ShareChat is likely to bring two new investors on board.ShareChat has been founded by IIT-Kanpur alumni Ankush Sachdeva, Farid Ahsan and Bhanu Singh in October 2015. “In the last two quarters the number of daily active users on the platform has increased from 1 million to 5 million with zero marketing,” said the second source mentioned above.ShareChat co-founder Ahsan declined to comment when contacted by ET and did not reply to an email query. Some other companies which are raising capital in quick succession include food delivery application Swiggy.Several digital media companies which have recently raised funding till now or are in talks to raise funding include Dailyhunt and Newsdog, which have seen interest from Alibaba and Tencent, respectively. Messaging application Hike already counts SoftBank, Tencent and Foxconn as investors.The startup is aiming to double its base of daily active users to 10 million and go deeper into micromarkets, including the Northeast region, before it begins working on monetising its service in 2019. At present, an average user spends about 17 sessions on the application per week.

Source: Economic Times May 07, 2018 02:37 UTC