Heard on Twitter that social media app ShareChat is going BUST.
Is this true?
A friend from sharechat says the company is trying to raise another round of funding asap. Whatever was shared in live mint article apart from founders parting ways was more or less wodely accepted
How will they raise founders have only 9% stake left of stocks. Esop poll must be 5% total.
Company has control of only 14% stocks.
2 of the founders(CTO & COO) already left their positions. My best guess is they will sell off their stakes. Hopefully this happens and they do a buy back. I get to sell my stakes.
One of my friend was hired in Sharechat in 2019 and was then fired in 2020 COVID time. But was rehired again by 2020 end. Looks like now the founders have burned all the investors money 🙄
Just 6 months back I remember sharechat was all the rage and tons of people were getting hired.
Hi. I'm a journalist. Could you pls get in touch with me at bluethroat7@proton.me ? Or 9899703940? Your identity won't be compromised.
Did that work? 😅
Deedy post?
Yes it’s covered in livemint article
Sharechat raises 50M USD via Convertible Debentures from existing investors. The picture isn't as rosy as what it seems. Plus, twitter bio suggests that they are now positioning as an AI powered content platform? Welcome to the peak AI e...
lot of negative rumours- founders quitting, monetization efforts not panning out, mass layoffs. What does the future look like?
I feel they would be raising for 4-5 months of runway at a time this way. Anybody knows?
