MX TakaTak and Moj announce merger
The two platforms will now be controlled by ShareChat
Feb 11, 2022 04:26:00 AM | Article | Campaign India Team
MX Media, the parent company of MX TakaTak, and ShareChat, the parent company of Moj, announced a strategic merger between Moj and MX TakaTak.
Through this consolidation, they aim to create a short video platform for the Indian market.
The combined platform aims to have 100 million creators, 300 million monthly active users (MAU), and nearly 250 billion monthly video views.
Post this deal, MX Media and its shareholders will become strategic shareholders of ShareChat. ShareChat will control the consolidated platforms.
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.
Ankush Sachdeva, CEO and co-founder, ShareChat and Moj, said, “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 development, we aim to build the largest original content platform on Moj along with the largest community of users across India.”
Karan Bedi, CEO, MX Media, said, “I am excited to announce the strategic merger of India’s two social media platforms. MX has always strived to build superior world-class products, and TakaTak is no exception. This combined with Moj’s AI and execution capabilities makes the combined business a truly world-class short 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.”