ShareChat, founded in 2015 by Ankush Sachdeva, Bhanu Singh and Farid Ahsan, is among a new crop of regional-language content players tapping the next 100 million Internet users in India, buoyed by the availability cheap data made possible with the launch of Reliance Jio Infocomm.
owever, in the past year, it has faced immense pressure because of ByteDance’s aggressive moves in India. “ShareChat had been looking to bring in a large strategic round to fight the deep-pocketed ByteDance,” said a person who has invested in the sector.
The Indian social media space is dominated by Facebook, its group entities Instagram and WhatsApp and, more recently, by products from the ByteDance stable like short video app TikTok and messaging platform Helo — ShareChat competes directly with Helo
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