ShareChat News

In FY24, the company’s adjusted EBITDA loss was Rs 793 crore. Earlier, it was Rs 2,400 crore in FY23, according to its financials.

In April this year, ShareChat raised USD 49 million via convertible debentures in the funding round led by existing investors Lightspeed, Temasek, Alkeon Capital, Moore Strategic Ventures, and HarbourVest, amongst others.

In India, companies like Ola (which fired 200 employees), voice automated startup Skit.ai, dominated the headlines in January.In December last year, over 17,000 tech employees were shown the door.

India's ShareChat, a short video-sharing platform lets go of around 20% of its employees. Indian startups raised $24 billion last year, a third lesser than in 2021, according to Venture Intelligence. ShareChat confirmed employees would get two weeks' pay for every year served.

ShareChat was founded in 2015 by Ankush Sachdeva, Bhanu Pratap Singh and Farid Ahsan. It was last valued at $5 billion and has social media brands such as ShareChat App and Moj under its portfolio. In June this year, ShareChat closed a $520 million multi-tranche funding round, taking its valuation to $5 billion.

Mohalla Tech founded in 2015. Six fundraising rounds so far. Moj was launched in July last year.

ShareChat is a Bengaluru-based regional language social platform. ShareChat has a user base of over 140 million monthly active users in the country. The app is available in 15 languages, including Hindi, Malayalam, Gujarati, Marathi, Punjabi, Telugu, Tamil, Bengali, Odia, Kannada, Assamese, Haryanvi, Rajasthani, Bhojpuri and Urdu.

Once you tap the play icon on a ShareChat video, WhatsApp will begin to reproduce the video in the picture-in-picture mode. The Bengaluru-based regional language social platform ShareChat has a user base of over 60 million monthly active users. It is available in 15 languages, including Hindi, Malayalam, Gujarati, Marathi, Punjabi, Telugu, Tamil, Bengali, Odia, Kannada, Assamese, Haryanvi, Rajasthani, Bhojpuri and Urdu.

Memer was founded in 2018 by three Indian Institute of Technology (IIT) alumni - Amit Singh, Chetan Dalal and Chandramauli Singh - and was funded by Kae Capital.

Founded by three IIT-Kanpur graduates, the Bengaluru-based start-up is today valued at over $600 million. ShareChat offers its services in the following languages -- Hindi, Malayalam, Gujarati, Marathi, Punjabi, Telugu, Tamil, Bengali, Odia, Kannada, Assamese, Haryanvi, Rajasthani and Bhojpuri.