ShareChat

ShareChat
Developer(s)Mohalla Tech
Initial releaseOctober 2015; 9 years ago (2015-10)
Stable release(s)
Android2024.6.9 / 9 February 2024; 10 months ago (2024-02-09)
iOS23.7.1 / 15 April 2023; 20 months ago (2023-04-15)
Operating system
Size
Available in15 languages
List of languages
Type
LicenceFreeware
Websitewww.sharechat.com

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.[1]

Foundation and history

ShareChat's holding company, Mohalla Tech Pvt Ltd, was incorporated in January 2015 by graduates from Indian Institutes of Technology Kanpur:[2] Ankush Sachdeva, Bhanu Pratap Singh and Farid Ahsan. The company is headquartered in Bengaluru, Karnataka, and as of 2020, employed over 2500 people.[3]

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.[4]

In January 2023, Farid Ahsan and Bhanu Pratap Singh stepped down from their respective roles as Chief Operating Officer and Chief Technology Officer.[5][6] As of 2022, Manohar Singh Charan (CFO) and Amit Zunjarwad (CPO) led the management along with Ankush Sachdeva (CEO).[7][8]

Acquisitions

In March 2019, Mohalla Tech acquired Transversal Tech-owned short video sharing platform, Clip.[9] In February 2020, it acquired Bengaluru-based online fashion marketplace Elanic.[10] In March 2020, it acquired a meme discovery and sharing platform, Memer.[11] In August 2020, it acquired a hyperlocal information platform, Circle Internet.[12] Sharechat parent company also bought MX TakaTak from Times Internet Group for $700 million in one of the biggest acquisitions of 2022.[13][14]

Funding

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.[15] By April 2021, ShareChat had raised $500 million from investors and was valued at over $2 billion.[16] In May 2022, ShareChat raised $300 million from Google, Times Group and Temasek Holdings at a valuation of $5 billion.[17]

Initiatives against misinformation

On 17 April 2019, ShareChat took down around half a million pieces of content and removed 54,000 accounts for spreading fake news, hate speech and spam, and for conducting coordinated misinformation campaigns.[18]

Issues

  • ShareChat accused Bytedance of copying its design: Helo, another social media platform formerly owned by TikTok's parent company, Bytedance, is one of ShareChat's competitors. In 2018, ShareChat accused Bytedance of copying its design and UI pixel to pixel in 2018. Following Delhi High Court's direction, Bytedance changed its design for Helo.[19]
  • Layoffs and rehiring: In May 2020, ShareChat laid off 101 employees.[20][21] They have since rehired over 50% of the laid-off workforce after the launch of the video platform Moj.[22] In December 2022, ShareChat laid off another 5% of its workforce.[23] In January 2023, ShareChat again laid off 400 employees which was around 20% of its workforce.[24] In December 2023, ShareChat further fired 200 employees, around 15% of its workforce, to cut costs and achieve profitability.[25]

Apps

ShareChat

ShareChat app is multilingual social media platform, with 180 million monthly active users. It offers its users multiple options to express themselves through audio chat rooms, photo and video posts, status updates, microblogging, blogging, and direct messaging in 15 Indic languages. This allows regional audiences to connect with like-minded users and communities.[26]

Features:

  • Audio chat rooms: ShareChat audio chatroom is voice-based hangout destination. This feature allows its users to discuss various topics in detail across 15 regional languages.[27]
  • Virtual gifting: ShareChat also offers Virtual Gifting where users can reward their favourite creator or host through digital tokens as a gesture of appreciation for their content. As of December 2022, this feature supported over 64,000 creators in monetising their content.[27][26]
  • SCTV: SCTV is a long-form video format that allows users to create elaborate videos ranging from 2 to 15 minutes.[27]

Moj

ShareChat's app Moj, launched on 29 June 2020, is a short-video platform that emulates the features of TikTok, which was among the apps banned by the Indian government in June 2020.

