Content sharing platform SHAREit on Tuesday announced that it has acquired South Indian movie app Fastfilmz and declared its founder Karam Malhotra as the new CEO of SHAREit India.
With its acquisition, SHAREit aims to expand its content and regional user base in India, making movies from over four South Indian languages available for users.
“We think adding Fastfilmz to our product will help us enhance the engagements to millions of users,” Jason Wang, Managing Director, SHAREit India, said in a statement.
SHAREit claimed that with this deal, users would have access to content within lesser data usage and buffering time.
“Indian users are spending nearly 60 per cent of their time on their phones watching content, thus, SHAREit’s focus and promise to provide users a new interactive form of engaging content is exciting,” Malhotra added.
SHAREit has over 1.5 billion users globally across 200 countries and is currently available in 39 languages.