Twitter backed Indian social media platform, ShareChat, has acquired video production company Hera Pheri Films (HPF Films). The acquisition will assist the company to strengthen its content ecosystem, enhance creator community and assist present higher promoting options for manufacturers, for each ShareChat and Moj, its new short-video platform.
The deal dimension wasn’t disclosed.
HPF Films presently produces content, together with internet collection, digital ads, brief movies and documentaries. The company has labored with manufacturers like Meesho, Ixigo, OKCredit, Ola Cabs and extra. Its well-known reveals embody What The Goat, Stones & Wounds and The Dating Scientist.
The company’s 25 member group has now joined ShareChat and can be caring for the company’s content operations, digital advertising and marketing and extra. “We will help the creators on ShareChat and Moj for higher content creation by means of workshops, coaching and many others. and strengthen content operations and advert options,” mentioned Navin Lalwani, chief working officer and co-founder of HPF Films.
Essentially, the company will proceed working with different manufacturers, however will create content just for ShareChat and Moj. So far, HPF Films has additionally made reveals that air on YouTube and sure different platforms.
This is ShareChat’s second acquisition in two months, because the company seems to be at profiting from TikTok ban in India. The social media company acquired hyperlocal data platform Circle Internet final month, to enhance penetration within the regional web house.
ShareChat has been one of many greatest beneficiaries from the Indian authorities’s ban on Chinese apps like TikTok, Helo, Vigo Video amongst others. The company launched Moj lower than two days after the ban and has been battling rivals like MX Taka Tak and DailyHunt’s Josh to enhance its content and creator ecosystem.
ShareChat is in talks with traders to lift funds for these platforms, Microsoft being one amongst them, Mint had reported earlier. The company is presently valued at roughly $650 million, and will enter the unicorn membership with its subsequent spherical of funding.