The Bangalore-based social network ShareChat may add Google and Snap Inc. to its investors, according to Techcrunch. ShareChat was raised $100 million in a Series D funding round from Twitter in August 2019.
Sources familiar with the matter told Techcrunch that the new funding round is expected to be more than $200 million. Google alone is expected to put in more than $100 million of it.
With the Series E investment round, Twitter-backed ShareChat valuation will be over $1 billion, Techcrunch reported. The terms of the deal could change and the talks may not materialize into an investment, the sources said.
UPDATE (08.04.2021): ShareChat raises $502 million at a $2.1 billion valuation
India’s ShareChat has raised about $264 million so far and the company was valued at nearly $700 million in 2020.
If the deal goes through, it would be the first investment from Snapchat’s parent company into an Indian startup.