Twitter-Backed Social Media Platform Also Gets Google Backing In $255M Funding Round

Indian social media app ShareChat, which counts Twitter Inc TWTR and Snap Inc SNAP among its investors, recently raised $520 million in a multi-tranche funding round.

ShareChat, in a statement, said that after the recent funding round, the company exceeded $5 billion in valuation.

In the first part of the funding round, the company raised $266 million from Alkeon Capital, Temasek, HarbourVest, Moore Strategic Ventures, and India Quotient in December.

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In the second round, it has raised $255 million in funds from Alphabet Inc's GOOGL GOOG Google and Indian media giant Times Group.

"We are excited to announce the closing of our funding round and adding Google and the Times Group to our cap table. We are also happy and grateful to see Temasek reaffirming its faith in us for the third time in a year. Despite strong headwinds, it is reassuring to see investor confidence in ShareChat's efforts and potential to grow further," said Ankush Sachdeva, founder and CEO of Mohalla Tech, the parent company of ShareChat.

ShareChat — which achieved unicorn status last year — has collectively raised $913 million in 2021, marking "the highest funding among all companies that became unicorns during the year."

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