Snap Partners With ShareChat's Moj App To Tap Indian AR Market

Snap Inc (NYSE: SNAP) forged an eight-month partnership with India’s ShareChat’s Moj app to integrate its camera kit into the Indian app, TechCrunch reports.
The partnership will enable Snap to penetrate the Indian market with its Augmented Reality technology, according to Snap’s SVP Ben Schwerin.
ShareChat was in talks with Alphabet Inc’s (NASDAQ: GOOG) (NASDAQ: GOOGL) Google, Snap, Twitter Inc (NYSE: TWTR), and other investors for fundraising, according to a TechCrunch report last month.
Snap had 80 million monthly active users in India in December, while ShareChat had over 160 million monthly active users in India.
Moj app launched after the last year TikTok ban in June had 80 million users in September.
Price action: SNAP shares are trading 0.80% higher at $63.3 on the last check Wednesday.