Indian social media platform ShareChat has acquired hyperlocal information platform Circle Internet.
Backed by companies like SAIF Partners and Venture Highway, Circle Internet provides local information to Indian language internet users in tier-II and tier-III cities.
Circle app will be allowed to function independently, and its existing 15-member team will join ShareChat’s team.
Talking about Circle App, Manohar Charan, Vice president of corporate development and strategic finance at ShareChat, said,
“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.”
Manohar Charan added,
“Circle App will continue to grow independently and empower our users to post more relevant and contextual content on the platform.”
With a network of over 1,000 volunteers, Circle Internet has its presence in Uttar Pradesh, Rajasthan, and Kerala right now.
Talking about growth and future plans, Shashank Shekhar, Circle App chief executive and co-founder, said,
“With help of their wide reach, expertise in language-first approach, powerful content serving algorithms, we will soon be reaching out to the majority of districts across India.”
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