Moj 🤝🏻 MX Takatak, Zomato's $400Mn bet 💰, Microsoft's app store guidelines 🚧
ShareChat and MX Player merge their short video apps, Zomato to invest $400 mn, Microsoft unveils new app store guidelines, Funding Deals & more.
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ShareChat seals strategic merger with MX Taka Tak🤝🏻
While the deal value remains undisclosed, reports suggest ShareChat could pay up to $600-700 million for MX TakaTak as it seeks to strengthen its short-form video play.
The combined short video platform will have over 300 million monthly users with Moj and MX TakaTak contributing about 150 million users each. After this transaction, MX Media and its shareholders will become a part of ShareChat, which will assume the responsibility to run both the short-form apps.
For now, MX TakaTak will continue to function as a separate platform, but the two platforms’ creator base, content supply and recommendation algorithms will be integrated in the coming months, according to the joint statement.
Zomato to invest $400 mn in quick commerce over next two years⏳
Zomato said that it will continue to invest both in its core food business and in quick commerce – and updated the upper bound of our potential investments in this category to $400 million cash over the next two years.
It is also in the process of setting up an NBFC which will help it provide credit to customers, restaurants and delivery partners. According to media reports earlier today, the foodtech major is planning to offer its own buy now pay later service.
The company has made cash investments worth around $225 million in the past year across three companies – Blinkit (earlier Grofers), Shiprocket and Magicpin.
Zomato said that in the ongoing quarter, it has so far made two additional minority equity investments in UrbanPiper ($5 million) and Adonmo ($15 million).
WealthTech platform Wealthy.in has secured raised $7.5 million in Series A round of funding led by Alpha Wave Incubation (AWI).
Home decor and furniture ecommerce platform Spacejoy has raised $4 million in a funding round, led by Accel.
Automotive cybersecurity startup SecureThings.ai has secured $3.5 million in a funding round led by tech-focused VC fund Inflexor Ventures.
Digital coaching platform Peakperformer has closed $3 million in seed funding from Sequoia Capital.
Better Opinions has raised over $1 million in a funding round from Y Combinator, Java Capital and Soma Capital.
Microsoft unveils new app store guidelines as it woos regulators on deal🚧
Microsoft has announced a new set of principles for its app store, including open access to developers who meet privacy and security standards, as it begins a push to win approval for its blockbuster acquisition of ‘Call of Duty’ maker Activision Blizzard Inc.
The $68.7 billion purchase, announced last month, was the biggest gaming industry deal in history.
Microsoft will file for approval of the deal in 17 jurisdictions, the company's president Brad Smith said. He said he had previewed the app store policies with US lawmakers and received "a positive reaction."
"Our goal is to build what's called a universal store for games," he added.
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