Short video apps are joining hands 🤙

Short video apps are joining hands 🤙

What happened — Sharechat is rumored to be buying out short-video platform MX TakaTak in a $600-$700 million cash + stock deal, set to be signed off by the end of this month. SC will group TakaTak with its own TikTok-clone, Moj.

That’s the first mega exit in the short-video races that began just over 2 years ago when TikTok was banned in India. TakaTak, with a focus on vernacular content and Bharath-audience, scaled to about 120 million or so users, with about 70-80 million monthly actives. Not bad for such a short time frame!

Sharechat’s Moj meanwhile has been at the forefront of the races — raising hundreds of millions, and reaching up to 165 million+ monthly active users says TechCrunch. Combined the duo could reach a base of 200-250 million unique people, if there ins’t much overlap in their base.

Anyway, the deal leaves 2 other formidable rivals in foray — Josh and Roposo. Not to mention Meta’s Reels and YouTube’s Short as well.

Big picture — impressions and time spent is quickly gravitating towards short-video across social platforms. Zuckerberg just asked Meta teams to focus on milking Reels. YouTube is following too. Not unimaginable to think of more consolidation and takeouts coming in the space near term.