Twitter is expected to lead the Xiaomi-backed round with an investment of more than $50m, valuing the social networking platform at up to $650m.
India-based social networking app developer ShareChat is set to raise $100m in a funding round led by social media platform Twitter with a commitment of more than $50m, the Economic Times reported on Friday citing unnamed sources.
Consumer electronics manufacturer Xiaomi is also expected to join the round, as are Shunwei Capital, Morningside Ventures and HillHouse Capital. ShareChat is targeting a valuation of $600m to $650m.
Founded in 2015 and owned by holding company Mohalla Tech, ShareChat provides a social…
