ShareChat acquires Memer, looking for more buyouts
Indian social media platform ShareChat has acquired Kae Capital-backed meme-sharing app Memer and is looking for more buyouts, the company said on Monday.
The deal size was however not disclosed by the company.
ShareChat claims to have around 6 crore monthly active users and aims to cross the 12-crore mark by the end of 2020.
"We are on an active lookout for startups that complement our product capabilities and share the vision of serving diverse content and social needs of Indian masses. Memer happens to be the first step towards this approach,"Manohar Charan, vice president for corporate development and strategic finance, ShareChat said in a statement.
The integration of Memer into ShareChat will help it bring more variations to content, a better user experience that may lead...