India’s Sharechat is latest to enter unicorn club with $502m funding round
Photo by Himanshu Choudhary on Unsplash
April 8, 2021
Homegrown social media apps, Sharechat and Moj, are the latest entrants to the unicorn club. Mohalla Tech, the company behind these apps, has raised $502 million in its latest funding round, led by venture firms Lightspeed Ventures and Tiger Global. American social media companies, Twitter and Snap Inc, also participated in the round.
Ankush Sachdeva, chief executive officer and co-founder of ShareChat, said the fresh funds will be used to grow the company’s user base, strengthen the creator community on its apps, and improve the company’s artificial intelligence (AI) powered recommendation engines.
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On Wednesday, Netflix also announced new seasons of its India originals such as crime drama series Delhi Crime and Jamtara , romantic comedy Mismatched , crime drama She , comedy-drama series Masaba Masaba , and Little Things . Mumbai-based production house The Viral Fever (TVF) is also debuting the second season of its comedy-drama web series ‘Kota Factory’ on Netflix after streaming the first season on YouTube.
The new films include Hindi films Haseen Dilruba , Ajeeb Dastans , Jaadugar , Meenakshi Sundareshwar , Dhamaka , Sardar Ka Grandson , Pagglait , Milestone , Tamil film Navarasa , and Marathi film The Disciple .
Other titles include a new reality show called Social Currency , new seasons of reality television series Fabulous Lives of Bollywood Wives and Conde Nast India s wedding reality show The Big Day , and a comedy special by Kapil Sharma.
Read more about Homegrown players score high on TikTok s exit from Indian market on Business Standard. As of Thursday, top free apps on Google s Play Store in India were Moj, TakaTak, Snacky Takatak, Snapchat and Instagram.