ShareChat acquires Kae Capital backed meme-sharing app Memer

ShareChat, an Indian social media platform, has acquired Kae Capital-funded Memer, a platform for discovery and sharing of memes, for an undisclosed sum.

The deal is expected to strengthen ShareChat’s product innovation. Following the takeover, Memer’s product suite will be integrated with that of ShareChat, the company said in a statement.

“Today, ShareChat is on a rapid growth path, and it’s really important to keep a sharp focus on product innovation and faster execution. Therefore, we are looking for inorganic opportunities to complement our organic efforts and power the growth engine,” said Manohar Charan, Vice-President (Corporate Development and Strategic Finance), at ShareChat.