Google, the Times Group, and other investors have contributed $255 million (almost Rs 2,000 crore) to Mohalla Tech, the parent firm of ShareChat and the maker of the micro-video platform Moj. The social media platform raised an additional $266 million as part of the same funding round in December, bringing the total raised to $520 million. Following the funding, the company is now valued at $5 billion.
After becoming a unicorn (a business valued at $1 billion or more) the previous year, share chat raised $913 million in 2021. The business has more than 400 monthly active users across all of its platforms. Ankush Sachdeva, Bhanu Pratap Singh, and Farid Ahsan launched the social media platform Share chat in 2015. ShareChat App, Moj, and Takatak are some of its brands. Both Takatak and Moj are The Times Group and Google have been added to our cap table, and we are happy to announce the completion of our financing round, said Sachdeva, the company’s CEO. Investor confidence in Share Chat’s efforts and potential for further expansion is reassuring despite the difficulties. Leveraging size and creating reliable revenue sources will be the main priorities for the upcoming year’s tools for making and sharing quick videos. A social networking site in the Indian language is called ShareChat.
ShareChat being the most convenient messaging app, also enables you to make new friends, share videos, jokes, GIFs, audio songs, shayris, motivational quotes, funny quotes, bhajans, devotional songs and funny images all in one platform.
Without any provision for users to create their own content, ShareChat initially operated solely as a platform for content sharing. ShareChat made it possible for users to share their original posters and creative content in April 2016 by enabling user-generated content production on its site. Around the same time, open tagging was made available to users, allowing anyone to come up with their own hashtags based on the content. [7]
Ankush Sachdeva, co-founder and chief executive officer of ShareChat, Farid Ahsan, Bhanu Pratap Singh, co-founder and chief technical officer, and Debdoot Mukherjee are some of the most important figures in the organisation (Vice President – Data Science).
The Times Group and Google have been added to our cap table, and we are happy to announce the completion of our financing round, said Sachdeva, the company’s CEO. Investor confidence in Share Chat’s efforts and potential for further expansion is reassuring despite the difficulties. Leveraging size and creating reliable revenue sources will be the main priorities for the upcoming year.
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