ShareChat has reduced its workforce by 200 employees, and its valuation has seen a 50% decline over the past year.

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ShareChat has reduced its workforce by 200 employees, and its valuation has seen a 50% decline over the past year

Bengaluru-based social media platform ShareChat has reportedly laid off 200 employees as part of a "strategic restructuring" aimed at streamlining the company's cost base. In an official statement, ShareChat mentioned the decision was driven by the need to achieve profitability within the next four-six quarters. This move follows the termination of 600 employees earlier this year as part of cost-cutting measures. The company, which faced challenges in 2023, has seen a significant reduction in its valuation from $4.9 billion last year to $1.5 billion this year, marking a substantial decrease of approximately ₹28,300 crore. ShareChat is currently seeking $50 million in new funding to recover lost valuation, backed by Google and Tamasek. The co-founders stepped down in January 2023, contributing to a gradual decline in the company's valuation despite reaching a peak of $5 billion in March.




ShareChat layoffs
Strategic restructuring
Cost-cutting measures
Valuation decline
Profitability goals
Workforce reduction
ShareChat funding
Google and Tamasek backing
Funding challenges
Mohalla Tech subsidiary closure
Jeet11 shutdown
Co-founder departure
Investor confidence impact
Peak valuation in March
Net loss percentage increase
Social media platform challenges
Funding difficulties
New funding round
Employee severance details
ShareChat's 2023 challenges.







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