Mohalla Tech is an Indian internet technology company, headquartered in Bangalore, India. Mohalla Tech developed applications such as ShareChat, Moj and Moj Lite + (TakaTak). It acquired MX TakaTak, a short video platform in February 2022. The current valuation of the company is $5 billion.

Foundation and history

Mohalla Tech Pvt Ltd was incorporated in January 2015 by three IIT Kanpur graduates: Ankush Sachdeva, Bhanu Pratap Singh and Farid Ahsan. The company is headquartered in Bengaluru, Karnataka, and presently employs over 2500 people. Initially, ShareChat primarily worked as a content sharing platform, without any scope of users generating their own content. In April 2016, ShareChat enabled user-generated content creation on its platform, allowing its users to share their own posters and creative content. At around the same time, it also introduced open tagging for users, which would allow anyone to create their own hashtags depending on the content. In January 2023, Farid Ahsan and Bhanu Pratap Singh stepped down from their respective roles as Chief Operating Officer and Chief Technology Officer. Currently, Manohar Singh Charan (CFO) and Amit Zunjarwad (CPO) are leading the management along with Ankush Sachdeva (CEO).

Acquisitions

In March 2019, Mohalla Tech acquired Transversal Tech-owned short video sharing platform, Clip. In February 2020, it acquired Bengaluru-based online fashion marketplace Elanic. In March 2020, it acquired a meme discovery and sharing platform, Memer. In August 2020, it acquired a hyperlocal information platform, Circle Internet. Sharechat parent company also bought MX TakaTak from Times Internet Group for $700 million in one of the biggest acquisitions of 2022.

Funding

In September 2020, ShareChat raised $40 million from investors Dr. Pawan Munjal of

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, Ajay Shridhar Shriram of DCM Shriram, Twitter, SAIF Partners, Lightspeed Ventures and India Quotient. By April 2021 ShareChat had raised $500 million from investors and was valued at over $2 billion. In May 2022, ShareChat raised $300 million from Google, Times Group and Temasek Holdings at a valuation of $5 billion.

References

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Foundation and history

Acquisitions

Funding

See also

References