ShareChat - Entertaining the Regional Audience

A new era of global communication has been brought about by the emergence of social networking platforms, which have been fueled by the widespread use of smartphones and the internet. But in the midst of this digital transformation, a lot of platforms have unintentionally ignored the linguistic and cultural variety seen in places like India in favor of catering mostly to English-speaking viewers.

Seeing this void, ShareChat, a social networking site specifically designed with Indian users in mind, arose in January 2015. ShareChat facilitates cultural expression and community cohesiveness by offering a platform for users to connect, share, and interact in their original languages, supporting 15 languages, including Tamil, Hindi, Malayalam, and Gujarati.

ShareChat's dedication to linguistic diversity is demonstrated by the variety of vernacular material it offers on subjects including dictionaries, health advice, DIY cures, and inspirational sayings. In addition to addressing a significant gap in the social media scene, ShareChat enables people to express themselves honestly in languages that are consistent with their cultural identities. This is achieved by accommodating the linguistic preferences of its users.

Read about ShareChat founders, funding, revenue model, competitors, and business model and more.

ShareChat - Company Highlights

ShareChat - About
ShareChat - Industry
ShareChat - Founders and Team
ShareChat - Shareholdings
ShareChat - Startup Story
ShareChat - Name and Logo
ShareChat - Mission and Vision
ShareChat - Products and Service
ShareChat - Business Model
ShareChat - Revenue Model
ShareChat - ESOP
ShareChat - Challenges Faced
ShareChat - Funding and Investors
ShareChat - Acquisitions
ShareChat - Growth
ShareChat - Partnership
ShareChat - Competitors
ShareChat - Future Plans

ShareChat - About

ShareChat, much like any other social networking platform, allows its users to create, discover and share content with each other. Furthermore, ShareChat users can follow other users on the same platform, regardless of whether they are content creators, friends, or any person of interest, and track regular updates. The ShareChat users are not only excited about consuming the content they find on the platform but are also involved in the creation of this content.

ShareChat - Industry

The digital media industry in India is expected to develop at a compound annual growth rate (CAGR) of 23.49% by 2025, according to a report by Dentsu India. According to the report, by 2025, the industry's revenue is expected to reach Rs 62,045 crore, up from Rs 40,685 crore in 2023. This strong development trajectory highlights how important digital media are becoming in India's changing media environment.

A growing digital ecosystem, shifting consumer behaviors, and technological improvements have made firms more adept at using digital platforms to connect with and interact with their target markets. The anticipated expansion not only mirrors the burgeoning digital economy but also underscores the prospects and room for creativity in India's digital media industry.

ShareChat - Founders and Team

ShareChat was founded by Farid Ahsan (Co-Founder and Board Member), Bhanu Pratap Singh (Co-Founder and CTO), and Ankush Sachdeva (Co-Founder and CEO).

Ankush Sachdeva

Co-Founder and CEO of ShareChat and Moj, Ankush Sachdeva was a BTech Computer Science student from IIT Kanpur. After Interning at Microsoft, Ankush co-founded ShareChat in 2015. He served the company as the co-founder and CPO of the company before being promoted to the rank of CEO in 2017. ShareChat was Ankush Sachdeva's 18th attempt to build a startup, and Sharechat has truly turned into a considerable giant operating in the social media space

Farid Ahsan

Farid Ahsan was a BTech student who completed his degree in Material Science and Engineering from IIT Kanpur. He currently serves as the Co-Founder and the Board Member of ShareChat. He is also the the Co-Founder of General Autonomy.

Bhanu Pratap Singh

Bhanu Pratap Singh was also an IIT Kanpur student who completed his degree in Electrical Engineering there. He is the Head of the technology vertical of the platform, along with serving as the Co-Founder and CTO of ShareChat.

ShareChat has an employee strength of between 1,001 - 5,000 employees, as per LinkedIn.

ShareChat - Shareholdings

ShareChat shareholdings pattern as of August 2021:

ShareChat - Startup Story

Three IIT graduates, Farid Ahsan, Bhanu Singh, and Ankush Sachdeva, launched ShareChat in 2015 based on a straightforward realization: there was a user base that was ready to express themselves but lacked an appropriate platform. Acknowledging the unexplored market of local audiences, they introduced ShareChat, which at first served as an application for sharing content on WhatsApp.

They found a substantial preference for Sachin Tendulkar and cricket-related content as they dug deeper into user behavior. ShareChat, a regional language-driven social networking site aimed mostly at users in Tier 2 and Tier 3 cities, was created as a result of this discovery.

Within three months, the platform attracted downloads, and India Quotient provided money, demonstrating its rapid growth. When the Indian government outlawed TikTok in 2019, ShareChat's growth took a further turn for the better. This led the team to create Moj, a short-form video app.

In spite of the pandemic's obstacles, ShareChat grew rapidly, gaining millions of users and turning down a substantial Google takeover offer. ShareChat is a monument to the vision and tenacity of Ankush Sachdeva and his team as it grows its user base with the goal of reaching a large audience.

ShareChat - Name and Logo

The parent company of ShareChat is "Mohalla Tech Pvt Ltd."

ShareChat - Mission and Vision

ShareChat's mission and vision statement say, "We aspire to help individuals form substantial connections and stay entertained."

