ShareChat, Public App, Koo and Lokal have raised over $900 million in a little over a year.
XScale Accelerator’s startup mentor Sunil Kamath, citing a Sharechat report, highlighted that 9 out of 10 users are accessing internet content in their local languages.
ShareChat is obviously the biggest startup amongst these players, with a valuation nearing $3 billion and a monthly active user base of 180 million.
“This catchment geography referred to as “Bharat” is positioned as the catchment for the next billion users of the internet and social media. Thus, the startups aiming to tap this segment have a huge potential opportunity. With investors taking interest, coming days hold promise for vernacular social media platforms,” Center of Innovation & Incubation’s (CII) chief executive Manisha Acharya said.
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