A number of online news and publishing platform covered a report around ShareChat’s latest funding round of $40 million from existing investors – claiming that the company will deploy the fresh funds to scale its new TikTok-like video offering called Moj. But ShareChat has denied all reports regarding this development.
A number of media platforms also claim that the news around this latest funding round for the ShareChat is true since the company last month shared that it is seeking a $200 million investment following the ban of 56 Chinese apps – as reported by the Economic Times on 1 July.
The reports also highlighted that ShareChat was seeking a valuation of $600-700 million in the latest round of funding, one of the people cited above said on condition anonymity. The company was valued at around $460 million when it last raised money in September.