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ShareChat buys meme-sharing app Memer

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BENGALURU: Twitter-backed social media startup ShareChat has acquired Bengaluru-based Memer, a platform that allows users to discover and share memes in regional languages.

The terms and details of the transaction were not disclosed. Memer, which was founded by three Indian Institute of Technology (IIT) graduates in August 2018, has gained popularity in regional markets, especially among young audiences.

With the acquisition, Memer’s product suite will be integrated into ShareChat. This is ShareChat’s second acquisition in a year.

In February, the social media startup had bought another Bengaluru-based online fashion marketplace Elanic for an undisclosed amount, indicating its interest to venture into e-commerce.

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