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

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

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ShareChat mentioned on Thursday it has raised a brand new financing spherical that values it at over $2 billion, becoming a member of four other local startups in achieving the unicorn standing this week.

The Indian social community mentioned it has raised $502 million in a brand new financing spherical — Collection E — led by Tiger World that valued ShareChat at $2.1 billion, up from about $650 million final 12 months. Snap and current investor Twitter additionally participated within the spherical, mentioned ShareChat, which has raised about $765 million up to now.

The startup started participating with buyers for the brand new financing spherical about 10 months in the past, and explored a full buy out deal with Twitter, which didn’t materialize, TechCrunch reported earlier.

ShareChat, which claims to have over 160 million customers, affords its social community app in 15 Indian languages and has a big following in small Indian cities and cities, or what enterprise capitalist Sajith Pai of Blume Ventures refer as “India 2.” Only a few gamers within the Indian startup ecosystem have a attain to this section of this inhabitants, which due to customers from even smaller cities and villages — known as “India 3” — getting on-line has expanded lately.

Final 12 months, the Bangalore-based startup launched Moj, a short-form video app that it says has already amassed over 80 million month-to-month lively customers to fill the void left after New Delhi banned TikTok, which counted India as its largest worldwide market previous to being blocked. Snap inked a deal with ShareChat to combine its Digicam Package into the Indian short-video app earlier this 12 months.

This can be a growing story. Extra to comply with…

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