The parent company of India s ShareChat will acquire local rival MX s short-video platform in an around $700-million (roughly Rs. 5,250 crore) deal, two sources said, as competition heats up in the sector where foreign investors have placed major bets.
The report also highlighted that the users in India spent 4.7 average hours per day on mobile in 2021 compared to 4.5 hours in 2020 and 3.7 hours in 2019