medial-logo

News Post

Economic Times

Economic Times

| 1m

Sharechat valuation drops to under $2 billion post new funding

Indian social media firm Sharechat has seen its valuation drop by over 60% to below $2bn, down from its peak of $5bn in 2022. The company closed $49m in debt financing through convertible debentures from existing investors. These investors include Lightspeed, Temasek, Alkeon Capital, Moore Strategic Ventures and HarbourVest. Sharechat's lower valuation comes as it faces increasing competition from rivals such as Instagram and YouTube's Shorts. The funding will be used to invest in ad targeting technology and strengthen the company's monetisation plans.

placeholder-image

Comments

Gireendra Varma
Gireendra VarmaNeed job( trying to switch from nonIT - ....

Need masterminds to compete with reels and shorts.

Reply
4
1 month ago

Download the medial app to read full posts, comements and news.