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{{Short description|Indian Multinational Technology Company}}
{{Use Indian English}}
{{Use dmy dates}}
{{Infobox company
| name = Mohalla Tech
| logo =
| logo_size = 120
| screenshot =
| caption =
| location = [[Bangalore]], [[India]]
| founder = {{plainlist|
*Ankush Sachdeva
*Bhanu Pratap Singh
*Farid Ahsan}}
| industry = {{plainlist|
*[[Internet]]
*[[Social network advertising]]
*[[Social Media]] }}
| products = {{plainlist|
* [[ShareChat]]
* [[MX TakaTak]]
* [[Moj]]
}}
| services =
| assets =
| equity =
| type = [[Privately held company|Private]]
| traded_as = [[Mohalla Tech]]
| foundation = {{Start date and age|2015|1}}
| incorporated =
| area_served = [[World|Worldwide]]
| key_people = {{plainlist|
*Ankush Sachdeva<br>([[CEO]])
*Manohar Singh Charan<br>([[CFO]])
*Amit Zunjarwad<br>([[Chief product officer|CPO]])}}
| revenue = {{increase}} US$5 billion (2022)
| operating_income =
| net_income =
| num_employees =
| website =
}}

'''Mohalla Tech''' is an Indian [[internet]] [[technology company]], headquartered in [[Bangalore]], [[India]]. Mohalla Tech developed applications such as [[ShareChat]], Moj and Moj Lite + (TakaTak). It acquired MX TakaTak, a short video platform in February 2022.<ref>{{Cite web |title=ShareChat's Moj and MX Taka Tak will soon be one short video app |url=https://indianexpress.com/article/technology/tech-news-technology/sharechat-moj-buys-mx-taka-tak-7767385/ |access-date=16 November 2022 |website=The Indian Express |language=en}}</ref><ref>{{Cite web |agency=TNN|title=MX TakaTak, Moj to merge - Times of India |url=https://timesofindia.indiatimes.com/business/india-business/mx-takatak-moj-to-merge/articleshow/89492404.cms |access-date=16 November 2022 |website=The Times of India |language=en}}</ref> The current valuation of the company is $5 billion.<ref>{{Cite web |author=John Sarkar|title=ShareChat closes $520 million round at $5 billion valuation - Times of India |url=https://timesofindia.indiatimes.com/business/startups/companies/sharechat-closes-520-million-round-at-5-billion-valuation/articleshow/92259394.cms |access-date=12 October 2022 |website=The Times of India |language=en}}</ref>

== Foundation and history ==
Mohalla Tech Pvt Ltd was incorporated in January 2015 by three IIT Kanpur graduates: Ankush Sachdeva, Bhanu Pratap Singh and Farid Ahsan.<ref>{{Cite web|url=https://www.hindustantimes.com/tech/iit-k-alumni-made-sharechat-app-wields-local-languages-to-challenge-facebook/story-7GFHg4yytjmD5NJkF16X3O.html|title=IIT-K alumni-made ShareChat app wields local languages to challenge Facebook|website=Hindustan Times|access-date=19 August 2019}}</ref> The company is headquartered in Bengaluru, Karnataka, and presently employs over 2500 people.<ref>{{Cite web|title=ShareChat hires back half of laid-off employees, expected to add another 150-200 in six months|url=https://economictimes.indiatimes.com/tech/internet/sharechat-hires-back-half-of-laid-off-employees-expected-to-add-another-150-200-in-six-months/articleshow/77528292.cms|access-date=1 September 2020|website=The Economic Times}}</ref>

Initially, ShareChat primarily worked as a content sharing platform, without any scope of users generating their own content. In April 2016, ShareChat enabled [[user-generated content]] creation on its platform, allowing its users to share their own posters and creative content. At around the same time, it also introduced open tagging for users, which would allow anyone to create their own hashtags depending on the content.<ref name="nie7May2018">{{Cite web|url=http://www.newindianexpress.com/lifestyle/tech/2018/may/07/sharechat-announces-private-messaging-shake-n-chat-open-tagging-on-its-platform-1811349.html|title=ShareChat announces 'Private Messaging', 'Shake-N-Chat', 'Open Tagging' on its platform|website=The New Indian Express|access-date=18 April 2019}}</ref>

In January 2023, Farid Ahsan and Bhanu Pratap Singh stepped down from their respective roles as Chief Operating Officer and Chief Technology Officer.<ref>{{Cite news |title=ShareChat cofounders Farid Ahsan and Bhanu Pratap Singh to step down |work=The Economic Times |url=https://economictimes.indiatimes.com/tech/startups/sharechat-founders-farid-ahsan-and-bhanu-pratap-singh-to-step-down-from-active-roles/articleshow/97312212.cms |access-date=2023-06-09 |issn=0013-0389}}</ref><ref>{{Cite web |title=ShareChat's two co-founders step down from active roles |url=https://www.thehindubusinessline.com/info-tech/social-media/sharechats-two-co-founders-step-down-from-active-roles/article66432158.ece |access-date=2023-06-09 |website=www.thehindubusinessline.com |language=en}}</ref> Currently, Manohar Singh Charan (CFO) and Amit Zunjarwad (CPO) are leading the management along with Ankush Sachdeva (CEO).<ref>{{Cite web |title=Meet The MSD Of Finance: Sharechat's Manohar Singh Charan |url=https://www.forbesindia.com/article/newage-cfos/meet-the-msd-of-finance-sharechats-manohar-singh-charan/73995/1 |access-date=2023-06-10 |website=Forbes India |language=en}}</ref><ref>{{Cite web |last=www.ETHRWorld.com |title=Amit Zunjarwad joins ShareChat as Chief Product Officer - ETHRWorld |url=https://hr.economictimes.indiatimes.com/news/industry/amit-zunjarwad-joins-sharechat-as-chief-product-officer/90936282 |access-date=2023-06-10 |website=ETHRWorld.com |language=en}}</ref>
== Acquisitions ==

