• In the multi-tranched funding round, ShareChat has raised US$255M from Google, Times Group, and existing investors, adding to the $266M raised earlier in December 2021.
• Since 2021, ShareChat has cumulatively raised US$1.2 billion and acquired MX TakaTak
  

ShareChat (Mohalla Tech Pvt Ltd), India’s largest homegrown social media company, today announced the closure of its multi-tranche funding round through which it raised a total of US$520 million and reached US$5 billion in valuation. In the first part of the round, ShareChat had raised US$266 million in December 2021 from Alkeon Capital, Temasek, HarbourVest, Moore Strategic Ventures, and India Quotient. In the final tranche of this round, post the acquisition of MX TakaTak, ShareChat added Google and Times Group as new investors while Temasek participated yet again, adding US$255 million. ShareChat, which achieved unicorn status last year, has collectively raised US$913 million in 2021, the highest funding among all companies that became unicorns during the year.

ShareChat (Mohalla Tech) runs India’s largest short video platforms, Moj and TakaTak, besides the ShareChat app, which together cater to over 400 million users. ShareChat has in the past year, focused on rapidly monetizing its various platforms and seen its revenue surge. The company has built diversified monetization avenues beyond advertising in areas like virtual gifting and video commerce. Virtual gifting is witnessing incredible adoption on the ShareChat app, with the business line already at a US$50 million ARR, which is set to more than double by year-end.

The ShareChat app, over the years, has grown to be India's largest content ecosystem. In 2020, it launched Audio Chatrooms as a feature. Today, it has become one of India's largest voice-based live hangouts, with 2 billion minutes of audio streamed every month.

Since its launch in July 2020, Moj has grown to become India’s favourite short video app with over 3X daily active users and 2X daily time spent per user compared to its nearest domestic competitor (App Annie data, May 2022). With the most extensive music library, an in-app chat feature, and, more recently, the opportunity for creators to stream live to millions of their fans on the platform, creators are increasingly making Moj their new home. In recent months, Moj has also become a key social commerce platform in the country through its exclusive partnership with Flipkart.

Talking about the latest funding round, Ankush Sachdeva, CEO & Co-founder, ShareChat and Moj, said, “We are excited to announce the closing of our funding round and adding Google and The Times Group to our cap table. We are also happy and grateful to see Temasek reaffirming its faith in us for the third time in a year. Despite strong headwinds, it is reassuring to see investor confidence in ShareChat’s efforts and potential to grow further. Over a year ago, we turned unicorn, and since then, we have been scaling and innovating at an exhilarating pace, further refining our offerings and expanding our operations. The coming year will be about capitalizing on the scale and building robust revenue models. We are committed to empowering every Indian by providing platforms to share experiences, discover new opportunities, showcase their talents and make their passion a means to a livelihood.”

About ShareChat (Mohalla Tech Pvt Ltd):

ShareChat (Mohalla Tech Pvt Ltd) is India’s largest homegrown social media company, with 400+ million MAUs across all its platforms. Founded in 2015 by Ankush Sachdeva, Bhanu Pratap Singh and Farid Ahsan, ShareChat has several social media brands under its portfolio, such as ShareChat App, Moj, and TakaTak. Today ShareChat is India’s leading social media platform and has over 180 million monthly active users spread across the country. In July 2020, ShareChat launched its short video app Moj in a record 30 hrs. Today, Moj is India’s #1 short video app with the highest monthly active user base of 160 million. Recently, ShareChat announced a strategic merger with MXTakaTak, bolstering its short video ecosystem to 300M MAUs and 100M creators. Investors in ShareChat include Temasek Holdings, Google, The Times Group, Alkeon Capital, Moore Strategic Ventures (MSV), Harbourvest, India Quotient, Mirae-Naver Asia Growth Fund, Tiger Global, Snap, Twitter, Lightspeed, SAIF Partners (now Elevation Capital) and business stalwarts like Pawan Munjal and Ajay Shridhar Shriram.