Twitter to invest $100 million in Indian social network ShareChat
American microblogging platform Twitter, which is used by over 300 million people worldwide, is investing $100 million in a new social media service, according to TechCrunch.com.
Twitter invests $100 million in ShareChat
Twitter’s hundred million funding focuses on ShareChat, an India-based social network, available in several local languages and dialects. The Indian platform was set up 4 years ago, while Twitter has been online for 13 years.
Alongside Twitter, investment firms such as TrustBridge Partners, Shunwei Capital, Lightspeed Venture Partners, SAIF Capital, India Quotient and Morningside Venture Capital expressed their intention to participate in the D Series financing round.
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Twitter was founded in March 2006 by Jack Dorsey, Noah Glass, Biz Stone and Evan Williams.
Worldwide, there are about 320 million active users on Twitter.
By comparison, Mark Zuckerberg’s social network Facebook has about 2.3 billion active users at the global level.