In a tweet, Ankush Sachdeva, co-founder and CEO of ShareChat, said the app was coded in 30 hours. It has received Google Play Best of 2020 Awards, as of 1 December 2020.[28]

Moj has over 160 million monthly active users.[29][30]

References

  1. ^ Sarkar, John (16 June 2022). "ShareChat closes $520 million round at $5 billion valuation". The Times of India. Archived from the original on 12 October 2022. Retrieved 12 October 2022.
  2. ^ "IIT-K alumni-made ShareChat app wields local languages to challenge Facebook". Hindustan Times. 7 June 2016. Archived from the original on 19 August 2019. Retrieved 19 August 2019.
  3. ^ "ShareChat hires back half of laid-off employees, expected to add another 150-200 in six months". The Economic Times. Archived from the original on 15 June 2021. Retrieved 1 September 2020.
  4. ^ Ani (7 May 2018). "ShareChat announces 'Private Messaging', 'Shake-N-Chat', 'Open Tagging' on its platform". The New Indian Express. Archived from the original on 18 April 2019. Retrieved 18 April 2019.
  5. ^ "ShareChat cofounders Farid Ahsan and Bhanu Pratap Singh to step down". The Economic Times. 25 January 2023. ISSN 0013-0389. Archived from the original on 13 June 2023. Retrieved 9 June 2023.
  6. ^ Soni, Yatti (25 January 2023). "ShareChat's two co-founders step down from active roles". The Hindu Business Line. Archived from the original on 13 June 2023. Retrieved 9 June 2023.
  7. ^ Singh, Rajiv (25 February 2022). "Meet The MSD Of Finance: Sharechat's Manohar Singh Charan". Forbes India. Archived from the original on 10 June 2023. Retrieved 10 June 2023.
  8. ^ "Amit Zunjarwad joins ShareChat as Chief Product Officer". ETHR World. 19 April 2022. Archived from the original on 10 June 2023. Retrieved 10 June 2023.
  9. ^ Khatri, Bhumika (1 March 2019). "Exclusive: Clip Gets Acquired By ShareChat In All Cash Deal To Help It Fight Off ByteDance in India". Inc42 Media. Archived from the original on 17 April 2019. Retrieved 18 April 2019.
  10. ^ Rawat, Aman (25 February 2020). "Acquisitions". INC42. Archived from the original on 24 May 2020. Retrieved 25 February 2019.
  11. ^ Laghate, Gaurav (27 April 2020). "ShareChat buys meme sharing app Memer". The Economic Times. Archived from the original on 28 April 2020. Retrieved 12 May 2020.
  12. ^ Banerjee, Prasid (24 August 2020). "ShareChat acquires hyperlocal information platform Circle Internet". Livemint. Archived from the original on 26 October 2020. Retrieved 28 August 2020.
  13. ^ "ShareChat buys MX TakaTak for USD 700 million". New Indian Express. 11 February 2022. Archived from the original on 13 March 2022. Retrieved 13 March 2022.
  14. ^ Sil, Debarghya (7 December 2022). "2022 In Review: Startup M&As Surge Amidst Funding Crunch & Downturn". Inc42 Media. Archived from the original on 5 January 2023. Retrieved 5 January 2023.
  15. ^ "Twitter-backed Indian social network ShareChat raises $40 million". TechCrunch. 24 September 2020. Retrieved 25 September 2020.
  16. ^ Murgia, Madhumita (7 April 2021). "ShareChat valued at $2bn after India's TikTok ban". Financial Times. Archived from the original on 3 June 2021. Retrieved 3 June 2021.
  17. ^ Vengattil, Munsif (30 May 2022). "Google backs India's ShareChat in $300 mln funding round at $5 bln valuation". Reuters. Archived from the original on 30 May 2022. Retrieved 30 May 2022.
  18. ^ Mandavia, Megha (17 April 2019). "ShareChat takes down half a million pieces of content, 54K accounts removed". The Economic Times. Mumbai. Archived from the original on 20 August 2019. Retrieved 20 August 2019.
  19. ^ Christopher, Nilesh (5 November 2018). "ByteDance: Taken to court by ShareChat, ByteDance says Helo to new design". The Economic Times. Archived from the original on 13 June 2023. Retrieved 24 November 2022.
  20. ^ Grados, O. B. (April 1975). "[The laboratory in programs for enteric infection control]". Boletin de la Oficina Sanitaria Panamericana. Pan American Sanitary Bureau. 78 (4): 318–322. ISSN 0030-0632. PMID 123456. Archived from the original on 5 April 2019. Retrieved 9 July 2020.
  21. ^ Mandavia, Megha (21 May 2020). "ShareChat lays off 101 employees as advertising market tanks". The Economic Times. Archived from the original on 21 November 2022. Retrieved 24 November 2022.
  22. ^ "ShareChat hires back half of laid-off employees, expected to add another 150-200 in six months". The Economic Times. Archived from the original on 13 June 2023. Retrieved 24 November 2022.
  23. ^ "ShareChat lays off 5% of employees, shuts fantasy gaming vertical Jeet11". The Economic Times. 2 December 2022. Archived from the original on 19 December 2022. Retrieved 19 December 2022.
  24. ^ "Google-backed ShareChat confirms layoffs, says around 400 employees will lose jobs". The Indian Express. 16 January 2023. Retrieved 20 December 2023.
  25. ^ "Social media unicorn ShareChat fires 200 employees in another round of layoffs". Moneycontrol. 20 December 2023. Retrieved 20 December 2023.
  26. ^ a b P, Suraksha (7 October 2022). "ShareChat's virtual gifting feature generates $50 million annually". The Economic Times. Archived from the original on 22 December 2022. Retrieved 22 December 2022.
  27. ^ a b c "4 interesting ShareChat features that content creators should try out". TimesNow. 18 August 2022. Archived from the original on 16 November 2022. Retrieved 16 November 2022.
  28. ^ "Google Play Best of 2020 Awards Revealed". 1 December 2020. Archived from the original on 27 January 2021. Retrieved 26 January 2021.
  29. ^ "India's ShareChat valued at $2.88 billion in $145 million fundraise". TechCrunch. 27 July 2021. Retrieved 17 January 2022.
  30. ^ Upadhyay, Harsh (27 July 2021). "ShareChat raises $145 Mn at a valuation of $2.88 Bn". Entrackr. Archived from the original on 29 June 2022. Retrieved 17 January 2022.

