ShareChat, the Indian language social platform, has closed a $4-million Series A round of funding, led by Lightspeed India Partners, and from existing investors, SAIF Partners and India Quotient.
The funding round also saw participation from Venture Highway (through VH Capital). Sharechat is building the largest social content network in India with a focus on small town users and vernacular content.
Most of what is in this “kill time” category is the traditional entertainment & media industry rejigging their content for mobile consumption and distributing this one-way through aggregators or directly. Examples would be Saavn or Hotstar or InShorts or Youtube. Almost no one has created or exposed new content for the average Indian common man or woman. This is what Sharechat is doing” says Farid Ahsan, Co-founder & CEO, ShareChat.
As the name suggests, ShareChat allows users to create, discover and share content with each other much like people do on Tumblr and Instagram.
Users can follow other users who are either a content creator or a friend on the platform for regular updates, much-like most other social networks. The key differentiator for ShareChat, however, is the primary action of sharing.
ShareChat is available in 6 languages, namely, Hindi, Telugu, Malayalam, Marathi, Gujarati and Punjabi. Tamil and Bengali are currently in private beta and will be shortly made available for all users.
The app has been downloaded 3.5 million times, with roughly 2 million active users on the platform. At a daily level, 1 million content pieces get shared per day from ShareChat.