Home-grown social media group ShareChat on Wednesday stated it had acquired HPF Films, a video making firm specialised in digital content.
The acquisition is geared toward serving to ShareChat and its quick video platform Moj, a TikTok rival, to strengthen their efforts in direction of constructing a greater content ecosystem, establishing a stronger creator fraternity, and augmenting their promoting options for manufacturers, the corporate stated, with out disclosing the quantity spent for the brand new acquisition.
Started in 2018, HPF Films has ideated and produced over 3,500 titles throughout completely different codecs together with web-series, digital advertisements, quick movies, and documentaries for greater than 20 manufacturers like Meesho, OKCredit, ixigo and Ola amongst others.
“As ShareChat continues on the aggressive development journey, it is crucial for us to spend and construct capabilities required to maintain development on a big base,” Manohar Charan, VP – Corporate Development and Strategic Finance, ShareChat, stated in an announcement.
“This acquisition will assist us construct a framework for our creators and nurture them to evolve as influencers on the platform.”
With the acquisition, a 25-member crew from HPF Films has already joined ShareChat and shall be contributing in direction of content operations, digital advertising and marketing, inventive options and creator administration for each ShareChat and Moj.
“Given our experience, we’ll help the creators on ShareChat and Moj for higher content creation by way of workshops, coaching and many others. and strengthen the content operations and advert options,” stated Navin Lalwani, Chief Operating Officer and Co-founder, HPF Films.
HPF Films has developed its video making and content capabilities throughout 12 Indic languages.
Currently, it owns over 100 channels throughout a number of digital platforms, with a community of greater than 120 collaborating artists.
ShareChat stated it presently has over 130 million month-to-month lively customers, whereas Moj has over 50 million month-to-month lively customers.
The firm last month introduced the acquisition of Circle Internet, a hyperlocal info platform.
[Attribution Business Standard.]