Read other articles:

Aeródromo de Robledillo de Mohernando

Aeródromo Teniente General Vives Camino IATA: OACI: LERM FAA: LocalizaciónUbicación Robledillo de Mohernando (Guadalajara, España), EspañaElevación 944Detalles del aeropuertoTipo AeródromoPistas DirecciónLargoSuperficie01/19900x18AsfaltoMapa Aeródromo de Robledillo de Mohernando LocalizaciónSitio web http://www.aeroclubdeguadalajara.es/[editar datos en Wikidata] El aeródromo Teniente General Vives Camino (OACI: LERM) es una instalación aeronáutica privada situada en el ...

 

 

Nakhtubasterau

Nakhtubasterau in hieroglyphs [1]Nḫt-bꜣstt-r.w Great Royal Wife of Pharaoh Amasis II Nakhtubasterau (Nakhtbastetiru) was the Great Royal Wife of Amasis II. She dates to the Twenty-sixth Dynasty of Egypt.[2] Her name honors Bastet. Biography Nakhtubasterau was one of the wives known for Pharaoh Amasis II.[3] She is known from a stela from the Serapeum of Saqqara. She held the titles king's wife, his beloved, great one of the hetes sceptre and great of praises.[1...

 

 

Filipe de Saxe-Coburgo-Koháry

Filipe Príncipe de Saxe-Coburgo-Gota e KoháryDuque de Saxe Filipe de Saxe-Coburgo-Koháry Chefe da Casa de Saxe-Coburgo-Koháry Período 26 de julho de 1881a 3 de julho de 1921 Antecesor Augusto Sucessor Pedro Augusto ㅤ Nascimento 28 de março de 1844   Palácio das Tulherias, Paris, França Morte 3 de julho de 1921 (77 anos)   Palácio Coburgo, Coburgo, Alemanha Sepultado em St. Augustinkirche, Coburgo, Alemanha Nome completo   Fernando Filipe Maria Augusto Rafae...

وادي الدويح (قفل شمر)

قرية وادي الدويح  - قرية -  تقسيم إداري البلد  اليمن المحافظة محافظة حجة المديرية مديرية قفل شمر العزلة عزلة الدانعي السكان التعداد السكاني 2004 السكان 180   • الذكور 87   • الإناث 93   • عدد الأسر 27   • عدد المساكن 28 معلومات أخرى التوقيت توقيت اليمن (+3 غريني...

 

 

Пуків

село Пуків Панорама селаПанорама села Країна  Україна Область Івано-Франківська область Район Івано-Франківський район Громада Рогатинська міська громада Облікова картка картка  Основні дані Засноване 1419 Населення 1052 Площа 24,214 км² Густота населення 43,45 осіб...

