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India's next growth story has to have a regional focus, says ShareChat's Ajit Varghese

9 August 2022

In June, ShareChat raised $255 million and reached $5 billion in valuation. Moj has grown to become a popular short video app with over three times daily active users and two times daily time spent per user compared to its nearest domestic competitor, according to the company.

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Home-grown social media company ShareChat is building diversified monetisation avenues beyond advertising in areas like virtual gifting and video commerce. Mohalla Tech, its parent company, also runs India's largest short video platforms Moj and TakaTak, besides the ShareChat app, which has more than 40 crore users. The recently-turned unicorn told Business Today that with digital penetration going up, touching almost 60-70 crore today, every individual is getting a voice.

"As it goes to 1 billion-level, we will see everybody is satisfying either their content need or utility need or access need. To me, that part of India is helping us grow in the next decade. And that India is very heterogeneous. So, the next India growth story has to have a regional focus. And it’s already happening with either translations or using AI (Artificial intelligence) to capture a larger audience," Ajit Varghese, Chief Commercial Officer, ShareChat said.

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