Indian Social Media App ShareChat Gets $244 Million in Funding

The world of social media is quite cluttered, and a lot of people believe that the market has become so saturated that there is simply no room for any other platform to rise and give the ones that are already established a little bit of competition in this particular area.

However, people that say that the world of social media has reached a saturation point are not counting for the fact that India is one of the world’s biggest economies, and the fact of the matter is that it is an emerging economy which means that there is an enormous untapped market there, one that Silicon Valley investment firms are starting to take a real interest in.

A good example of an Indian startup that has started to achieve some real traction on a global scale can be seen in the case of ShareChat, and Indian social media app that has an edge over other platforms in that it specializes in providing users with a social media experience that can be received in their own regional language.

While Facebook and other social media platforms do provide multiple language options, the fact of the matter is that localized dialects and regional languages are quite common in India, which gives ShareChat an edge that was previously not considered to be possible.

ShareChat has now completed its fourth round of investments, with the total money being raised coming up to $244 million dollars and an overall company valuation of over $650 million. Twitter is one of the main investors in this Indian social media app, with the social media platform stating that they share a common goal with ShareChat, one that involves sparking conversations among people and bringing people together on the internet.

This is just one of the many examples of Indian startups that are staking to receive hundreds of millions of dollars in funding from Silicon Valley.

Screenshots: App Store.

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