InvestorQ : How ShareChat has entered the unicorn club? How many startups became Unicorn so far?
Dharnidher Dubey made post

How ShareChat has entered the unicorn club? How many startups became Unicorn so far?

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Shobit Khurana answered.
2 weeks ago
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ShareChat is the only regional language content and social media app in India. The app has been launched by three IIT Kanpur Alumni – Sachdeva, Bhanu Singh, and Farid Ahsan in 2015. The app has gained early traction and witnessed new investors including Elevation Capital, Xiaomi invest, Lightspeed, and Shunwei Capital.

The founders saw the exiting of other short-video apps from the market as an opportunity. This was mainly because creators were already trained for short-video platforms, and there could be a smooth content supply. The company focused on building relevant feed for the creators and viewers. It was the first and only Indian company to do that.

So, considering the growth prospects and the opportunities in the market, the app caught the eye of investors and has recently been valued at $2.1 billion in its latest funding round led by Tiger Global Management, Snapchat’s parent Snap Inc along with Twitter and Lightspeed. The company is becoming a matter of interest for the investors considering the opportunities after the Chinese social media apps and Tiktok has banned in the Indian market.

The company has entered the Unicorn club after attaining that valuation. It was the fifth Unicorn Startup, let alone this week. There have been nine unicorn startups so far as compared to only 11 startups during the entire 2020.

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