June 2

Google Backs India’s ShareChat in $300 Million Funding Round at $5 Billion Valuation

Munsif Vengattil

The parent company of India’s ShareChat has raised nearly $300 million in fresh funding from Alphabet Inc’s Google, media giant Times Group and Singapore’s Temasek Holdings, valuing the social media firm at nearly $5 billion, two sources involved in the deal discussions told Reuters.

A deal is set to be announced as early as next week, the sources added.

ShareChat’s parent company, Mohalla Tech, did not respond to a request for comment. Google and Temasek did not immediately respond to requests for comment, while Reuters could not immediately reach the Times Group.

Photo courtesy of Pixabay.

Source: U.S. News & World Report (link opens in a new window)

Investing, Technology