"The company is looking at a bridge round of around $40-50 million in primary capital," said one of the people mentioned above.
However, a third person close to the founder said it would be a growth equity round as the company is getting closer to breaking even.
"The company has brought down the monthly burn from $45 million in 2022 to around $5 million now. The marketing costs are down by 98%. The revenues are now close to meeting the burn." The company had announced mass lay-offs in January, affecting almost 20% of its workforce. It also shut its gaming division last year and scaled down its social-commerce, live-commerce and fact-checking vertical to contain the burn.
The company's annualized revenue run rate is around $120 million.
A ShareChat spokesperson declined to comment.
この記事は Mint Mumbai の October 05, 2023 版に掲載されています。
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7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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