Happy to share we have raised $50m from Lightspeed, Temasek and other investors.
The last two years have been transformative for us at ShareChat, as we shifted our focus from solely driving user growth to strengthening our revenue generation capabilities and advancing towards sustainable growth.
In this period, we've made significant strides in becoming a more sustainable business, reducing our monthly burn by 90% and doubling our revenue! 🚀
We hit our first milestone of making the ShareChat product profitable in October 2023.
We are now expecting the Moj product to be profitable by Jun'24 and overall company being profitable in next 12 months.
Our team has been the driving force behind our significant progress so far.
In appreciation of their incredible contributions and to encourage sustained momentum, we are thrilled to announce a one-time bonus for all our employees.
This bonus effectively doubles their total ownership in the company. To facilitate this, we have allocated an ESOP pool that represents 3.5% of our cap table for these bonus grants.
This has been a steep learning experience for all of us and we are confident we will come out on the other side as the largest profitable social media company of India with 30cr+ community and build from there on! 🇮🇳🔥
https://lnkd.in/gTSgYG9K