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Market Overview

Snap Partners With ShareChat's Moj App To Tap Indian AR Market

  • Snap Inc (NYSE: SNAP) forged an eight-month partnership with India’s ShareChat’s Moj app to integrate its camera kit into the Indian app, TechCrunch reports.
  • The partnership will enable Snap to penetrate the Indian market with its Augmented Reality technology, according to Snap’s SVP Ben Schwerin.
  • ShareChat was in talks with Alphabet Inc’s (NASDAQ: GOOG) (NASDAQ: GOOGL) Google, Snap, Twitter Inc (NYSE: TWTR), and other investors for fundraising, according to a TechCrunch report last month.
  • Snap had 80 million monthly active users in India in December, while ShareChat had over 160 million monthly active users in India.
  • Moj app launched after the last year TikTok ban in June had 80 million users in September.
  • Price action: SNAP shares are trading 0.80% higher at $63.3 on the last check Wednesday.

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