ShareChat - Products and Service

ShareChat: Some of the prominent products and services are:

ShareChat Learning Hub

In order to better serve marketers, advertisers, and brands, ShareChat has introduced ShareChat Learning Hub, a comprehensive certification program that is unique in its type, in March 2023.

Pinning Card

On July 10, 2023, ShareChat revealed the launch of a brand-new feature called Pinning Card, which allows hosts to increase the visibility of their chatroom sessions by pinning them themselves.

ShareChat - Business Model

There are two prominent kinds of business models followed by the content marketing community on the internet. The first one helps in building a network where the content material is created and owned by the platform creators. On the other hand, lies the second kind of model, which helps create a major part of the content material by the customers. This is what ShareChat does.

ShareChat believes in existing as a popular social networking platform, where users can upload photos, and videos, create content, chat with others, make friends, and more. However, unlike the other social media platforms, Sharechat helps in conveying all the messages in the regional languages of India.

ShareChat - Revenue Model

ShareChat makes revenue from different resources; some of the prominent ones are:

• ShareChat makes money from its platform through advertising, drawing advertisers in with the help of its sizable user base and engagement data.
• Innovative content monetization strategies used by ShareChat support the company's revenue growth and guarantee a long-term business strategy that benefits all of its stakeholders.

ShareChat - ESOP

ShareChat increased the amount available for its Employee Stock Ownership Plan (ESOP) in November 2022 from Rs 1,475 crore to Rs 2,375 crore. For this expansion, additional options worth Rs 900 crore, or around $110.5 million, were added with the intention of rewarding and encouraging new workers.

This step is indicative of ShareChat's dedication to promoting employee engagement and coordinating the team with the organization's long-term growth goals.

ShareChat - Challenges Faced

ShareChat faced several difficulties in 2023 that put its adaptability and tenacity to the test. One major challenge was the requirement to implement a large labor reduction, which affected about 25% of the company's workers as per news report of December, 20, 2023. This reorganization was a response to the ever-evolving market conditions and the dynamic character of the sector, which required ShareChat to optimize its operations.

In addition, Mohalla Tech, the parent company of ShareChat, experienced difficulties when Jeet11, its fantasy game subsidiary, closed, resulting in the regrettable layoff of 100 workers.

These difficulties highlighted ShareChat's need to carefully negotiate changing market dynamics while giving strategic choices top priority in order to guarantee long-term growth and sustainability. ShareChat persisted in its resolve to overcome these challenges and carry out its objective of providing its consumers with efficient service in the constantly changing digital environment.

ShareChat - Funding and Investors

ShareChat has raised $1.7 billion to date.

Here's looking at the most prominent funding rounds for ShareChat:

ShareChat - Acquisitions

ShareChat acquired 6 companies to date:

ShareChat - Growth

ShareChat:growth highlights are:

• It has 32+ million creator community as of March 2024
• The time spent on ShareChat was 31 minutes as of March 2024
• The number of shares per month on ShareChat was 2.5 billion+ as of March 2024
• It has generated 75 billion+ pieces of content as of March 2024
• The company has 180 million MAU as of March 2024

Financials

ShareChat Expenses

ShareChat total expenses rise from Rs 3,408 crore in FY22 to Rs 3,959 crore in FY23.

EBITDA

ShareChat - Partnership

ShareChat has partnered with many companies; some of the prominent ones are:

GroupM

GroupM and ShareChat have partnered on August 29, 2022, to drive a new chapter in contemporary marketing. The strategic alliance will concentrate on offering customers efficiency and efficacy throughout the digital marketing ecosystem's pillars.

Dukaan

In order to help merchants on its platform work with creators on ShareChat and Moj to promote their items through live and video content, Dukaan announced that it has partnered with both platforms on September 9, 2022.

Httpool

To increase sales and broaden its market, ShareChat (Mohalla Tech Pvt. Ltd.) has partnered up with Httpool by Aleph, a global partner of significant media platforms, on November 23, 2022.

ShareChat - Competitors

Smartphones today are full of social networking and content-sharing applications because that’s what people want to see and do today. In this highly competitive field, ShareChat, directly and indirectly, competes with:

• Roposo
• Koo
• BetterButter
• Giphy
• Nerdery
• Chingari
• Josh
• Digg

ShareChat - Future Plans

In the coming future, ShareChat claims that there will be major changes in the way the application functions. The users can fairly expect a lot more variety in the area of the content formats. Also, the users can expect a lot more content creators to transform into celebrities, and to see people who become famous on ShareChat. Also, India has 15 official languages and more than 1600 known dialects. So, ShareChat wants to cater to more regional audiences. What the platform doesn't want is to limit itself to India.

FAQs

What is the ShareChat app?

ShareChat, much like any other social networking platform, allows its users to create, discover and share content amongst one another. However, the platform is distinguished by the regional languages that ShareChat uses for the content shared.

What services does ShareChat provide?

ShareChat provides its users with health tips, homemade remedies, weight loss, religious quotes, and a dictionary to only name a few.

Who is the founder of ShareChat?

ShareChat was founded by Farid Ahsan, Bhanu Singh, and Ankush Sachdeva.

Who is the CEO of ShareChat?

Ankush Sachdeva is the CEO of ShareChat and has been so since 2017.

Who are the competitors of ShareChat?

ShareChat, directly and indirectly, competes with Roposo, BetterButter, Giphy, Nerdery, Digg, and many more.

What is the ShareChat user base?

ShareChat user base currently stands at over 325 monthly active users.