ShareChat parent lays off 20% employees to cut costs
Around 500 employees could be affected due to the lay offs; Mohalla Tech says as capital becomes expensive, it needs to prioritise bets.
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ShareChat parent’s losses balloon to ₹2,988 cr in FY22
Mohalla Tech, the parent company of Moj and ShareChat, saw its income rise four-fold to ₹419 crore in FY22, but its expenses also surged two times to ₹3,407 cr.
ShareChat closes $520 mn funding round at $5 bn valuation
ShareChat has raised a total of $913 million in the year 2021, which is the highest funding among all companies that became unicorns during the year.
ShareChat acquires MX TakaTak in $700 million deal
The combined Moj-MX TakaTak platform will have 100 million creators, over 300 million monthly active users and nearly 250 billion monthly video views.
Mohalla Tech scores $266 million at $3.7 billion valuation
This is the third investment garnered by the startup in the current year, taking its 2021 fund tally to a staggering $913 million.
“Never dictated what content should be”
“People referred to our Hindi memes as chillar content. My point was if India’s massive youth demographic is consuming it, why should we want to put our own sense and not give what people want?”
The not so depressing future of social media
Although social media has been in the news for all the wrong reasons of late, recent trends and new companies that are coming up point towards an exciting future.
The year of the unicorns
Last year, despite the pandemic ravaging Indian economy, there was one silver lining: India saw the rise of 11 new unicorns. Here is a list.
To tweet, or to Koo? That is the question
Home-grown microblogging app Koo—which provides non-English speakers a platform to express themselves—is the flavour of the season. But can it compete with Big Tech and other domestic platforms?
Goodbye TikTok
Digital is the new geopolitical battleground. The digital world, for all its original promises of a connected world, is looking no different from the physical one.
