Crisis in ShareChat?

Heard they have just few months of runway left. Is this true?

lot of negative rumours- founders quitting, monetization efforts not panning out, mass layoffs. What does the future look like?

Sharechat raises 50M USD via Convertible Debentures from existing investors. The picture isn't as rosy as what it seems. Plus, twitter bio suggests that they are now positioning as an AI powered content platform? Welcome to the peak AI era. Time to jump off the AI bandwagon when normies start chanting AI AI AI.

ShareChat’s 62% increase in revenue for FY23, at Rs 540 crore. However, its losses widened 38% to Rs 4,064 crore

Are they dying a slow death? Is it going to create any value in the long term or just founders make some money via secondaries and chill in life

This morning, ShareChat laid off twenty percent of it's entire staff. The laid off employees were locked out of their system and received the communication of their lay off in their personal email. This is the biggest layoff by ShareChat so far. Many of the features of the ShareChat and Moj app have been told to shut down and their entire team is fired. The employees are offered 45 days of severance pay, leave encashment, bonus and are allowed to keep their system with them.

What is the current state of sharechat ? Last i heard, they were not doing well