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ShareChat's valuation drops below $2 billion in new funding
TechCrunch
ยท
1y ago
Medial
Indian social media startup ShareChat has seen its valuation drop to under $2bn from around $5bn in a recent funding round. ShareChat, which operates a social network in a variety of Indian languages and a short-form video app, raised $49m in a convertible round. The company revealed it had received investments from existing backers such as Lightspeed, Temasek and Tencent. Sources said the latest fundraising would result in the conversion of existing debt to equity at a valuation below $2bn. ShareChat has not spent any money on user acquisition in the past year, instead focusing on optimising its content recommendation engine.
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Related News
Sharechat valuation drops to under $2 billion post new funding
Economic Times
ยท
1y ago
Medial
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.
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Indiaโs Pharmeasy seeks funding at 90% valuation cut
TechCrunch
ยท
2y ago
Medial
PharmEasy, valued at $5.6 billion, plans to raise a new round of funding via rights issue at a 90% valuation cut, according to a report. Read the full article on the source below to know more-
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ShareChat faces a valuation cut; PAG inks debt deal
VCCircle
ยท
1y ago
Medial
Social media platform ShareChat is reportedly in talks to raise $50 million in funding, but may face a valuation cut below $1.5 billion. This is a significant drop from its previous valuation of $4.9 billion. Existing investors Temasek and other backers are believed to be participating in the funding round. Meanwhile, investment firm PAG has signed a debt deal with ShareChat.
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Udaan in Talks with M&G Prudential for Equity Round, Valuation Expected to Dip Below $2 Billion
Business Bytes
ยท
1y ago
Medial
Indian B2B e-commerce platform Udaan is in talks with UK-based M&G Prudential for a new equity round, aiming to secure an investment of $100-150 million. This investment may result in a significant decrease in Udaan's valuation, potentially falling below the $2 billion mark. The need for an equity round and valuation correction is attributed to intense competition, changing market dynamics, operational challenges, and regulatory hurdles in India's evolving B2B e-commerce sector. While the valuation adjustment may seem challenging, Udaan's collaboration with M&G Prudential could bring valuable insights and international support, helping the company navigate these challenges and tap into the sector's potential.
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BharatPe in talks to raise $100 million in equity round
Economic Times
ยท
1y ago
Medial
New Delhi fintech startup BharatPe is in talks with existing investors to secure $100 million in fresh equity funding and is also seeking a new investor. Despite ongoing top-level talent departures, the company remains focused on profitability and preparing for an IPO. However, the funding round is expected to be negotiated at a lower valuation than the previous one in 2021 when BharatPe was valued at $3 billion. The company is considering a valuation of around $2 billion in this round to attract fresh capital and fuel its growth plans.
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Cred raises โน617 cr, valuation drops 45% to $3.5 billion
Inshorts
ยท
1m ago
Medial
Fintech unicorn Cred has secured โน617 crore in fresh funding but saw its valuation fall from $6.4 billion to $3.5 billion. The downturn reflects changing investor priorities toward profitability and sustainability. Cred plans to use the capital to expand fintech offerings and deepen user engagement, signalling a shift from blitzscaling to sustainable, revenue-driven growth.
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ShareChat lays off about 200 employees across verticals
Economic Times
ยท
1y ago
Medial
Social media platform ShareChat has laid off around 200 employees, constituting 15% of its workforce, as part of a restructuring effort to cut costs and achieve profitability in the next 4-6 quarters. Backed by Google and Temasek Holdings, ShareChat is also reportedly seeking $50 million in new funding at a valuation below $1.5 billion. This move has primarily impacted roles in the company's product functions.
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ShareChat raises Rs 407 crore in debt months after reporting a loss of over Rs 4,000 crore: Report
IndianStartupNews
ยท
1y ago
Medial
Indian social media platform ShareChat's parent company, Mohalla Tech, has raised $49 million in debt financing from existing investors, including Temasek, Lightspeed, and Tencent. The company, valued at $5 billion previously, is facing financial challenges and aiming for profitability amid tough funding conditions. To cut costs, ShareChat has laid off around 800 employees and discontinued certain services. The startup has raised over $1.7 billion in funding to date.
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Google invests $1 billion more in OpenAI rival Anthropic: Reports
Inshorts
ยท
6m ago
Medial
Google is investing $1 billion in AI startup Anthropic, a major competitor of ChatGPT maker OpenAI, as per reports. The latest funding is in addition to the $2 billion that Google has already invested in the startup. It was earlier reported that Anthropic was close to raising $2 billion in a Lightspeed-led round at a valuation of about $60 billion.
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SoftBank-backed Zetaโs valuation hits $2 bn in new funding round
VCCircle
ยท
5m ago
Medial
Zeta, a banking technology company backed by SoftBank and Mastercard, has achieved a $2 billion valuation following a $50 million investment from US-based healthcare firm Optum. The funding boosts Zeta's valuation from the $1.45 billion marked in a 2021 round by SoftBank's Vision Fund 2. Founded in 2015 by Bhavin Turakhia and Ramki Gaddipati, Zeta provides a software-as-a-service (SaaS) platform that enables banks and fintechs to launch various financial products.
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