ShareChat valued at $2.1 billion in $502 million fundraise – TechCrunch

ShareChat said Thursday that it had raised and participated in a new funding round worth over $ 2 billion. 4 other local startups By gaining unicorn status this week.

Indian social networks said they raised $ 502 million in a new funding round (Series E) led by Tiger Global, which valued ShareChat from about $ 650 million last year to $ 2.1 billion. Snap and existing investor Twitter also participated in the round, said ShareChat, which has raised about $ 765 million so far.

Startups started engaging with investors for a new funding round about 10 months ago, Complete acquisition agreement with TwitterIt didn’t happen, TechCrunch reported earlier.

ShareChat, which claims to have more than 160 million users, offers social networking apps in 15 Indian languages, called “India 2” by small Indian cities and towns, or Blume Ventures venture capitalist Sajith Pai. It has gained a lot of support for what it has. In India’s startup ecosystem, few players can reach this segment of the population. This has been increasingly online in recent years, thanks to users in smaller towns and villages called “India 3”.

Last year, a Bangalore-based startup launched Moj. It is attracting more than 80 million monthly active users to fill the void after New Delhi banned TikTok, which counts India as the largest international market. It is blocked.snap Signed a contract with ShareChat Earlier this year, we plan to integrate the camera kit into the Indian short video app. (Thursday trading is Snap’s first investment in an Indian startup.)

Moj is competing with a few players, including Times Internet’s MX TakaTak, which currently leads the market with over 100 million monthly active users.

This is a developing story. read more…

ShareChat valued at $2.1 billion in $502 million fundraise – TechCrunch Source link ShareChat valued at $2.1 billion in $502 million fundraise – TechCrunch

Related Articles

Back to top button