Social media giant ShareChat, owned by Mohalla Tech, plans to enhance its algorithms to deliver personalized content and boost user retention.
Backed by Temasek and Tiger Global, the platform invested a major portion of its $65 million funding into advanced algorithms. In FY24, ShareChat’s revenue grew 23% to ₹718 crore, while losses narrowed to ₹1,897 crore from ₹5,143 crore in FY23, thanks to cost-cutting and automation. The app became profitable in October, and Moj is expected to follow by FY25. ShareChat aims for a public listing within two years after achieving consistent profitability.