ShareChat Valuation May Hit $400M in a New Funding Round

Indian language social platform ShareChat is in talks to raise a new round of funding from over half a dozen top global financial and strategic investors like WeChat owner Tencent, South African media firm Naspers, investment firms DST Global, Hillhouse Capital and Morningside Ventures, US-based e-commerce giant Amazon and Chinese online media players Toutiao and Kwai, at a valuation of $400 million. 

The three-year-old startup founded by IIT Kanpur alumni Farid Ahsan, Bhanu Singh, and Ankush Sachdeva, has last raised $18 million in Series B funding from Shun Wei Capital and Xiaomi Singapore in February 2018 at a valuation of $75 million. The company has raised a total funding of $24 million so far.

Also Read : 

• ShareChat Raises $4M in Series A Round from Lightspeed India Partners, SAIF Partners, India Quotient & Others
• ShareChat Raises $1.35M in Seed Round Led by SAIF Partners

The company is in in talks to raise about $100 million in funding and existing investors like Xiaomi and Shunwei are also expected to invest in this round, reported ET. 

ShareChat which has over 5 million daily active users, is expected to reach 10 million daily active users in 2018.