Ajit Varghese, the chief commercial officer of the social media app ShareChat, has resigned from the company. This comes less than a month after ShareChat's parent company Mohalla Tech shut down fantasy sports vertical Jeet11 and laid off approximately 115 employees.
Varghese joined the company in December 2020. He was tasked with expanding and strategising the platform’s revenue efforts along with content partnerships.
He oversaw the marketing functions of the platform and reported to ShareChat co-founder Farid Ahsan.
"We can confirm that Ajit Varghese has decided to step down from his role as CCO at ShareChat after a very successful run of 2.5 years. Ajit has been instrumental in helping us build our revenue function since his joining in 2020 and has successfully established ShareChat and Moj as credible advertising channels among marketers across industry verticals,” a ShareChat spokesperson said.
The spokesperson added, “He has also assembled and groomed a solid team that is well-placed to take us to the next level. We are grateful for all his efforts and accomplishments in the last two years, which were highly critical to our growth. We wish Ajit all the best in his future endeavors."
Prior to joining ShareChat, Varghese served as the global president of Wavemaker, a global media network owned by the WPP group. He has more than 25 years of experience leading large-scale business transformations and building diverse and successful businesses in the media, creative, digital, data, content, sports, and performance industries.
Mohalla Tech was last valued at $4.9 billion. Some of its prominent investors include Google’s parent Alphabet, Temasek Holdings, Twitter, Lightspeed Venture Partners, Elevation Capital, India Quotient and Morningside Venture Capital, to name a few.
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