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    Sharechat

    ShareChat holding company, Mohalla Tech Pvt Ltd, was incorporated in January 2015 by three IIT Kanpur graduates Ankush Sachdeva, Bhanu Pratap Singh and Farid Ahsan. The company is headquartered in Bengaluru, Karnataka, and presently employs over 400 people. It has over 250 million monthly active users and is available in 15 languages. The application offers features that include private messaging, tagging and a personal messaging feature, enabling users to share videos, jokes, songs and other language based social content with other unknown users. ShareChat also launched the similar Moj app and grew substantially. On April 17 2019, ShareChat took down around half a million pieces of content and removed 54,000 accounts for spreading fake news, hate speech, spam and conducting coordinated misinformation campaigns. In May 2020, ShareChat laid off 101 employees or a quarter of its employees. It rehired over 50 percent of the laid-off workforce with the success of its newly launched short video platform, Moj. It is also expected to hire 150-200 more people by March 2021. In September 2020, ShareChat raised $40 million from investors Dr. Pawan Munjal of Hero MotoCorp, Ajay Shridhar Shriram of DCM Shriram, Twitter, SAIF Partners, Lightspeed Ventures and India Quotient. By April 2021 ShareChat had raised $500 million from investors and was valued at over $2 billion. In December 2021, Moj and ShareChat raised $266 million at a valuation of $3.7 billion, in the round led by Alkeon Capital in its Series G round. The investors who participated in the round include Temasek, Moore Strategic Ventures (MSV), Harbourvest and India Quotient. More

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    • Moj launches Rs 20-crore micro drama accelerator to back India’s next storytellers

      The programme is designed to scout, fund and groom upcoming storytellers creating episodic micro dramas -- bite-sized series built for mobile-first audiences

    • ShareChat trims FY25 EBITDA loss by 72%, says core biz cashflow positive

      The social media platform has tightened costs, diversified beyond ads and is now leaning on subscriptions and micro-dramas to drive growth in FY26

    • ShareChat’s chief business officer Gaurav Jain quits

      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.

    • Sharechat swaps cash burn for sustainable growth, eyeing IPO in 2 yrs: CEO Ankush Sachdeva

      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.

    • US Tech giants caught in legal tangle over CSAM reporting, discuss compliance at I4C meeting

      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.

    • ShareChat to lay off 5% of its workforce; fourth round of job cuts in 2 years

      In the past two years, ShareChat has cumulatively laid off upwards of 850 employees across at least four rounds

    • ShareChat's adjusted EBITDA loss shrinks 67% in FY24, revenue grows 33%

      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.

    • DPDP Rules: NCPCR to recommend MeitY to bring in KYC-based age verification for children

      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

    • Sharechat closes $16 million fundraise while firing up to 5% of workforce

      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

    • Deepfakes: ShareChat aligns content policy with IT Rules, highlights legal ramifications for violations

      In response to Indian government's call for stringent IT Rules compliance, and combatting deepfakes, social media platform ShareChat has updated its content policy

    • ShareChat to raise $55-65 million via convertible notes at $2.7 billion valuation

      ShareChat sees valuation cut by almost half amid funding winter, similar drops in valuations of global social media peers like Snap, X (formerly Twitter)

    • Social media unicorn ShareChat fires 200 employees in another round of layoffs

      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

    • Here’s how much top Sharechat execs made in FY23 when the unicorn logged losses of Rs 5,114 crore

      Sharechat CEO Ankush Sachdeva was the only key managerial personnel whose remuneration remained unchanged from the previous financial year

    • ShareChat and Paytm oppose IAMAI, back separate digital competition law in India

    • ShareChat scales down live commerce biz, a month after laying off nearly 600 staff

    • Inside Sharechat’s crisis: absent founders, flurry of management exits, spiralling losses

    • After two co-founders quit, Sharechat tells staff in townhall that no plans to hire CTO, COO

    • Moneycontrol Selects: Top stories this evening

    • Google and Twitter-backed Sharechat sees shake-up as two founders step down

    • ShareChat parent fires 600 employees, six months after raising $255 million

    • ShareChat parent's losses doubled to Rs 2,988 crore in FY22

    • ShareChat chief commercial officer Ajit Varghese resigns

    • Short video app Chingari looks to expand into new markets in 2023, ramp up hiring

    • Temasek-backed Mohalla Tech lays off 115 employees, shuts down fantasy gaming vertical Jeet11

    • Indian edtech needs a complete reset, with better entrepreneurs who are mission-driven: India Quotient’s Anand Lunia

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