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The Economic Times of India reports that Alphabet’s Google (NASDAQ: GOOG) (NASDAQ: GOOGL) is in talks to invest in Alphabet’s ShareChat. Neither the prospective terms nor the value were revealed in the article, which quoted “two other people familiar with the matter” as resources. Nor did these resources speculate on the duration of the problem; said the discussions were at an early stage.
ShareChat is a social network where users can create and distribute content in classic languages that are used throughout the country.
The site aims to raise between 150 and two hundred million dollars, so all discussions with Alphabet/Google are likely to be around this range. Last month, Google launched its India Digitization Fund, a $10 billion initiative to channel investments into promising companies in the country.
Alphabet and Google have not yet officially commented on the article, nor ShareChat. According to Sources from Economic Times, ShareChat is also in talks with other potential investors. These were not named through the source, however, before this month, another Indian monetary news site, Mint, reported that Microsoft was discussing an investment of about $100 million in the company.
If one or any of those U.S. tech titans have become ShareChat investors, they would have a family business. Last summer, he reported that Twitter had made a $100 million financing circular at the Indian company.
At the expiration of Monday afternoon, any of Alphabet’s inventory categories increased slightly, surpassing modest profits in the S.P.500 of the day.