ShareChat to monetize user base after two to three years
What's the story
The regional content-based social media platform ShareChat plans to monetize its user base after 2-3 years. Founded by three IIT graduates, ShareChat recently got Series C funding to the tune of $100mn. "Presently we have an active user base of 25mn out of the total of 60mn. We plan to grow it to 100mn," Chief Business Officer of ShareChat, Sunil Kamath, said. Here's more.
Details
Won't charge users, will earn through ads, payment transactions: Kamath
On his plans, Kamath said, "We'll not charge the users but earn through advertisements, payment transactions, and sponsored campaigns." Talking of his user base, Kamath said Telugu clocked the maximum number at 5mn while Bengali was at 2.1mn. "Sharechat doesn't have any English content, but is a purely vernacular-based social media platform in 14 regional languages," Kamath said, adding, it's somewhat similar to Instagram.