New Delhi, Sep 16 (IANS) Home-grown social media group ShareChat on Wednesday said it had acquired HPF Films, a video production company specialised in digital content.
The acquisition is aimed at helping ShareChat and its short video platform Moj, a TikTok rival, to strengthen their efforts towards building a better content ecosystem, establishing a stronger creator fraternity, and augmenting their advertising solutions for brands, the company said, without disclosing the amount spent for the new acquisition.
Started in 2018, HPF Films has ideated and produced over 3,500 titles across different formats including web-series, digital ads, short films, and documentaries for more than 20 brands like Meesho, OKCredit, ixigo and Ola among others.
“As ShareChat continues on the aggressive growth journey, it is important for us to invest and build capabilities required to sustain growth on a large base,” Manohar Charan, VP – Corporate Development and Strategic Finance, ShareChat, said in a statement.
“This acquisition will help us build a framework for our creators and nurture them to evolve as influencers on the platform.”
With the acquisition, a 25-member team from HPF Films has already joined ShareChat and will be contributing towards content operations, digital marketing, creative solutions and creator management for both ShareChat and Moj.
“Given our expertise, we will assist the creators on ShareChat and Moj for better content creation through workshops, training etc. and strengthen the content operations and ad solutions,” said Navin Lalwani, Chief Operating Officer and Co-founder, HPF Films.
HPF Films has developed its video production and content capabilities across 12 Indic languages.
Currently, it owns over 100 channels across multiple digital platforms, with a network of more than 120 collaborating artists.
ShareChat said it presently has over 130 million monthly active users, while Moj has over 50 million monthly active users.
The company last month announced the acquisition of Circle Internet, a hyperlocal information platform.