Twitter Invests $100 Million In An Indian Social Network Site ShareChat

Anita - Sep 13, 2019, 1:30 pm IST


In a bid to create a niche space in the growing regional social networking market in India, Twitter has led the $100 million funding round for ShareChat.

In an attempt to gain a position in the Indian growing regional social network industry, Twitter has recently led a US$100M Series D for ShareChat, which is known as the leading vernacular social network site of the country with nearly 60 mln customers.

Twitter
Twitter is investing $100 million in ShareChat.

According to Twitter India’s Managing Director Manish Maheshwari, both companies were aligned on the wider function of serving the public conversation, assisting the globe in learning faster and solving common challenges. Additionally, the investment would also help ShareChat grow and offer the management team the chance to work with Twitter's executives as partners.

Established by three graduates of Indian Institute of Technology Kanpur in 2015, ShareChat is currently valued at over US$600 mln. The media platform is available in several languages including Bhojpuri, Rajasthani, Haryanvi, Assamese, Kannada, Odia, Bengali, Tamil, Telugu, Punjabi, Marathi, Gujarati, Malayalam, and Hindi.

As per Jack Dorsey, Twitter CEO, there are various options in the Indian market. “We love the conversational nature of the society and culture. We’re really excited to make Twitter viable to more and more people in the country,” he said.

And in accordance with the CEO guidance, the company released Twitter Lite for the Indian market exclusively to attract more people who don’t have hi-speed or costly data.

“India remains a top priority market for us and we’re making sure we understand how people use it here so that we can make it better.”

Regarding monetizing Twitter and more entering the social network industry in India, the CEO has expressed his clear focus.

The latest financing round in the Indian start-up targets that course.

Five years ago, Farid Ahsan, Bhanu Pratap Singh, and Ankush Sachdeva met at an event for technological innovation and worked together on ShareChat later.

Sharechat 1 1200x600
ShareChat is currently valued at over US$600 mln.

Initially, they built ten WhatsApp groups with 100 users every and inside of mins. Then these groups flooded with all kinds of material including movies, pictures, jokes, etc. However, the biggest shock was that most of whom used a common language.

This marked the milestone for three graduates to develop ShareChat later. At present, Sachdeva works as ShareChat’s CEO, while Ahsan and Singh become the Chief Working Officer to head Operations teams, and Chief Technological Innovation Officer respectively.

Next Story

Read More

Minecraft Is Now Home To 112 Million Monthly Active Users

Features- Sep 19, 2019, 8:00 am IST

Minecraft Is Now Home To 112 Million Monthly Active Users

The spectacular performance has established Minecraft’s dominant position over other similar game titles such as Fortnite or Roblox.

Keep Yourself Away From Prying Eyes Of Google Maps With New Incognito Mode

ICT News- Sep 20, 2019, 3:00 pm IST

Keep Yourself Away From Prying Eyes Of Google Maps With New Incognito Mode

Until now, we may have to wait for quite a while to experience Google Maps' Incognito Mode.

Scientists Came Up With A Feasible Plan For An Elevator Connecting The Moon And The Earth

Features- Sep 19, 2019, 1:30 pm IST

Scientists Came Up With A Feasible Plan For An Elevator Connecting The Moon And The Earth

In their paper in August, Zephyr Penoyre and Emily Sandson, two astrophysicists details a 322,000 kilometer-long elevator connecting the two planets

Google Fi’s New Unlimited Plan: Now Available In India

ICT News- Sep 19, 2019, 2:08 pm IST

Google Fi’s New Unlimited Plan: Now Available In India

In addition to the standard service, Google Fi has presented a new plan including unlimited data, texts, and calls for a fixed amount of money every month.

Google Allows Users To Search For Specific Moments In Videos

ICT News- Sep 18, 2019, 3:00 pm IST

Google Allows Users To Search For Specific Moments In Videos

It is no secret that over the last few years, Google has been looking for a way to upgrade its search function to make it work on more than just text result

iPhone 11 India Available For Pre-Orders From September 20, Flipkart Listing Reveals

Mobile- Sep 18, 2019, 1:00 pm IST

iPhone 11 India Available For Pre-Orders From September 20, Flipkart Listing Reveals

The new iPhone 11 smartphone series is set to be available for pre-order in India from 20th September onwards, according to a Flipkart listing.