IndusLaw guides Social Media Unicorn

IndusLaw guides Social Media Unicorn

Due to its acquisition of TakaTak, Share Chat will be able to consolidate its position in the Indian short video market and become India's biggest platform for such videos. Sharing Chat has already acquired the leading short video app 'Moj.'

Share Chat has acquired video app MX TakaTak for USD 700 million from MX Media, a social media unicorn. Indus Law was its legal counsel. Shares and cash were exchanged for the deal.

Consequently its acquisition of TakaTak, Share Chat will be able to consolidate its position in the Indian short video market and become India's biggest platform for such videos. A leading short video application called Moj is already owned by Share Chat.

MX TakaTak will operate independently, though for now, its creator base, content supply and algorithmic recommendations may eventually integrate.

The deal together got structured and stitched in many innovative ways since it was quite complex.

Team INDUSLAW represented by Manish Gupta (Partner), Nikita Goyal (Principal Associate), Ashish Ahluwalia (Principal Associate) and Rashi Singh (Associate) closed a transaction worth approximately USD 700 million.

In addition to Anubha Sital (Partner) for Corporate Advisory, Shreya Suri (Partner) for Regulatory, Vaibhav Bhardwaj (Partner) for Employment and Bharadwaj Jaishankar (Partner) for IP, there were four additional colleagues who provided support to the deal team. The other members of the team are Aayushi Tiwari (associate), Deepansh Goyal (associate), Shiluti Walling (associate) and Donavie Dcosta (associate); among others law firms, there was SAM CO. representing MX and TIL.

Among other seller firms, Gunderson, Touchstone Partners and Latham & Watkins represented them.