iWorld
ShareChat appoints Nitin Jain as CTO
MUMBAI: A leading social media platform ShareChat has appointed Nitin Jain as its new chief technology officer. In his role, Nitin will oversee technological development and innovation for both ShareChat and Moj platforms.
Jain is a seasoned technology leader who has spearheaded transformative projects across advertising, e-commerce, fintech, and advanced data analytics, growing ideas from initial concepts into impactful platforms with global reach. He brings a wealth of leadership experience from renowned companies like Tokopedia, Gojek, and most recently, TikTok. Jain has built rapidly growing tech businesses from scratch by nurturing high-performing teams and strategically leveraging cutting-edge technologies, including artificial intelligence, big data, cloud computing, blockchain, and modern DevOps practices.”
ShareChat and Moj CEO & cofounder Ankush Sachdeva said, “Nitin is a global technology leader, with more than two decades of experience spanning multiple domains and geographies. As we embark on the next chapter of growth at ShareChat and Moj, Nitin’s proven track record in scaling technology-driven businesses, combined with his expertise in cutting-edge fields like artificial intelligence and big data, will be a game-changer for our platform. I am incredibly thrilled to have him as a part of the team and lead the tech org from the front at ShareChat.”
“I am extremely passionate about building customer-focused products that bring real value through innovative yet practical applications of technology. What excites me most about being at ShareChat is the chance to work with, learn from such a talented team and use my experience to deliver a highly personalised social experience to our growing community of users and creators”, said Jain.
Outside of work, Jain is interested in philosophy, modern physics, genetics, and a growing passion for scuba diving. He has a bachelor’s degree in computer science and engineering from the Indian Institute of Technology, Varanasi.
iWorld
Bill Ackman’s Pershing Square makes $64 billion bid to acquire Universal Music Group
Ackman pitches NYSE relisting plan as UMG board weighs unsolicited offer
The hedge fund has proposed a business combination that values UMG at €30.40 per share, representing a hefty 78 per cent premium to its current trading price. The offer includes €9.4 billion in cash alongside stock in a newly formed entity, with shareholders set to receive €5.05 per share in cash and 0.77 shares in the new company for each UMG share they hold.
Under the proposal, UMG would merge with Pershing Square SPARC Holdings Ltd and re-emerge as a Nevada-based entity listed on the New York Stock Exchange. The move is designed to boost investor visibility and potentially secure inclusion in major indices such as the S&P 500.
Pershing Square Capital Management ceo Bill Ackman argued that while UMG’s operational performance remains strong, its market valuation has lagged due to external factors. “UMG’s stock price has languished due to a combination of issues that are unrelated to the performance of its music business,” Ackman said, pointing to concerns ranging from shareholder overhang to delayed US listing plans.
Ackman also flagged what he sees as untapped potential in UMG’s balance sheet and a lack of clear capital allocation strategy. He added that the market has not fully recognised the value of UMG’s €2.7 billion stake in Spotify, alongside gaps in investor communication.
The proposed transaction would also result in the cancellation of around 17 per cent of UMG’s outstanding shares, while maintaining its investment-grade balance sheet. Pershing Square has said it will fully backstop the equity financing, with debt commitments secured at signing. The deal is targeted for completion by the end of the year.
UMG, however, has struck a measured tone. The company confirmed that its board has received the non-binding proposal and will review it with advisers. It reiterated confidence in its current strategy and leadership under Lucian Grainge, signalling no immediate shift in stance.
The proposal comes at a time when global music companies are navigating evolving investor expectations, streaming economics and capital allocation pressures. For Pershing Square, the bet is clear: sharpen the financial story, relist in the US, and let the music play louder in the markets.
Whether UMG’s board is ready to change the tune remains to be seen, but the spotlight on its valuation just got a lot brighter.
