source told the Mint.

The deal could see ShareChat becoming the latest startup to join India’s unicorn club.

However, the social media platform is likely to raise funds from existing investors before entering into contracts with new ones, another source told the news daily adding that the deal is likely to take a few months as the talks are at an early stage.

Microsoft’s potential investment interest in ShareChat comes at a time when it is negotiating the acquisition of Chinese video-sharing app TikTok’s US operations from its parent company ByteDance.

The tech giant is also mulling to acquire TikTok’s services in India and Europe, according to another report in the Financial Times on Thursday. If the deal with Microsoft doesn’t materialize, the ByteDance might sell its India business to “foreign investors or Indian buyers.”

Curiously, ShareChat launched Moj – its short video-sharing app, a day after the government banned TikTok from India. ByteDance-owned Helo is its (ShareChat) competitor in India.

ShareChat had last raised $100 million from Twitter, which valued the firm at $650 million.

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