ShareChat, the Bengaluru-based regional language social-media platform is all set to expand its workforce, especially in the tier II cities. It is gearing up to hire about 100-150 people within the next few months as part of its plans to strengthen its infrastructure and presence in tier II cities.
The Company has a workforce strength of 300 right now. Considering that it had only 100 employees in December 2018, the workforce has expanded rather fast. By the end of December 2020, it hopes to have about 400 to 450 employees.
The platform boasts of approx. 60 million monthly active users (MAUs), and is working towards doubling this figure by the end of 2020. About 15 to 20 per cent of its users belong to the top eight cities of India, whereas about 30 to 33 per cent belong to small towns and villages. The engagement levels of its users are also rather high, that is, 23 to 24 minutes. Its popularity is owing to its availability in the local Indian languages, with Tamil, Telugu and Hindi being the most popular. The other languages in which the platform is available are, Malayalam, Gujarati, Marathi, Punjabi, Bengali, Odia, Kannada, Assamese, Haryanvi, Rajasthani and Bhojpuri.
The company now wishes to focus on enhancing the experience for its users, for which it has been associating with various brands.
Operated by Mohalla Tech, the platform incurred a loss of Rs 414.7 crore in the last financial year, which was way higher than the loss in the previous year, that is, Rs 33.8 crore. However, its revenue increased multiple times, to Rs 25.8 crore in FY19, from Rs 1.7 crore in the previous year.
A few months back, ShareChat had received US$100 million in series D funding from microblogging site Twitter and others, managing to raise a total of US$ 224 million. Other companies that invested include, TrustBridge Partners, Shunwei Capital, Lightspeed Venture Partners, and SAIF Capital.
With approx. 536 million Indians expected to use regional languages online in the next two years, ShareChat sure has a bright future.