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ShareChat
ShareChat is an Indian social networking service platform, owned by Bangalore-based Mohalla Tech. It was founded by Ankush Sachdeva, Bhanu Pratap Singh and Farid Ahsan, and incorporated on 8 January 2015. ShareChat app has over 350 million monthly active users across 15 Indian languages. The current valuation of the company is $5 billion.
ShareChat's holding company, Mohalla Tech Pvt Ltd, was incorporated in January 2015 by graduates from Indian Institutes of Technology Kanpur: Ankush Sachdeva, Bhanu Pratap Singh and Farid Ahsan. The company is headquartered in Bengaluru, Karnataka, and as of 2020, employed over 2500 people.
Initially, ShareChat primarily worked as a content sharing platform, without any scope of users generating their own content. In April 2016, however, ShareChat enabled user-generated content creation on its platform, allowing its users to share their own posters and creative content. At around the same time, it also introduced open tagging for users, which would allow anyone to create their own hashtags depending on the content.
In March 2019, Mohalla Tech acquired the short video platform Clip from Transversal Tech. In February 2020, it acquired the Bengaluru-based online fashion marketplace Elanic.
In March 2020, it acquired the meme platform Memer. In August 2020, it acquired a hyperlocal information platform, Circle Internet.
Mohalla Tech also bought the short video platform MX TakaTak from Times Internet Group for $700 million in one of the biggest acquisitions of 2022.
In January 2023, Farid Ahsan and Bhanu Pratap Singh stepped down from their respective roles as Chief Operating Officer and Chief Technology Officer. As of 2022, Manohar Singh Charan (CFO) and Amit Zunjarwad (CPO) led the management along with Ankush Sachdeva (CEO).
In September 2020, ShareChat raised $40 million from investors 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 May 2022, ShareChat raised $300 million from Google, Times Group and Temasek Holdings at a valuation of $5 billion.
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ShareChat
ShareChat is an Indian social networking service platform, owned by Bangalore-based Mohalla Tech. It was founded by Ankush Sachdeva, Bhanu Pratap Singh and Farid Ahsan, and incorporated on 8 January 2015. ShareChat app has over 350 million monthly active users across 15 Indian languages. The current valuation of the company is $5 billion.
ShareChat's holding company, Mohalla Tech Pvt Ltd, was incorporated in January 2015 by graduates from Indian Institutes of Technology Kanpur: Ankush Sachdeva, Bhanu Pratap Singh and Farid Ahsan. The company is headquartered in Bengaluru, Karnataka, and as of 2020, employed over 2500 people.
Initially, ShareChat primarily worked as a content sharing platform, without any scope of users generating their own content. In April 2016, however, ShareChat enabled user-generated content creation on its platform, allowing its users to share their own posters and creative content. At around the same time, it also introduced open tagging for users, which would allow anyone to create their own hashtags depending on the content.
In March 2019, Mohalla Tech acquired the short video platform Clip from Transversal Tech. In February 2020, it acquired the Bengaluru-based online fashion marketplace Elanic.
In March 2020, it acquired the meme platform Memer. In August 2020, it acquired a hyperlocal information platform, Circle Internet.
Mohalla Tech also bought the short video platform MX TakaTak from Times Internet Group for $700 million in one of the biggest acquisitions of 2022.
In January 2023, Farid Ahsan and Bhanu Pratap Singh stepped down from their respective roles as Chief Operating Officer and Chief Technology Officer. As of 2022, Manohar Singh Charan (CFO) and Amit Zunjarwad (CPO) led the management along with Ankush Sachdeva (CEO).
In September 2020, ShareChat raised $40 million from investors 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 May 2022, ShareChat raised $300 million from Google, Times Group and Temasek Holdings at a valuation of $5 billion.