Indian ShareChat welcomes government’s ban on Chinese apps

Stock Market

Indian regional social media firm, ShareChat, has welcomed the government’s transfer to ban 59 Chinese apps within the nation. The ban contains Helo, an app owned by Chinese Bytedance, which is a direct competitor to ShareChat and had amassed 50 million month-to-month lively customers by June final yr.

“This is a welcome move from the government against platforms that have had serious privacy, cyber security and national security risks. We expect the government to continue their support for the Indian startup ecosystem” mentioned Berges Malu, Director, Public Policy, ShareChat.

The Twitter-backed firm has over 60 million month-to-month lively customers and is valued at between $600 and $650 million. The government’s transfer might really be of giant profit to Sharechat. The record additionally contains TikTok (owned by Bytedance) and Likee (owned by Singapore-based Bigo Technologies), each of which have an identical goal consumer base as Sharechat. All these platforms get the lion’s share of their consumer bases from tier II and tier III areas of the nation.

The government’s record additionally contains names like UCBrowser and UCNews, each of that are owned by the AliBaba Group. Tencent owned WeChat has additionally been banned, and two of smartphone maker Xiaomi’s apps — Mi Video Call and MI Community — are additionally on the record. While the government’s record does say Mi Video Call, Xiaomi doesn’t even have an app by that identify right here, so it’s seemingly that the Mi Video app, which is a video aggregation platform, has been banned.

The Ministry of Electronics and Information Technology (MeitY) cited safety considerations in banning these apps.

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