MX TakaTak to Merge With ShareChat’s Moj Short Video Platform

Short video platform MX TakaTak will merge with social media agency ShareChat’s Moj platform to create a neighborhood of 100 million content material creators with entry to 300 million month-to-month energetic customers, a joint assertion stated.

Both Moj and MX TakaTak have been launched in July 2020 after the federal government banned a bunch of Chinese apps, together with in style brief video platform TikTok.

“MX Media, the parent company of MX TakaTak, and ShareChat, the parent company of Moj, today announced a strategic merger between Moj and MX TakaTak, to create the largest short video platform for Indians, whereby the two platforms will now be controlled by ShareChat,” the assertion stated.

The mixed platform may have 100 million creators, over 300 million Monthly Active Users (MAU), and practically 250 billion month-to-month video views.

Post this transaction, MX Media and its shareholders will turn into strategic shareholders of ShareChat, the assertion stated.

Moj claims to have over 160 million MAUs and over 50 million creator communities in 15 Indian languages. It has a group of over 100 folks, unfold throughout the US, Europe, and India.

MX TakaTak was launched in July 2020 and reached 150 million MAUs, throughout 10 languages.

“We at ShareChat are building India’s largest content ecosystem which has been on an unprecedented growth trajectory. MX TakaTak is a popular platform and this merger further solidifies our position in the short video ecosystem.

“With this growth, we purpose to construct the biggest unique content material platform on Moj together with the biggest neighborhood of customers throughout India,” ShareChat and Moj co-founder and CEO Ankush Sachdeva said.

MX TakaTak will continue to function as a separate platform for now, but the two platforms’ creator base, content supply and recommendation algorithms will be integrated.

In the coming months, the experience of users and creators will converge enabling creators from both platforms to reach the most extensive set of audiences in India, the statement said.

“As India’s largest digital leisure platform, MX has at all times strived to construct superior world class merchandise, and TakaTak isn’t any exception. This mixed with Moj’s AI and execution capabilities makes the mixed enterprise a very world class brief video platform.

“MX has created two ‘unicorns’ within one business, unlocking significant value for our shareholders, and will now continue to double down on OTT, with significantly increased financial resources,” MX Media CEO Karan Bedi stated.