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Manohar Charan, chief financial officer and co-founder, ShareChat, will be taking over the additional charge of working with revenue function focusing on monetisation in the interim, a company spokesperson shared.
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The company is now cash flow positive, has a solid leadership team in place, and doesn’t foresee any mass layoffs, says CEO Ankush Sachdeva.
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A Supreme Court ruling on CSAM reporting has put US-based social media platforms in a legal dilemma, forcing discussions on compliance challenges with Indian authorities.
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In the past two years, ShareChat has cumulatively laid off upwards of 850 employees across at least four rounds
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ShareChat has aggressively cut costs through a range of measures over the past two years. It said the social media app became fully profitable as of October 2024, while the short video app Moj is expected to achieve full profitability by the end of FY25.
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On August 13, the National Commission for Protection of Child Rights (NCPCR), during a meeting, "warned" social media platforms and urged them to implement KYC-based systems for verifying children's age
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The fundraise is an extension of its convertible debt round in which it has already raised $49 million from Tencent and existing investors such as Lightspeed
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In response to Indian government's call for stringent IT Rules compliance, and combatting deepfakes, social media platform ShareChat has updated its content policy
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ShareChat sees valuation cut by almost half amid funding winter, similar drops in valuations of global social media peers like Snap, X (formerly Twitter)
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The move comes after the company laid off around 600 employees in a similar cost-cutting move earlier this year, as co-founders Bhanu Pratap Singh and Farid Ahsan stepped down from their executive roles
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Sharechat CEO Ankush Sachdeva was the only key managerial personnel whose remuneration remained unchanged from the previous financial year
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Sameer Nigam, the CEO of another IAMAI member company PhonePe has hit back at those opposing IAMAI's views on the matter, terming them as opportunistic.
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ShareChat has been aggressively looking to cut costs since December last year while focusing to monetise its offerings.
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The company’s top and middle management are hollowing out, revenue has not kept pace with cash burn and Sharechat’s top-tier valuation, and questions are being asked about its business model
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Sharechat co-founders Farid Ahsan and Bhanu Pratap Singh have stepped down from their active roles as COO and CTO, respectively
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Our specially curated package of the most interesting articles to help you stay at the top of your game.
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A week after laying off almost 600 employees, Sharechat CEO says in an internal note that co-founders Bhanu Pratap Singh and Farid Ahsan have stepped down from active roles. They will remain on the company's Board
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The company, however, said that it has laid off close to 500 employees or about 20 percent of its staff.
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Though an increase of nearly 331 percent YoY in revenue, the company has spent about Rs 3,407.56 crore to earn Rs 346.93 crore in revenue from operations in FY22
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Prior to joining ShareChat, Varghese served as the global president of Wavemaker, a global media network owned by the WPP group.
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Chingari co-founder and COO Deepak Salvi said the platform plans to hire 400-500 people worldwide.
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Fantasy gaming platform Jeet11 was launched in 2020, to compete with Dream11 and Mobile Premier League (MPL).
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In a candid interview, Anand Lunia of India Quotient said that the theme for this year is SaaS, as venture capital is moving to safer sectors.
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The company was accused of closely facilitating misuse of the app by the BJP.
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For the criteria deployed to compile this year's list, LinkedIn looked at platform data from July 2021 to June 2022 across four pillars. Read more to find out
