New Delhi: House-grown regional language social media app ShareChat on Monday introduced it has acquired Circle Web, a hyperlocal data platform, for an undisclosed sum.
With the acquisition, the present 15-member Circle Web staff has joined ShareChat.
“The acquisition will help us penetrate deeper into geographies and nurture a thriving hyperlocal content ecosystem that will understand and serve the latent content needs of, the next billion internet users more effectively,” Manohar Charan, Vice President – Company Growth and Strategic Finance, ShareChat, mentioned in an announcement.
“Circle App will continue to grow independently and empower our users to post more relevant and contextual content on the platform.”
Circle was based in 2018 by three IIT-ians Uchit Kumar, Gaurav Agrawal, and Shashank Shekhar and was backed by SAIF Companions and Enterprise Freeway.
It offers regionally related data to Indian language Web customers throughout tier-2 and tier-Three cities, and at present has a presence in additional than 120 districts throughout Uttar Pradesh, Rajasthan, and Kerala.
The platform brings a community of over 1,000 volunteers to contribute in direction of the hyperlocal content material ecosystem.
“Circle was started with a vision to provide trustworthy locally relevant information to Indian language internet users,” mentioned Shekhar, CEO and Cofounder, Circle.
“The platform evolved as an invisible thread to bridge the gaps in content being made available to non-english speaking internet users, through relevant and contextual hyperlocal content.”
Shekhar was heading content material operations at ShareChat earlier than he began Circle.
In his new avatar, he will probably be heading the general content material technique for ShareChat which has has over 130 million month-to-month energetic customers, and out there throughout 15 Indic languages.
Desi App Chingari Raises Practically Rs 10 Crore In Seed Funding
After TikTok Ban, ByteDance Reaches Out To Reliance Jio For A Deal