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?
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Indian Startups on
by UsefulTailor
Navi Technologies
Sharechat raises $16Mn in extended debt round. Also laid off 5% workforce.
I feel they would be raising for 4-5 months of runway at a time this way. Anybody knows?
The fundraise is an extension of its convertible debt round in which it has already raised $49 million from Tencent and existing investors s...
https://www.moneycontrol.com/news/business/sharechat-closes-16-million-fundraise-while-firing-up-to-5-of-workforce-12786137.html#google_vignette
Indian Startups on
by RichFlavor27
Dunzo
More than two years after the post-TikTok hype, the social commerce and live commerce plans by short video apps are in disarray and most of them are bleeding users
India's short video apps have all but abandoned their social commerce and live commerce plans and most of them are bleeding users
https://inc42.com/features/india-short-video-apps-social-media-wasteland/?s=09