India's ShareChat raises $266 million for valuation of $3.7 billion
Information about India's ShareChat raises $266 million for valuation of $3.7 billion
Kevin David Scam or Legit
By Aditya Kalra
NEW DELHI (Reuters) – Indian content-sharing platform ShareChat on Thursday said it had raised $266 million in fresh funding from U.S.-based Alkeon Capital and some existing investors, pushing its valuation to $3.7 billion.
The new investments, part of ShareChat’s third funding round this year, was led by Alkeon and saw participation from Singapore’s Temasek Holdings and Moore Strategic Ventures, among others, the company said in a statement.
Reuters is first to report the fund raising.
ShareChat raised $145 million in July from Temasek and others at a valuation of around $3 billion.
Indian content-sharing and short-video apps have become popular since New Delhi last year banned ByteDance’s TikTok and some other Chinese apps …