ShareChat's parent company, Mohalla Tech, has launched a new social media app called ‘Vibely’. This initiative aims to attract more users and improve revenue as the company faces losses. The app includes a private calling feature, allowing users to call each other directly. Launched last week, Vibely also offers in-app purchases for users to buy virtual gifts. Although ShareChat hasn't yet reported its financial results for FY24, sources suggest a revenue increase to INR 700 crore, up from INR 540 crore in FY23. This move reflects ShareChat's efforts to adapt and grow in a competitive social media landscape.