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Sharechat

ShareChat raises Rs 134 crore from Singapore-based EDBI; lays off 5% staff

Home-grown social media firm Mohalla Tech, which owns ShareChat platform, on Sunday said it has raised Rs 134 crore, or USD 16 million, through debt bonds from Singapore-based investment firm EDBI. With this fresh fundraise the company has expanded its ongoing convertible debentures round to USD 65 million. "ShareChat expands its convertible debentures round to USD 65 million, as Singapore-based EDBI joins the round," the company said in a statement. 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. The company has also retrenched 5 per cent of its staff after mid-year performance review of the employees. When contacted, the company spokesperson said ShareChat launched its mid-year performance cycle and as a usual practice, some employees are impacted on the basis of performance. "This accounts for less than 5

ShareChat raises Rs 134 crore from Singapore-based EDBI; lays off 5% staff
Updated On : 04 Aug 2024 | 4:34 PM IST

ShareChat expands its convertible debentures round to $65 million

The additional funds will be invested in company's advertising tech stack

ShareChat expands its convertible debentures round to $65 million
Updated On : 03 Aug 2024 | 5:50 PM IST

ShareChat raises $49 mn via convertible debentures from existing investors

The new funds will be utilized to bolster the company's robust monetisation plans and propel it on its path to break-even and beyond, said Ankush Sachdeva, CEO and Cofounder, ShareChat and Moj

ShareChat raises $49 mn via convertible debentures from existing investors
Updated On : 15 Apr 2024 | 5:05 PM IST

ShareChat raises $49 mn via convertible debentures from existing investors

Homegrown social media company ShareChat on Monday announced it has raised USD 49 million (about Rs 407 crore) by way of convertible debentures from existing investors Lightspeed, Temasek and Alkeon Capital, among others. The capital raise will help the company invest further in its ad targeting technology as well as in continuing the growth of consumer transactions business on ShareChat Live and Moj Live, according to a release. "ShareChat (Mohalla Tech Pvt Ltd)...today announced the closure of its USD 49 million funding round via convertible debentures led by existing investors Lightspeed, Temasek, Alkeon Capital, Moore Strategic Ventures and HarbourVest, amongst others," the release said. ShareChat app is already operationally profitable, and short video app Moj is expected to achieve operational profitability over the next few months, it said. As the company marches towards profitability, it announced an organisation-wide ESOP bonus programme that will double the ESOP ownershi

ShareChat raises $49 mn via convertible debentures from existing investors
Updated On : 15 Apr 2024 | 3:03 PM IST

Dealing with deepfakes requires vigilance, investment: Yatharth Saraf

The director of machine learning at social media platforms ShareChat and Moj says consumers and companies will adapt to such misinformation

Dealing with deepfakes requires vigilance, investment: Yatharth Saraf
Updated On : 24 Dec 2023 | 8:15 PM IST

Social media unicorn ShareChat lays off 200 employees to reduce costs

This is the second such move this year for the Indian regional social network

Social media unicorn ShareChat lays off 200 employees to reduce costs
Updated On : 20 Dec 2023 | 11:09 PM IST

ShareChat's valuation cut to $1.5 bn, lays off 200 employees: Reports

Company sacked 20% of its workforce in January, impacting around 500 employees

ShareChat's valuation cut to $1.5 bn, lays off 200 employees: Reports
Updated On : 20 Dec 2023 | 4:46 PM IST

47% Indians to spend over Rs 10,000 in upcoming festive season: Report

Customer sentiment is significantly higher than last year when 19% of Indians said they would spend over Rs 10,000

47% Indians to spend over Rs 10,000 in upcoming festive season: Report
Updated On : 13 Oct 2023 | 2:05 PM IST

House panel calls social media cos for meeting on content, monopoly

This move coincides with news of the government's preparation of the Digital India Bill (DIB) which aims to supersede the Information Technology Act, 2000

House panel calls social media cos for meeting on content, monopoly
Updated On : 04 Oct 2023 | 10:47 PM IST

Two co-founders at Google and Twitter-backed Sharechat step down

This comes a week after Mohalla Tech Pvt Ltd, the parent company of homegrown video-sharing platforms ShareChat and Moj, laid off 20 per cent of its workforce, comprising around 500 employees

Two co-founders at Google and Twitter-backed Sharechat step down
Updated On : 25 Jan 2023 | 10:50 PM IST

Google-backed ShareChat, Dunzo hand out pink slips to employees

This comes amid the current funding crunch in the Indian start-up ecosystem

Google-backed ShareChat, Dunzo hand out pink slips to employees
Updated On : 16 Jan 2023 | 11:52 PM IST

ShareChat, Dunzo to join list of startups planning mass layoffs in India

Rebel Foods, which has brands like Behrouz Biryani and Oven Story, has also reportedly cut its headcount

ShareChat, Dunzo to join list of startups planning mass layoffs in India
Updated On : 16 Jan 2023 | 3:57 PM IST

Google-backed ShareChat lays off 20% workforce; 500 people to be impacted

Indian startups raised $24 billion last year, a third lesser than in 2021, according to Venture Intelligence

Google-backed ShareChat lays off  20% workforce; 500 people to be impacted
Updated On : 16 Jan 2023 | 1:18 PM IST

Gained in translation: Why spending on learning Indian language makes sense

As companies seek to impress people in all parts of the country, there is a demand for expertise in local dialogue

Gained in translation: Why spending on learning Indian language makes sense
Updated On : 06 Jan 2023 | 4:05 PM IST

2 in 3 Indians to have a short video app on their phones by 2025: Report

The short-form video market can provide the country with a monetisation opportunity worth $19 billion by 2030, according to a report by management consulting firm RedSeer

2 in 3 Indians to have a short video app on their phones by 2025: Report
Updated On : 02 Aug 2022 | 4:55 PM IST

ShareChat's valuation crosses $5 bn after closing $520 mn funding round

Social media company raises $255 mn from Google, Times Group and existing investors

ShareChat's valuation crosses $5 bn after closing $520 mn funding round
Updated On : 16 Jun 2022 | 10:57 PM IST

ShareChat raises $255 mn from Google, Times Group, others; valued at $5 bn

ShareChat (Mohalla Tech) in a statement said it has closed multi-tranche funding round through which it raised a total of USD 520 million and reached USD 5 billion in valuation.

ShareChat raises $255 mn from Google, Times Group, others; valued at $5 bn
Updated On : 16 Jun 2022 | 9:10 PM IST

Two years on, not one Indian app within reach of TikTok's popularity

A BS analysis shows no Indian app has been able to garner as many unique visitors as TikTok did before it was banned

Two years on, not one Indian app within reach of TikTok's popularity
Updated On : 01 Jun 2022 | 12:44 AM IST

Google backs India's ShareChat in $300 mn funding round at $5 bn valuation

ShareChat counts Twitter and Snap as investors and if the bid by Tesla CEO Elon Musk to buy Twitter goes through, Musk will have potentially a stake of between 6% and 8% in ShareChat

Google backs India's ShareChat in $300 mn funding round at $5 bn valuation
Updated On : 31 May 2022 | 12:22 AM IST

Mohalla Tech's valuation may cross $5 billion after raising $300 million

The parent company behind short-video platform Moj and regional social network ShareChat, is in the process of raising about $300 million in fresh funding from Alphabet Inc's Google and Singapore's Te

Mohalla Tech's valuation may cross $5 billion after raising $300 million
Updated On : 30 May 2022 | 10:32 PM IST