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Google Backs India's Sharechat In $300 Million Funding Round At $5 Billion Valuation

May 30, 2022•over 3 years ago

Amount Raised

$300 Million

Delhi

Description

New Delhi: The parent company of India's ShareChat has raised nearly $300 million in fresh funding from Alphabet Inc's Google, media giant Times Group and Singapore's Temasek Holdings, valuing the social media firm at nearly $5 billion, two sources involved in the deal discussions told Reuters.

Company Information

Company

Share Chat

Location

Delhi, Delhi, India

About

Happy to share that we have concluded our ~$650mn Series F round raising additional capital from Temasek, Moore Str… https://t.co/lEvfvMSgG6— Ankush Sachdeva (@AnkushSach) 1627360908000The latest funding round was led by Temasek and Moore Strategic Ventures, with participation from a fund jointly set up by Mirae Asset and South Korean web portal Naver Corp, ShareChat said in its statement. "Investments raised this year including this additional capital infusion will help the company double down (on) its strategic priorities," ShareChat said. ShareChat has 180 million active users. ShareChat has no immediate IPO plans and the company for now will focus on expanding its current business and offerings, a source familiar with the strategy said.

Funding Insights

Based on industry data
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