ShareChat Acquires SAIF Partners Backed Circle Internet

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Circle’s strength around hyperlocal content to be capitalised across 25+ content genres on ShareChat

ShareChat, the largest Indian Social Media platform, today announced its acquisition of Circle Internet, the hyperlocal information platform for language-first Indian internet users. Launched in 2018, Circle quickly gained immense popularity among language-first internet users across multiple states.

Circle provides locally relevant information to Indian language internet users across tier-2 & 3 cities, and currently has a presence in more than 120 districts across Uttar Pradesh, Rajasthan, and Kerala. The platform brings a network of over 1000 volunteers to contribute towards the hyperlocal content ecosystem.

Commenting on the acquisition, Manohar Charan, VP – Corporate Development and Strategic Finance, ShareChat, said “ShareChat is growing faster than the industry, and we are investing in our capabilities to serve diverse content needs of the new users that we add to the platform. The acquisition will help us penetrate deeper into geographies and nurture a thriving hyperlocal content ecosystem that will understand and serve the latent content needs of, the next billion internet users more effectively. Circle’s hyperlocal expansion playbook complements ShareChat’s wide user base to create a strategic advantage and enhance our operational muscles to boost a community-powered content ecosystem”

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“Circle App will continue to grow independently and empower our users to post more relevant and contextual content on the platform. Circle content can be further leveraged to diversify the content palette at ShareChat, and drive more community-driven engagements. We are really excited to have the entire Circle team onboard and welcome them to ShareChat,” added Charan

With the acquisition of Circle’s business, the existing 15-member team has joined ShareChat and will be contributing towards building a language-first, community-driven user generated hyperlocal content ecosystem.

Circle was founded in 2018 by three IIT-ians Uchit Kumar, Gaurav Agrawal, and Shashank Shekhar and was backed by SAIF Partners and Venture Highway. Over two million hyperlocal content were created on the platform since inception, contributed by both users and verified creators.

ShareChat has over 130 million monthly active users, and available across 15 Indic languages.

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