ShareChat

This comes a week after Mohalla Tech Pvt Ltd, the parent company of homegrown video-sharing platforms ShareChat and Moj, laid off 20 per cent of its workforce, comprising around 500 employees

This comes amid the current funding crunch in the Indian start-up ecosystem

Rebel Foods, which has brands like Behrouz Biryani and Oven Story, has also reportedly cut its headcount

Indian startups raised $24 billion last year, a third lesser than in 2021, according to Venture Intelligence

As companies seek to impress people in all parts of the country, there is a demand for expertise in local dialogue

The short-form video market can provide the country with a monetisation opportunity worth $19 billion by 2030, according to a report by management consulting firm RedSeer

Social media company raises $255 mn from Google, Times Group and existing investors

ShareChat (Mohalla Tech) in a statement said it has closed multi-tranche funding round through which it raised a total of USD 520 million and reached USD 5 billion in valuation.

A BS analysis shows no Indian app has been able to garner as many unique visitors as TikTok did before it was banned

ShareChat counts Twitter and Snap as investors and if the bid by Tesla CEO Elon Musk to buy Twitter goes through, Musk will have potentially a stake of between 6% and 8% in ShareChat

The parent company behind short-video platform Moj and regional social network ShareChat, is in the process of raising about $300 million in fresh funding from Alphabet Inc's Google and Singapore's Te

In a Q&A, Sachdeva also dwells on his company's monetisation plan, and the strategy behind the $700 mn acquisition of short video platform MX TakaTak

After the cash-and-stock transaction, MX Media and its shareholders will become strategic shareholders of ShareChat

Short video platform MX TakaTak will merge with social media firm ShareChat's Moj platform to create a community of 100 million content creators with access to 300 million monthly active users

Here are the top headlines on Thursday

The acquisition, sources close to the development told IANS, will further bolster ShareChat's short-video market share through the platform Moj

With the MX TakaTak acquisition, ShareChat's parent will now have two short-video apps in its portfolio.

The finding shows 29% of Bharat users post content daily at least once as compared to 22% of India users; 39% of Bharat uses social media as primary news source

Today, Moj has the highest number of monthly active users-160 million amongst Indian short video apps

Since Jan 2021, the company has grown to over 2000 employees and added several new features as it focuses on building its products to be the leader in the Indian short video and social media space