ShareChat, an Indian social media group, has acquired HPF Movies, a video manufacturing firm specialising in digital content material.
The acquisition will assist ShareChat and Moj, its new short-video platform, strengthen their efforts in direction of constructing a greater content material ecosystem, establishing a stronger creator fraternity, and augmenting their promoting options for manufacturers, the corporate mentioned in an announcement.
“As ShareChat continues on the aggressive development journey, it is vital for us to speculate and construct capabilities required to maintain development on a big base. This acquisition will assist us construct a framework for our creators and nurture them to evolve as influencers on the platform,” mentioned Manohar Charan, Vice-President (Company Growth and Strategic Finance) at ShareChat.
“Furthermore, HPF’s power on the inventive facet can even assist us in creating modern, excessive performing promoting options for the manufacturers taking a look at participating with our audiences,” he added.
Began in 2018, HPF Movies has ideated and produced greater than 3,500 titles throughout totally different codecs together with web-series, digital advertisements, quick movies, and documentaries for manufacturers akin to Meesho, OKCredit, ixigo and Ola amongst others.
These additionally embrace common exhibits akin to Zindagi Specific, Ishq Mohalla, The Courting Scientist, What The Goat and Stones & Wounds.
With the acquisition, a 25-member workforce from HPF Movies has already joined ShareChat and will likely be contributing in direction of content material operations, digital advertising and marketing, inventive options and creator administration for each ShareChat and Moj.
ShareChat presently has over 130 million month-to-month lively customers, whereas Moj has over 50 million month-to-month lively customers.