Technology giant Microsoft is in talks with Indian-origin ShareChat for an investment of $100 million, according to a report by Mint quoting sources.
If the deal comes to fruition, Microsoft investment will be about a third of what ShareChat is looking to raise in the latest funding round, as per the report.
However, the content sharing platform is likely to raise funds from existing investors before proceeding to new ones. The deal, if ShareChat proceeds, will take a couple of months to close as talks are still at an early stage, sources told the publication.
The news of Microsoft’s dealings with ShareChat comes at a time when the company is in negotiations to purchase popular video-sharing application TikTok in the US.
ShareChat had launched its own video sharing platform, named Moj, a day after the Centre banned 59 Chinese applications.