SHARECHAT- LATEST ADDITION TO UNICORNS OF INDIA

Social media has become an inevitable part of all our lives and is constantly evolving. With a wide market and a growing population, this space is unmatched with the number of users it has. India, with an expanse of vernaculars, it was indispensable to have a home-grown social media platform that allowed for content creation and sharing, as well as messaging. ShareChat is a startup held by Mohalla Tech. Pvt. Ltd, set up by founders Ankush Sachdeva, Bhanu Pratap Singh and Farid Ahsan in 2015. The most competitive feature of ShareChat is that it is available in 15 regional languages, which expands their user base and allows them to tap into the remotest areas, while also providing a platform for people who aren’t proficient in English to create and share content. 

The potential of this regional social media platform was identified by investors such Lightspeed Ventures & Tiger Global in the start-ups Series E round getting them an investment of $502 million, which has made ShareChat the latest unicorn in India at a valuation of $2.1 billion. The newest feature, Moj, is the ideal alternative to TikTok, a Chinese app which was banned by the Government amidst privacy concerns last year. This capital infusion is going to be directed towards the development of the short video app, Moj while also evolving and executing new technologies and strategies to capture a larger share in the market and user base. 

During the pandemic, ShareChat witnessed a tremendous growth of about 166%, establishing a good position in the AI-powered content ecosystem in India. While big players such as Instagram and Facebook continue to dominate the market, ShareChat has found its niche by targeting vernaculars across India, which was a space that was untapped by major companies. 

Explore ShareChat and uncover creative content, create, share and message in your own regional language!