Sunday, December 22

Tag: Sharechat

ShareChat raises $502 Mn from Snapchat, Twitter & others
8Apr By AdityaNo Comments
FUNDING

ShareChat raises $502 Mn from Snapchat, Twitter & others

Calif., SF, 04/08/2021: Short Video app ShareChat has raised USD 502 million in funding led by Lightspeed Venture Partners and Tiger Global, valuing the social media platform at over USD 2.1 billion. Snap Inc (which owns Snapchat) and existing investors Twitter and India Quotient, among others, also participated in the funding round in Mohalla Tech, the parent company of ShareChat and short video app, Moj. Founded in 2015, Mohalla Tech has raised over USD 766 million across six fundraising rounds. "We are at an exciting inflection point in our journey, where we are going after a massive opportunity with the right team in place and the backing of long-term investors who have a deep conviction in our mission. With ShareChat and Moj, we are well-positioned to build the largest AI-pow...
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ShareChat acquires Memer, looking for more buyouts
27Apr By Press Trust of IndiaNo Comments
ACQUISITION

ShareChat acquires Memer, looking for more buyouts

Indian social media platform ShareChat has acquired Kae Capital-backed meme-sharing app Memer and is looking for more buyouts, the company said on Monday. The deal size was however not disclosed by the company. ShareChat claims to have around 6 crore monthly active users and aims to cross the 12-crore mark by the end of 2020. "We are on an active lookout for startups that complement our product capabilities and share the vision of serving diverse content and social needs of Indian masses. Memer happens to be the first step towards this approach,"Manohar Charan, vice president for corporate development and strategic finance, ShareChat said in a statement. The integration of Memer into ShareChat will help it bring more variations to content, a better user experience that may lead...
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India’s Popular Social Media Platform Will Double The Hiring
24Sep By AnkitaNo Comments
News

India’s Popular Social Media Platform Will Double The Hiring

After raising USD 100 million, India's regional language social media platform ShareChat will double its employee numbers from current 75 to 150 people as it looks to further strengthen its technology platform and reach 100 million monthly active users. The Bengaluru-based company has recently raised USD 100 million in series C funding led by Shunwei Capital and others like Yuri Milner, Lightspeed US, handset maker Xiaomi and Morningside Venture Capital. "We are focused towards scaling up business in India, the financing will be used to scale up the business by creating and maintaining infrastructure. One of our main focus areas will also be to hire talent. We have about 75 people right now and we expect to double that to about 150 people in the next one year," ShareChat CEO Ankush Sac...
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Top 5 Funding of The Week (17th Sept – 22nd Sept)
22Sep By Gauri SinghNo Comments
FUNDING

Top 5 Funding of The Week (17th Sept – 22nd Sept)

The most popular methods of fundraising these days for companies is either through investors or through the launch of IPO. Initially, the companies generally go for raising funds from the investors. This has become a vital part of a business and thus, here we have the top five funding activities that took place this week. This particular week was quite active in terms of fundraising activities. The company that raised the highest amount of funds was UiPath which is a Robotic Process Automation (RPA) software company that raised $225 million funds. Let's have a look on these funding rounds.     Setoo   A UK-based startup Setoo that turns insurance into a powerful business accelerator, transforming the online customer experience and generating new revenue str...
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ShareChat’s Latest Funding Round Brings Seven-fold Rise in its Valuation
20Sep By Gauri SinghNo Comments
FUNDING

ShareChat’s Latest Funding Round Brings Seven-fold Rise in its Valuation

The social platform for regional language known as ShareChat has secured funds amounting to Rs 720 crore ($99 million) in a funding round. The particular round was led by existing backer Shunwei Capital. The other investors that participated in the round included Morningside Ventures of China and Jesmond Holdings, an affiliate of Russian billionaire Yuri Milner’s DST Global. Following this funding round, the valuation of the company will get a boost and will reach to Rs 3,332 crore ($460 million) according to the documents filed with Registrar of Companies. With the funds raised, the company plans to foray deeper in markets like the Northeast, and also start working on monetizing its service next year through activities like advertising, influencer marketing, and in-app transactions....
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ShareChat, India’s First Vernacular Social Network, Raises $1.3 million Seed Funding
14Jul By RishabhNo Comments
FUNDING

ShareChat, India’s First Vernacular Social Network, Raises $1.3 million Seed Funding

Bengaluru-based ShareChat, a vernacular social network received funding of $1.35 million from SAIF Partners. ShareChat was also selected for the second batch of the Google's Launchpad accelerator in Mountain View, California, along with five other Indian startups. The funds will be used for ramping up its tech infrastructure to cater to its constantly growing user base and to reach out to more people across India with a variety of content formats. Founded in October 2015, by IITK Alumni Farid Ahsan, Bhanu Singh and Ankush Sachdeva, ShareChat has built a first-of-its-kind social networking platform for India's vernacular language users, available in four Indian languages Hindi, Marathi, Malayalam and Telugu. The app has hit 1.3 million downloads out of which around 500,000 are a...
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