Social media platform ShareChat was in the news this month for laying off 200 employees or 15 pc of its workforce. According to The Economic Times, ShareChat’s parent Mohalla Tech clocked Rs.540 cr in revenue in FY23, a 62 pc increase over the previous year. The Economic Times reported that Indian startups laid off over 28,000 people in 2023, quoting data exclusively shared with the publication by Longhouse Consulting. Gaurav Jain, Head of Emerging Business at ShareChat and Moj, was elevated to a newly created role of CBO in November 2023. He told The Economic Times then that the company is “well on its way to profitability” in 2025.

Source: Mint December 29, 2023 11:11 UTC