Crisis in ShareChat?
Heard on Twitter that social media app ShareChat is going BUST. - At ~$42m revenue, it's valued at 120x rev - ~95m DAU in rural India - Founders cashed out $10m in secondaries. Is this true?
A friend from sharechat says the company is trying to raise another round of funding asap. Whatever was shared in live mint article apart from founders parting ways was more or less wodely accepted
How will they raise founders have only 9% stake left of stocks. Esop poll must be 5% total.
Company has control of only 14% stocks.
Dezi Everett
Stealth
2 years ago
2 of the founders(CTO & COO) already left their positions. My best guess is they will sell off their stakes. Hopefully this happens and they do a buy back. I get to sell my stakes.
Just 6 months back I remember sharechat was all the rage and tons of people were getting hired.
Kendall Hyrum
Stealth
2 years ago
One of my friend was hired in Sharechat in 2019 and was then fired in 2020 COVID time. But was rehired again by 2020 end. Looks like now the founders have burned all the investors money 🙄
Jordon Lee
Student
2 years ago
Hi. I'm a journalist. Could you pls get in touch with me at bluethroat7@proton.me ? Or 9899703940? Your identity won't be compromised.