 

 

Wangsa Wang

Halaman ini berisi artikel tentang keluarga penguasa dari dinasti Goryeo. Untuk topik lainnya, lihat Wangsa Wang (disambiguasi). Negara GoryeoGelar Raja Goryeo Pangeran dari Shen Didirikan25 Juli 918, 1105 tahun yang laluPendiriTaejo dari GoryeoPenguasa terakhirGongyang dari GoryeoDilengserkan1392 Wangsa Wang (Hangul: 왕; Hanja: 王) adalah wangsa penguasa kerajaan dinasti Goryeo (918-1392) dari Korea. Wangsa ini didirikan oleh Wang Geon, kanselir dari Taebong yang meng...

Sakura Akaho

Japanese basketball player Sakura AkahoNo. 39 – Denso IrisPositionSmall forwardLeagueJBLPersonal informationBorn (1996-04-30) April 30, 1996 (age 27)Nanao, Ishikawa, JapanNationalityJapaneseListed height5 ft 11 in (1.80 m) Medals Women's basketball Representing  Japan FIBA Asia U16 Championship 2011 Jinan Japan U17 FIBA Asia Under-18 Championship for Women 2014 Amman Japan U19 FIBA Asia Cup 2017 India Sakura Akaho (赤穂 さくら, Akaho Sakura, born April ...

 

 

Kushi Station

Railway station in Iyo, Ehime Prefecture, Japan S10 Kushi Station串駅Kushi Station in 2015General informationLocationFutamichokushi, Iyo City, Ehime Prefecture 799-3312JapanCoordinates33°38′50″N 132°33′46″E / 33.6472°N 132.5628°E / 33.6472; 132.5628Operated by JR ShikokuLine(s)     Yosan LineDistance225.0 km (139.8 mi) from TakamatsuPlatforms1 side platformTracks1ConstructionStructure typeAt grade (sidehill cut)Bicycle f...

 

 

Führer

German word meaning leader or guide This article is about the German title. For other uses, see Führer (disambiguation). Führer (/ˈfjʊərər/ FURE-ər; German: [ˈfyːʁɐ] ⓘ, spelled Fuehrer when the umlaut is unavailable) is a German word meaning leader or guide. As a political title, it is strongly associated with Adolf Hitler, the dictator of Nazi Germany from 1933 to 1945. Hitler officially styled himself der Führer und Reichskanzler (the Leader and Chancellor of the Reich...

Maria Horvath

Austrian chess player Maria HorvathHorvath at women's Schachbundesliga 2016/17Country AustriaBorn (1963-06-06) 6 June 1963 (age 60)TitleWoman FIDE Master (1985) Maria Horvath (born 6 June 1963) is an Austrian chess player who holds the title of Woman FIDE Master (WFM). She won the Austrian women's chess championship in 1990. Chess career Horvath started playing chess at the age of seven. Since 1982 she regularly participated in Austrian women's Chess Championships. In 1990 in Brauna...

 

 

Barguziński Rezerwat Biosfery

Znaczki wydane przez Pocztę ZSRR w 1966 r. z okazji 50. lecia rezerwatu Barguzińskiego Barguziński Rezerwat Biosfery Баргузинский заповедник – ścisły rezerwat przyrody (zapowiednik) nad jeziorem Bajkał w Buriacji. Położony wzdłuż wschodniego brzegu jeziora, w jego północnej części, na zachodnich stokach Grzbietu Barguzińskiego. Założony 17 maja 1916 r. decyzją gubernatora irkuckiego i zatwierdzony przez cara 29 grudnia tegoż roku (11 stycznia 1917 r....

 

 

Daftar Wakil Bupati Sanggau

Wakil Bupati SanggauPetahanaDrs. Yohanes Ontot, M.Si.sejak 17 Februari 2019Masa jabatan5 tahunDibentuk2003Pejabat pertamaIr. H. Setiman H. SudinSitus websanggau.go.id Berikut ini adalah daftar Wakil Bupati Sanggau dari masa ke masa. No Wakil Bupati Mulai Jabatan Akhir Jabatan Prd. Ket. Bupati 1 Ir. H.Setiman H. Sudin 2003 2008 1   Yansen Akun EffendyS.H., M.B.A., M.Sc., M.Si. Jabatan kosong 2008 2009 -   Drs.Moses Hermanus MunsinM.H.(Penjabat) 2 Paolus HadiS.IP., M.Si. 2009 201...

Cinema Is Everywhere

2011 American filmCinema is EverywhereDirected byTeal GreyhavensWritten byTeal GreyhavensProduced byJason GordonStarringJaved AkhtarShyam BenegalNouri BouzidFruit ChanMark CousinsStanley KwanSudhir Mishra Tilda SwintonCinematographyTeal GreyhavensMusic byBrandon K. VerrettProductioncompanySpiral PicturesDistributed byTriCoast WorldwideRelease date October 22, 2011 (2011-10-22) (Austin Film Festival) Running time86 minutesCountryUnited StatesLanguagesEnglishMandarin Chinese ...

