Homegrown regional language social media platform ShareChat has raised $502 million funding led by Tiger Global and participation from Lightspeed, Snap and Twitter. This has come at a valuation of $2.1 billion.
“Excited to share that we have raised $502mn at $2.lbn valuation from Tuger Global, Lightspeed, Snap, Twitter and others. This capital will help us accelerate our journey of building India’s largest AI powered content ecosystem. We are thankful to all our existing andnew investors for their support,” – Ankush Sachdeva, co-founder, via twitter.
The social media website is available in 15 local languages, including Tamil, Malayalam, Bengali, and Assamese, and has close to 160 million monthly active users. Following India’s crackdown on Chinese apps such as TikTok and Helo, it also introduced Moj, a short video format app. In just nine months, the company has grown to 120 million monthly active users