Made In India videos and entertainment app ShareChat is soon going to become a unicorn. As per reports coming in, Sharechat is in talks with US-based VC firm Sequoia Capital, and a formal announcement can come in this quarter irself.
What has made Sharechat a blockbuster hit?
Sharechat Can Raise Rs 1500 Crore At $1 Billion Valuation
As per an unnamed source who is close to the developments, Sharechat is in advanced level talks with Sequoia Capital to raise $200 million or Rs 1500 crore, and this will be done at a valuation of $1 billion or Rs 7500 crore.
If we believe the source, then the transaction can be executed in this quarter itself.
MoneyControl quoted the unnamed source: “Sharechat is in active discussion with Sequoia Capital to raise around Rs 1,500 crore. It should take valuation of Sharechat to around Rs 7,500 crore. In normal course, the transaction should be done within a quarter,”
What Has Made Sharechat A Blockbuster?
Sharechat is a video platform which is tapping the regional users, and is available for speakers in Hindi, Telugu, Marathi, Gujarati, Punjabi, Malayalam, Bengali, Tamil, Kannada, Odia, Bhojpuri, Assamese, Rajasthani, Haryanvi & Urdu.
Users can make, and share videos related to funny short videos, jokes, songs, ?shayari,? ?motivational quotes?, bhajans, devotional songs? and more, all in one platform.
Due to its diversity of video content, and emphasis on regional content has made Sharechat a force to reckon with.
Sharechat has been downloaded 20 crore times, which was 9.8 crore last month.
And in terms of new users, the app has witnessed a stunning 100% growth: From 6 crore user last month, there are now 14 crore users on Sharechat.
After the ban TikTok, Sharechat owners launched a short video app Moj in June, and quickly, they garnered 10 million downloads as well.
Exciting days ahead for Sharechat and Moj in India, and we will be closely observing the developments.
Stay tuned!