• Ishaan kakkar

Google may lead $300 mn round in ShareChat app

Amid the increasing spotlight on home-grown social networks and micro-blogging platforms, local social network ShareChat is in the final stages of talks to raise as much as $300 million in new funding from Google and others that will value it at more than $1 billion, according to people aware of the matter.

“A couple of other big names are joining the round apart from Google and Snap,” a person aware of the matter said. The social media platform was last valued under $700 mn & has raised over $260 mn in capital so far. It counts venture capital firms like India Quotient, Lightspeed Venture Partners and Elevation Capital among its investors. These investors too are likely to join the new funding round.

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