Mumbai (Maharashtra) [India], February 11 (ANI/Mediawire): MX Media Co. Ltd, the parent company of MX TakaTak, and ShareChat, the parent company of Moj, today announced a strategic merger between Moj and MX TakaTak, to create the largest short video platform for Indians, whereby the two platforms will now be controlled by ShareChat. The combined platform will have 100 million creators, over 300 million Monthly Active Users (MAU), and nearly 250 billion monthly video views. Post this transaction, MX Media and its shareholders will become strategic shareholders of ShareChat.
Since its launch in July 2020, Moj has emerged as the largest Indian short video app, with over 160 million MAUs and over 50 million creator communities in the 15 Indian languages. The company has been investing heavily in social and live commerce and growing its AI/ML team which is now over 100 people strong and spread across the US, Europe, and India. MX TakaTak was launched in July 2020 and reached 150 million MAUs, across 10 languages. The platform's deep access to content talent and understanding of the MX Media ecosystem user base has seen this high growth in a short span of time.
MX TakaTak will continue to function as a separate platform for now, but the two platforms' creator base, content supply and recommendation algorithms will be integrated. In the coming months, the experience of users and creators will converge enabling creators from both platforms to reach the most extensive set of audiences in India. This will provide users access to unique features including best-in-class camera creation tools with Snap filters, live commerce, and a vast music library.
Commenting on the merger, Ankush Sachdeva, CEO and Cofounder, ShareChat & Moj, said, "We at ShareChat are building India's largest content ecosystem which has been on an unprecedented growth trajectory. MX TakaTak is a popular platform and this merger further solidifies our position in the short video ecosystem. With this development, we aim to build the largest original content platform on Moj along with the largest community of users across India."
Commenting on the partnership, Karan Bedi, CEO MX Media said, "I am excited to announce the strategic merger of India's two most popular social media platforms. As India's largest digital entertainment platform, MX has always strived to build superior world-class products, and TakaTak is no exception. This combined with Moj's AI and execution capabilities makes the combined business a truly world-class short video platform. MX has created two 'unicorns' within one business, unlocking significant value for our shareholders, and will now continue to double down on OTT, with significantly increased financial resources."
With the highest monthly active user base of 160 million amongst Indian short video apps, Moj is India's #1 short video app. Launched in July 2020, Moj is a platform for creators to showcase their talents and entertain Indian audiences across different genres. Moj is home to more than 50 million creators that connect with India through content created in 16 different languages. Moj has an easy UI, one of the biggest music libraries, and unique camera filters.
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MX Media has built the largest digital entertainment ecosystem in India with 1Bn-plus app downloads on Android, 280M-plus MAUs and 200,000 hours of content across 10 languages. MX Media includes MX Player, India's #1 OTT, as well as MX Games, MX Music and more. MX Player offers a critically acclaimed slate of MX Original/ Exclusives, movies, web series, TV shows and news. The app is available across Android, iOS, Web, Amazon Fire TV Stick, Android TV and OnePlus TV amongst others.
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