ShareChat’s parent company, Mohalla Tech has raised $ 300 million in fresh funding from Alphabet (Google’s parent company), the Times Group and Singapore-based Temasek Holdings. As per reports, the funding has been raised at a valuation $5 billion and the announcement will be made soon.
It should be noted that this is Google's next big investment in the country’s start-up space, after they funded Josh last year. In 2020, Sundar Pichai, CEO of Alphabet and Google, had said that they plan to invest $ 10 billion in India across five to seven years.
Mohalla Tech in February 2022 had also announced a merger between ShareChat and MXTakatak. Both the platforms are now controlled by ShareChat. However, MXTakatak continues to operate as a separate app. Tiger Global, Lightspeed, Twitter, and Snap are also some other companies that have invested in ShareChat.
As per the company, ShareChat currently has 180 million monthly active users. Moj, along with the recently acquired MX TakaTak, has a combined user base of 300 million.