Social media platform ShareChat has added Times Internet to its captable, media reports stated. With this, ShareChat is raising around $60.5 million from the internet giant.
As per a regulatory filing, ShareChat has allotted 4,157 equity shares to Times Internet and its subsidiary for $60.5 Mn which amounts to Rs 461.3 crore. Reports inform that this is an extension of the Series G round that was raised by ShareChat last year in December.
This development comes on the heels of ShareChat’s Moj announcing its merger with MX TakaTak, a short video platform backed by Times Internet, the Gurugram-based internet giant.
According to reports, the social media unicorn had raised $266 million in its Series G round led by Alkeon Capital, Moore Strategic Investments, among others at a $3.7 Bn valuation.
ShareChat turned unicorn with the $502 million Series E round at the end of the last fiscal year. FY21 was the second year of revenues for ShareChat during which its operating revenue surged by 754.3% to Rs 80.3 crore from Rs 9.4 crore in FY20.