ShareChat acquires SAIF Partners-backed Circle Internet

Sharechat on Monday said it has acquired Bengaluru-based Circle Internet for an undisclosed amount, a move that will help the homegrown social media app strengthen hyperlocal content on its platform.

Circle Internet was launched in 2018 by Uchit Kumar, Gaurav Agrawal and Shashank Shekhar (a former ShareChat executive).

Backed by SAIF Partners and Venture Highway, Circle Internet provides locally relevant information to Indian language internet users across tier-II and -III cities and currently has a presence in more than 120 districts across Uttar Pradesh, Rajasthan and Kerala.

Over two million hyperlocal content pieces have been created on the platform since inception, contributed by both users and verified creators.