Times Internet infuses over Rs 461 cr in ShareChat
As per a regulatory filing, the social media unicorn has allotted 4,157 equity shares to Times Internet and its subsidiary 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.
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