Times Group, Google provide funding to ShareChat

Mohalla Tech, the parent company of ShareChat and the creator of the short video platform Moj, has raised $255 million (almost Rs 2,000 crore) in capital from Google, the Times Group, and other investors. As part of the same investment round, the social media site raised $266 million in December, bringing the total to $520 million. The company is now valued at $5 billion following the financing.
In 2021, Sharechat raised $913 million after becoming a unicorn (a company worth $1 billion or more) last year. Across all of its platforms, the company has over 400 monthly active users. Sharechat is a social media company founded in 2015 by Ankush Sachdeva, Bhanu Pratap Singh, and Farid Ahsan. Its brands include ShareChat App, Moj, and Takatak. Moj is a video sharing service, and Takatak is a short video creating software. ShareChat is an Indian language social networking service.
"We are thrilled to announce the closure of our investment round and the addition of Google and The Times Group to our cap table," said Sachdeva, who is also the CEO. Despite the challenges, investor faith in ShareChat's efforts and potential for additional growth is encouraging. The focus for the coming year will be on leveraging size and developing stable revenue sources.