ShareChat raises $100mn in Series D funding round led by Twitter
Indian regional language social network ShareChat has raised $100mn from its Series D funding round.
The round was led by Twitter, with six other participants including China’s Morningside Venture Capital and the US-based Lightspeed Venture Partners.
In a tweet, ShareChat CEO Ankush Sachdeva said: “Excited to have Twitter onboard our journey in building the social platform for the next billion users. We look forward to interacting closely with Jack Dorsey, Kayvon Beykpour and Manish Maheshwari and learning from their experience. Thanks to all our early investors for their continued support.”
As reported by TechCrunch, the company has 60 million monthly users across its 15 regional languages. English is not supported, with the company having no plans for its inclusion.
Sachdeva told the Economic Times: “We have very clear targets about what we want to do. The populace today already has a tremendous exposure to all the global platforms, so, when they come to your platform, they don’t expect any less. We are going to be making sure that our technology is at par, if not better than our peers.”
The development is representative of the ever increasing interest of western tech companies in the Indian market. By catering to regional languages, ShareChat has access to parts of that market who are not served by english-language applications such as Twitter.
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