ShareChat

Sharechat raises $49 mn in debt financing spherical, valuation drops 60%

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Google-backed homegrown social media agency Sharechat has closed a $49 million debt financing by means of convertible debentures from current investors-Lightspeed, Temasek, Alkeon Capital, Moore Strategic Ventures and HarbourVest, amongst others. The corporate’s valuation has fallen by over 60 per cent to beneath $2 billion from its peak of $5 billion, mentioned sources. Additionally learn: … Read more

ShareChat lays off about 200 throughout verticals

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Mohalla Tech, the guardian entity of the vernacular social media platform ShareChat and brief video leisure app Moj, has laid off 200 of its workforce in a bid to streamline prices and obtain profitability throughout the subsequent four-six quarters. The Bengaluru-based unicorn has diminished its group dimension by 15 per cent in a bid to … Read more