SHAREit Acquires South Indian Movie Streaming App
SHAREit, the Beijing-based file sharing platform recently announced the acquisition of movie app Fastfilmz that only displays South Indian movies, for an undisclosed amount.
SHAREit revealed in a statement that the acquisition valued the company at $13 million. Fastfilmz last raised a funding round of $4 million last year. The founder of Fastfilmz, Karam Malhotra will move to SHAREit office, taking the post of Chief Executive of SHAREit India.
The acquisition of Fastfilmz has been made to carry out the ambitions of the Chinese tech company in distributing wider contents across regional languages as well.
Fastfilmz operates as an over-the-top (OTT) platform meaning that it sells the movies it broadcasts directly to its customer base over the internet through streaming media, instea...