ShareChat buys hyperlocal information platform Circle Internet

Bengaluru: Homegrown social media app ShareChat has acquired hyperlocal information platform Circle Internet. “The acquisition will help us penetrate deeper into geographies and nurture a thriving hyperlocal content ecosystem that will understand and serve the latent content needs of the next billion internet users more effectively,” said Manohar Charan, VP – Corporate Development and Strategic Finance, ShareChat. SAIF Partners is a common investor in ShareChat and Circle Internet. Circle Internet provides locally-relevant information to Indian language internet users across tier-II and tier-III cities. Circle Internet’s 15-member team has joined ShareChat, and CEO Shashank Shekhar will head the overall content strategy of the Twitter-backed social media platform.