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Just raised $40M Series B - high purchase intent window

ShareChat raised an additional $16 million in debt financing led by EDBI to enhance its advertising technology and expand its consumer transactions business.

Aug 03, 2024•about 1 year ago

Amount Raised

$16 Million

Delhi

Investors

Edbi

Description

ShareChat has secured an extra $16 million in debt financing, raising the total to $65 million. This funding occurs alongside a 5% workforce reduction as part of a performance improvement plan aimed at achieving profitability.

Company Information

Company

ShareChat

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.

Company News

(10 articles)

Thu, 15 Aug 2019 07:00:00 GMT

Twitter leads $100M round in top Indian regional social media platform ShareChat - TechCrunch

Thu, 10 Feb 2022 08:00:00 GMT

India's ShareChat buys rival MX's short-video app in $700 mln deal, sources say - Reuters

Wed, 07 Apr 2021 07:00:00 GMT

ShareChat valued at $2bn after India’s TikTok ban - Financial Times

Thu, 27 Oct 2022 23:36:22 GMT

Indian politicians are now flocking to an unlikely “no English” social network - qz.com

Sun, 14 Apr 2024 07:00:00 GMT

ShareChat’s valuation drops below $2B after new funding round - TechCrunch

Mon, 04 Sep 2023 07:00:00 GMT

Sharechat positions itself as a go-to destination for trending content in its new campaign - afaqs!

Thu, 25 Jan 2024 08:00:00 GMT

How ShareChat’s Short Video App Moj Lost Its Mojo - Inc42

Mon, 13 Nov 2023 08:00:00 GMT

ShareChat founders secure $3 million in funding for industrial robotics startup - The Economic Times

Fri, 19 Jan 2018 08:00:00 GMT

Investor's take: the making of the ShareChat story and the way forward - YourStory.com

Thu, 10 Feb 2022 08:00:00 GMT

MX TakaTak to merge with ShareChat's Moj short video platform - Business Standard

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