In March 2019, Mohalla Tech acquired Transversal Tech-owned short video sharing platform, Clip.<ref name="inc">{{Cite web|url=https://inc42.com/buzz/exclusive-clip-gets-acquired-by-sharechat-in-all-cash-deal-to-help-it-fight-off-bytedance-in-india|title=Exclusive: Clip Gets Acquired By ShareChat In All Cash Deal To Help It Fight Off ByteDance in India|website=Inc42 Media|access-date=18 April 2019}}</ref> In February 2020, it acquired Bengaluru-based online fashion marketplace Elanic.<ref>{{Cite web|url=https://inc42.com/buzz/sharechat-acquihires-elanic-to-tap-social-ecommerce/|title=Acquisitions|website=INC42|access-date=25 February 2019}}</ref> In March 2020, it acquired a meme discovery and sharing platform, Memer.<ref>{{Cite news|title=ShareChat buys meme sharing app Memer|url=https://economictimes.indiatimes.com/tech/internet/sharechat-acquires-kae-capital-backed-meme-sharing-app-memer/articleshow/75409607.cms|last=|first=|date=|newspaper=The Economic Times|language=en|url-status=live|archive-url=|archive-date=|access-date=12 May 2020|last1=Laghate|first1=Gaurav}}</ref> In August 2020, it acquired a hyperlocal information platform, Circle Internet.<ref name=":0">{{Cite web|last=Banerjee|first=Prasid|title=ShareChat acquires hyperlocal information platform Circle Internet|url=https://www.livemint.com/companies/news/sharechat-acquires-hyperlocal-information-platform-circle-internet-11598247397522.html|access-date=28 August 2020|website=Livemint|language=en}}</ref> Sharechat parent company also bought MX TakaTak from [[Times Internet]] Group for $700 million in one of the biggest acquisitions of 2022.<ref>{{Cite web |title=ShareChat buys MX TakaTak for USD 700 million - The New Indian Express |url=https://www.newindianexpress.com/business/2022/feb/11/sharechat-buys-mx-takatak-for-usd-700-million-2418103.amp |access-date=13 March 2022 |website=www.newindianexpress.com}}</ref><ref>{{Cite web |last=Sil |first=Debarghya |title=2022 In Review: Startup M&As Surge Amidst Funding Crunch & Downturn |url=https://inc42.com/features/2022-in-review-startup-acquisitions-and-mergers-surge-amidst-funding-crunch-downturn/ |access-date=5 January 2023 |website=Inc42 Media |language=en}}</ref>

== Funding ==
In September 2020, ShareChat raised $40 million from investors Dr. Pawan Munjal of [[Hero MotoCorp]], Ajay Shridhar Shriram of [[Delhi Cloth & General Mills|DCM Shriram]], [[Twitter]], SAIF Partners, [[Lightspeed Venture Partners|Lightspeed Ventures]] and India Quotient.<ref>{{Cite web|title=Twitter-backed Indian social network ShareChat raises $40 million|url=https://social.techcrunch.com/2020/09/24/indias-sharechat-raises-40-million-says-its-short-video-platform-moj-now-reaches-80-million-users/|access-date=25 September 2020|website=TechCrunch|language=en-US}}</ref> By April 2021 ShareChat had raised $500 million from investors and was valued at over $2 billion.<ref>{{cite news |last1=Murgia |first1=Madhumita |title=ShareChat valued at $2bn after India's TikTok ban |url=https://www.ft.com/content/3a5e44e2-b2c0-4f37-9c4a-f51c6ef46eb6 |access-date=3 June 2021 |work=[[Financial Times]] }}</ref> In May 2022, ShareChat raised $300 million from [[Google]], [[The Times Group|Times Group]] and [[Temasek Holdings]] at a valuation of $5 billion.<ref>{{Cite news |last=Vengattil |first=Munsif |title=Google backs India's ShareChat in $300 mln funding round at $5 bln valuation |language=en |work=Reuters |url=https://www.reuters.com/technology/google-backs-indias-sharechat-300-mln-funding-round-5-bln-valuation-2022-05-30/ |access-date=30 May 2022}}</ref>

==See also==
*[[ShareChat]]

== References ==
{{reflist}}

{{uncategorized}}

Mohalla Tech - Revision history

Ananya: Finished writing a new addition.