• About
  • Contact
Saturday, April 17, 2021
Next Big Brand
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • Cryptocurrency
  • Retail
  • Tech
  • Case Study
  • Interview
No Result
View All Result
Next Big Brand
Home Internet

ShareChat Raised $502 Million at a Valuation of $2.1 Billion

Abdul Kadir Khan by Abdul Kadir Khan
April 8, 2021
in Internet, Media, News, Startup
2 min read
0
ShareChat Raised $502 Million at a Valuation of $2.1 Billion

ShareChat

Share on FacebookShare on Twitter

The current week is on a record-breaking spree. Four days, five unicorns. That is the status up to the morning of Thursday. ShareChat, a content sharing startup, is the new member of the unicorn club. Investors are pouring a lot of money into startups.

In a recent financial round conducted by ShareChat, Tiger Global, Snap Inc and some existing investors such as Twitter Inc have invested $502 million in the content-based social media platform. This detail was revealed by ShareChat. The latest funding round has helped ShareChat to reach a whopping valuation of more than $2 billion.

Funding Details of ShareChat

The Indian Startup ecosystem is going through a golden period. Investors are showing immense trust in the growing startups. It has resulted in five startups joining the unicorn club within four days.

In a recent development, ShareChat released a statement that it has raised $502 million from the existing and new investors. The funding round was led by American venture capital firm Lightspeed Venture Partners and American investment firm Tiger Global.

Tiger Global and Snap have joined the ShareChat investors list for the first time in the current funding round. They are the owner of Snapchat, a worldwide famous photo messaging app.

Future of Social Media Platforms and ShareChat plans

Investors are showing a special interest in Indian Social Media Platforms. It is due to a wide gap created by the banned Chinese apps. Chinese apps like Tiktok had a huge fan base in India. Due to its ban, plenty of short video platforms have risen in the Indian startup system. Moj and Chingari are some of those short video platforms that got exponential growth recently.

ShareChat said that the recent funding round has surged its market valuation to $2.1 billion. ShareChat also revealed that current funding will be used to advance the technology and the company will also utilize the funds to attract more users.

ShareChat CEO Ankush Sachdeva said:

“With this infusion of capital, we would continue to aggressively grow our user base.”

Currently, ShareChat has a huge user base of 160 million subscribers in India, whereas Moj has attracted 120 million users till now. ShareChat is the parent company of Moj. Smartphones growth and better Internet connectivity have helped these apps to reach every corner of India.

As per an insider person report, ShareChat is planning to raise more funds in the coming months. The source did not reveal its name. When contacted, ShareChat did not show any interest in talking about the funding plans for the coming months. ShareChat has raised a total of $766 million in more than six funding rounds.

ShareChat was badly affected by the covid pandemic. Last year, it fired more than 100 employees. A few months back, there was a discussion that Twitter is acquiring ShareChat. Now, the company has recovered well from the difficult period.

Previous Post

Groww Joins Unicorn Club with $83 Million Funding raise

Next Post

Twitter Had Discussions to Acquire Clubhouse

Abdul Kadir Khan

Abdul Kadir Khan

Abdul Kadir Khan is a Content Writer at Next Big Brand. Hails from UP. Postgraduate in Computer Science. Content Maniac and Trainer. Love to write about startups, Brands, and Trending Tech.

Related Posts

Pine Labs Acquires Fave in Deal Valued over $45 Million
Case Study

Pine Labs – Transforming the Digital Transaction Environment

April 17, 2021
Gupshup Raises $100 Million, Joins Unicorn Club
Case Study

Gupshup: Providing Secured Feature Rich Bot Platforms to its Clients

April 17, 2021
boAt Raises Rs 50 Crore from Qualcomm Ventures
Media

boAt Raises Rs 50 Crore from Qualcomm Ventures

April 16, 2021
60% of Indian CMOs to have budgets for influencer marketing in 2021:ClanConnect
Case Study

60% of Indian CMOs to have budgets for influencer marketing in 2021:ClanConnect

April 16, 2021
Sachin Bansal’s Chaitanya India Fin Credit Applies for Universal Bank License
Industries

Sachin Bansal’s Chaitanya India Fin Credit Applies for Universal Bank License

April 16, 2021
Vahdam India Recorded a 110% YoY Growth in FY21
Food

Vahdam India Recorded a 110% YoY Growth in FY21

April 15, 2021
Next Post
Twitter Had Discussions to Acquire Clubhouse

Twitter Had Discussions to Acquire Clubhouse

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

RECOMMENDED NEWS

Radhakishan Damani Donates- Next Big Brand

Radhakishan Damani Going Strong Despite Other Billionaires Fall

1 year ago
Moneka Khurana MMA India

Taking An Insightful Tour Of Mobile Marketing World With Moneka Khurana

1 year ago
xiaomi-nextbigbrand.in

Oppo, OnePlus, Huawei Rank Higher Than Xiaomi, Samsung in Customer Satisfaction Survey

2 years ago
Taj Hotels-next-big-brand

Taj Hotels plans To Go Asset Light With Sell & Lease Back Strategy

2 years ago

FOLLOW US

  • 33.7k Fans

BROWSE BY TOPICS

2018 League amazon Amazon Great Indian Sale Amazon Prime Apple Apple Inc Automobile Industry Balinese Culture Bali United Budget Travel Champions League Chopper Bike Doctor Terawan facebook Facebook app future group hotstar Indian OTT Platforms Indian Smartphone Market Istana Negara Jio Market Stories Maruti Suzuki National Exam Netflix Netflix India Netflix Originals oppo OTT OYO Realme Reliance Industries Limited Reliance Jio RIL Samsung Tata Motors Tiktok TikTok India TikTok Videos Visit Bali Vivo whatsapp Xiaomi Xiaomi India YouTube
Next Big Brand

We Talk About Brands

Follow us on social media:

Recent News

  • Pine Labs – Transforming the Digital Transaction Environment
  • Gupshup: Providing Secured Feature Rich Bot Platforms to its Clients
  • boAt Raises Rs 50 Crore from Qualcomm Ventures

Instagram

Follow Me!

Latest News

Pine Labs Acquires Fave in Deal Valued over $45 Million

Pine Labs – Transforming the Digital Transaction Environment

April 17, 2021
Gupshup Raises $100 Million, Joins Unicorn Club

Gupshup: Providing Secured Feature Rich Bot Platforms to its Clients

April 17, 2021
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • DMCA Policy
  • Our Team
  • Contact Us
  • Sitemap

© 2019 NBB. All Rights Reserved.

No Result
View All Result
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Industries
  • FMCG
  • Cryptocurrency
  • Retail
  • Tech
  • Case Study
  • Interview

© 2019 NBB. All Rights Reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.