 

 

Willard Brown

American baseball player (1915–1996) Baseball player Willard BrownOutfielderBorn: (1915-06-26)June 26, 1915Shreveport, Louisiana, U.S.Died: August 4, 1996(1996-08-04) (aged 81)Houston, Texas, U.S.Batted: RightThrew: RightProfessional debutNgL: 1936, for the Kansas City MonarchsMLB: July 19, 1947, for the St. Louis BrownsLast appearanceMLB: August 17, 1947, for the St. Louis BrownsNgL: 1951, for the Kansas City MonarchsMLB statisticsBatt...

 

 

Poso Pesisir Selatan, Poso

Poso Pesisir SelatanKecamatanPeta lokasi Kecamatan Poso Pesisir SelatanNegara IndonesiaProvinsiSulawesi TengahKabupatenPosoPemerintahan • CamatArlius Dewa[1]Populasi • Total9,953 jiwa jiwaKode Kemendagri72.02.19 Kode BPS7204051 Luas563,06 km2Desa/kelurahan9 Poso Pesisir Selatan (pengejaanⓘ), adalah sebuah kecamatan di Kabupaten Poso, Provinsi Sulawesi Tengah, Indonesia. Ibu kota kecamatan terletak di desa Tangkura. Pembagian administratif Kecamatan Poso ...

Goa Legislative Assembly

Unicameral legislature of the state of Goa in India Goa Legislative Assembly8th Goa AssemblyTypeTypeUnicameral Term limits5 yearsHistoryFoundedJanuary 9, 1964 (1964-01-09)LeadershipGovernor of GoaP. S. Sreedharan Pillai, BJP since 15 July 2021 Speaker of the HouseRamesh Tawadkar, BJP since 29 March 2022 Deputy Speaker of the HouseJoshua D'Souza, BJP since 22 July 2022 Leader of the House (Chief Minister)Pramod Sawant, BJP Deputy Leader of the HouseVishwajit Prat...

 

 

Thariqah Dusuqiyah Muhammadiah

Artikel ini sebatang kara, artinya tidak ada artikel lain yang memiliki pranala balik ke halaman ini.Bantulah menambah pranala ke artikel ini dari artikel yang berhubungan atau coba peralatan pencari pranala.Tag ini diberikan pada Februari 2023. Thariqah Dusuqiyah Muhammadiah TDMI Main LogoLogo Thariqah Dusuqiyah Muhammadiah Indonesia Pendiri: Syekh Ibrahim bin Abdul Aziz al-Qurasyi ad-Dusuqi (633-676 H./1255-1296 M.) Grand Mursyid: - Maulana Syekh Mukhtar bin Ali bin Muhammad bin Ahmad ad-Du...

 

 

Taman bermain

Artikel ini bukan mengenai Taman hiburan. Taman bermain modern Taman bermain atau taman permainan adalah sebuah tempat yang khusus dirancang agar anak-anak dapat bermain di sana. Meskipun tempat bermain biasanya ditujukan kepada anak-anak, beberapa mentargetkan kelompok usia lain. Contohnya, Preußenpark di Berlin dirancang untuk orang-orang berusia 70 tahun ke atas. Tempat bermain mengecualikan anak-anak di bawah usia tertentu. Tempat bermain modern biasanya memiliki alat-alat rekreasional s...

Gogol Center

An image of Gogol Center Corner view The Gogol Center, formerly Gogol Theatre, is a multi-use arts complex in Moscow that was home to Russia's leading avant-garde theater.[1] In June 2022 it was closed down by the Russian Government, along with an announcement that it would be renamed Nikolai Gogol Drama Theatre.[2] Starting life as a theatre company called Drama and Comedy Theatre in 1925, the theatre has undergone a succession of renamings, including Moscow Theatre of Transp...

 

 

Hanover Tavern

Historic commercial building in Virginia, United States This article contains content that is written like an advertisement. Please help improve it by removing promotional content and inappropriate external links, and by adding encyclopedic content written from a neutral point of view. (May 2020) (Learn how and when to remove this template message) United States historic placeHanover TavernU.S. Historic districtContributing property A view looking across Route 301 from the courthouse green to...

 

 

Strategi Solo vs Squad di Free Fire: Cara Menang Mudah!