MX TakaTak partners with ShareChat’s Moj short video platform

ShareChat, the parent company of short-video platform Moj, announced a strategic partnership with MX Taka Tak on Friday.

Both Moj and MX TakaTak were launched in July 2020 after the government banned a host of Chinese apps, including the popular short video platform TikTok.

The merger is aimed to create the largest short video platform for Indians, whereby the two platforms will now be controlled by ShareChat. Post this transaction, MX Media and its shareholders will become strategic shareholders of ShareChat. However, the companies have not disclosed the exact details and amount for the deal.

“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,” said Ankush Sachdeva, CEO, and co-founder, ShareChat and Moj.

“I am excited to announce the strategic merger of India’s two most popular social media platforms. As India’s largest digital entertainment platform, MX has always strived to build superior world-class products, and mTakaTak 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,” Karan Bedi, CEO of MX Media said in a statement.

As per the report, Moj was launched in July 2020, and has over 160 million monthly active users and over 50 million creator communities in the 15 Indian languages. Meanwhile, MX TakaTak was also launched in July 2020 and has reached 150 million monthly active users, across 10 languages.