ShareChat valued around $1.03 billion, founders believed to have small stake in their own company.
ShareChat's popularity is in the investors too. Microsoft reportedly eying on this startup ,
They raised amount $40 million in their E- series at the valuation of $650 million
They got takers like Twitter, SAIF and some Indian corporates like DCM Shriram promoters and D.R. Pawan Munjal
Steps that made by ShareChat to gain popularity.
1. ShareChat signed music deal with Saregama
It signed global licensing deal with Saregama on Thursday so to create new content on their another app "Moj" just like tiktok. This music library offers large number of Inde music, Hip-hop and ghazals with the diverse Indian languages like Tamil, Telegu, Marathi, Malyalam and other 18 languages
"It's so amazing to partner with ShareChat for both Hindi and regional music which just apt for a platform like this where users are so innovatively creating content using music,"- Vikram Mehra MD at Saregama India.
ShareChat and Moj has 180 million active users.
2. Acquired HPF Films on 16 sep 2020
Hpf films was started in 2018 and produced around 3500+ webseries , digital ads and much more.
Acquiring HPF Films will help them to strengthen their "Moj" and ShareChat app providing better eco-system and help it to augmenting their advertising solution.
There was undisclosed amount of acquisition.
3. Adding $14 million from ESOP pool
On wednesday they announced 50% additional Esops(employee stock ownership plan) as bonus to their employs who already hold shares in the ShareChat This decision was taken to recognise the hard work by their people. on 23 sep 2020
4. Partnered with Audible Magic for copyright content.
Audible Magic hosts and registered over 40 million works from global and local music labels and believed to be the leading tool in the content verification
ShareChat's growing popularity should ensures copyright content and protect some amazing works.
Why google want to invest in this startup?
It has the strong base in the india and indian communities. ShareChat didn't focused on the metropolitan cities it focused on the small areas and not to english speaking people. They have around 15 Indian languages. Google will get the local languages expertise, As Google announced in july that they will invest around $10 billion through google Digitization fund
Recently ShareChat had setup their experiment lab in Silicon Valley.
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Taking over ShareChat by giants is good or bad for Indian Startup communities so what's your thought about this?👇
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