Download TechShotsApp

App Store

Google Play

Tag: sharechat (page 1 of 2)

Sharechat’s parent Mohalla tech is new $1 bn-plus startup

India’s Mohalla Tech, known for its social media platform ShareChat and the short-video app Moj, has raised $502 mn from investors led by Lightspeed Ventures and Tiger Global at a valuation of over $2.1 bn. Combined users of the 2015 founded start-up are 280 mn. Snap and Twitter also participated in the latest round. Sharechat, Moj, and other similar platforms have benefitted from the Indian government’s decision to ban several Chinese apps.

Click here to read the full story


Twitter had talked to acquire ShareChat, Moj

Twitter had talked to acquire ShareChat in order to expand India presence. The American firm is an investor in ShareChat, and offered $1.1 bn in and an additional investment of $900mn for the buyout. Twitter had deliberated to take Moj, a short-form video app with 80mn users, owned by ShareChat, to present it as a global rival to TikTok. ShareChat has raised $260 mn from Lightspeed Partners India, Elevation Capital, India Quotient etc.

Click here to read the full story

ShareChat appoints new Product Exec at its new Silicon Valley Centre

Indian social media platform ShareChat announced ShareChat Labs, a Centre of Excellence (CoE) in California’s Palo Alto, its first establishment outside India. The new centre is dedicated to technology backbone for company. With new CoE, ShareChat can ripe new-age solutions powered by ML to enhance use experience through advanced camera capabilities, deeper visual understanding and stronger content recommendations.

Click here to read the full story

Google delays mandating Play billing policy to April 2022

Google is deferring the enforcement of its new Play Store billing policy in India (only) to April 22, earlier going live on Sept 21. This news comes at a time when Indian startups including Paytm, Razorpay, Dream11, ShareChat raised concerns over the 30% Play Store commission on payments. More than 50 Indian executives held a meeting with MeitY on Saturday. Google said it is setting up listening sessions with Indian startups to understand their concerns deeply.  

Click here to read the full story

ShareChat raises $40M in Pre-Series E round

ShareChat said it raised $40M in Pre-Series E round. The Bengaluru-based company said the new funding round had significant investment from Dr. Pawan Munjal, DCM Shriram Promoters Family Office, SAIF Partners, Twitter, Lightspeed Ventures and India Quotient. This investment will be used to drive growth of ShareChat’s short video platform – Moj. The company will use it in product development, enhancing ML capabilities and helping creator community.

Click here to read the full story

ShareChat announced 50% addition ESOPs as bonus for existing employees

ShareChat announced an additional $14M ESOP pool to reward its employees for their hard work and dedication towards the company. With this addition, its total ESOP pool stands at $35M. The company also announced additional 50% ESOPs as bonus for the existing employees, who were on the firm’s payroll on June 30, 2020. Also, ESOPs have been extended to every employee on payroll including administrative staff who were not holding any ESOPs earlier.

Click here to read the full story

ShareChat acquires video production company Hera Pheri Films

ShareChat has acquired video production company Hera Pheri Films (HPF) for an undisclosed amount. HPF Films currently produces content, including web series, digital ads, short films etc. The company’s 25-member team has now joined ShareChat and will look after its content ops, digital marketing and more. This is ShareChat’s second acquisition in two months. It currently values at $650M and is in talks with investors like Microsoft to raise funds.

Click here to read the full story

Google in preliminary talks to invest in ShareChat

Google is in early talks to invest in ShareChat which is looking to raise $150-200M; preparing to secure a top spot in the gaps left behind by the banned Chinese apps. ShareChat was an active competitor for ByteDance’s Helo before it was banned by the Indian govt. Apart from Google, Microsoft has also held investment talks with ShareChat. While Google did not respond to queries, ShareChat said that it cannot comment on any “market speculation”.

Click here to read the full story

Microsoft in early talks to invest $100M in ShareChat: Sources

Microsoft Corp is, reportedly, planning to invest about $100M in ShareChat. The Indian content sharing platform, if this deal is signed, will raise one-third of the investments it is looking to raise. However, the company is interested in raising funds from existing investors before closing a deal with new ones, as per the sources. Also, being in its early talk days, this deal may take months to be signed. Microsoft is also looking to acquire ByteDance’s TikTok.

Click here to read the full story