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ShareChat valued at $2.1 billion in $502 million fundraise

ShareChat mentioned on Thursday it has raised a brand new financing spherical that values it at over $2 billion, becoming a member of four other local startups achieve the unicorn standing this week.

The Indian social community mentioned it has raised $502 million in a brand new financing spherical led by Tiger World that valued ShareChat at $2.1 billion. Snap and Twitter additionally participated within the spherical, mentioned ShareChat.

The startup started participating with traders for the brand new financing spherical about 10 months in the past, and explored a full buy out deal with Twitter, which didn’t materialize, TechCrunch reported earlier.

ShareChat, which claims to have over 160 million customers, presents its social community app in 15 Indian languages and has a big following in small Indian cities and cities, or what enterprise capitalist Sajith Pai of Blume Ventures refer as “India 2.” Only a few gamers within the Indian startup ecosystem have a attain to this section of this inhabitants, which due to customers from even smaller cities and villages — known as “India 3” — getting on-line has expanded in recent times.

Final 12 months, the Bangalore-based startup launched Moj, a short-form video app that it says has already amassed over 80 million month-to-month lively customers. Snap inked a deal with ShareChat to combine its Digital camera Equipment into the Indian short-video app earlier this 12 months.

It is a creating story. Extra to comply with…

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