The $502 million funding round was led by investment firms Tiger Global and Lightspeed Venture Partners, and boosted the valuation of Mohalla Tech to a little over $2 billion, the company said in a statement on Thursday. This is Snap’s first investment in the company, while Twitter has taken part in two previous rounds, a ShareChat spokesperson told CNN Business.
“With this infusion of capital we would continue to aggressively grow our user base,” Mohalla Tech CEO and co-founder Ankush Sachdeva said in a statement.
Mohalla Tech, which was founded in 2015, has raised over $766 million in six funding rounds. It has 280 million users across its two products — ShareChat and short video app Moj.
“Moj is well positioned to seize the opportunity presented by the growth of short video in India. We are impressed with the team’s understanding of these rapidly evolving technologies and its ability to execute quickly,” said Scott Shleifer, partner at Tiger Global, in a statement.
Common Symptoms Of COVID-19
The CDC has a collection of nine Roche antibody assays designed to provide rapid results from COVID-19 rapid antigen test. If you are a potential carrier of the human papilloma virus (HPV) and are looking for HPV testing kits for the home, it is important…
Things You Never Knew About The Best Water Purifier
Things You Never Knew About The Best Water Purifier: We all know the importance of having a water purifier at home, but not many people know the things they need to know before buying one. Most of the time, we miss out on the most…
Med hub smart pill, a device for patients having medicines intake in the daily schedule.
Med hub smart pill: The drug prescribed by a doctor will be effective if it would be taken at the right time suggested by the doctor because it is necessary for our healing process. When a patient takes too many medicians in a day also…
10 Best Effective Plants to Fight Pollution – Diwali Edition
Effective Plants to Fight Pollution: Few more months and the most awaited festival of the year will be here. We Indians love our festivals, and the biggest festival of India, especially north India, is Diwali. It is a massive affair here. It generally falls in…