Music Ally Focus #13: ShareChat, owner of Indian TikTok rival Moj, raises $502m with investors including Snap and Twitter – so what does it mean for the music business?

Music business news, analysed in brief by Music Ally's Stuart Dredge and Joe Sparrow. Indian social media firm ShareChat is behind one of the most successful new TikTok rivals in India: Moj. It now has more than 120 million monthly active users – making it one of the leaders in the scramble to replace TikTok, after that app was banned in India last summer. ShareChat has just raised a $502m funding round, with investors including Snap, Twitter and Tiger Global Management.  Joe 'n' Stu analyse the implications for the music business and the wider context of western tech firms scrambling to invest in these Indian companies. 👋 Sign up for Music Ally’s free weekly newsletter, The Knowledge – an at-a-glance overview of the whirling, weird maelstrom that is the modern music industry. NB: As promised in this episode, here's a frankly chaotic video of someone completing Super Mario 64 in 6m30s: https://youtu.be/vCc8qaW0dX8 Instagram: https://www.instagram.com/musicallybiz Twitter: https://twitter.com/musically Facebook: https://www.facebook.com/musicallyfb