ShareChat loss rises 12-fold to ₹415 crore on higher expenses | Mint
05 November 2024
The losses of Bengaluru-based Mohalla Tech Pvt. Ltd, which owns regional language social networking platform ShareChat, have increased dramatically this fiscal over the last year on the back of higher expenses. The startup, currently valued at $600-650 million, reported a loss of about ₹414.7 crore in fiscal 2018-19, or about 12 times more than the ₹33.8 crore loss it had incurred in FY18. ShareChat’s revenue, though, rose 15-fold to ₹25.8 crore, albeit on a smaller base of ₹1.7 crore last fiscal. This comes against the backdrop of the platform, which has 60 million monthly active users across the country, announcing plans to expand its user base.
The losses of Bengaluru-based Mohalla Tech Pvt. Ltd, which owns regional language social networking platform ShareChat, have increased dramatically this fiscal over the last year on the back of higher expenses. The startup, currently valued at $600-650 million, reported a loss of about ₹414.7 crore in fiscal 2018-19, or about 12 times more than the ₹33.8 crore loss it had incurred in FY18. ShareChat’s revenue, though, rose 15-fold to ₹25.8 crore, albeit on a smaller base of ₹1.7 crore last fiscal. This comes against the backdrop of the platform, which has 60 million monthly active users across the country, announcing plans to expand its user base.
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