CIOInsider India Magazine
ShareChat Bets Big on IPL and the International Cricket Council Twenty20 World Cup
ShareChat, a local language social media platform, is betting big on cricket as a sub-category, starting with the Indian Premier League and the International Cricket Council Twenty20 World Cup season.
Audio chatroom sessions with players like Virender Sehwag, Ravichandran Ashwin, Gautam Gambhir, Shikhar Dhawan, Ajit Agarkar, and Akash Chopra will help with this.
ShareChat created and assisted its creators with the monetization of a live audio product called Chatrooms, which was released in April 2020. As of June, it claimed to have over one billion minutes of monthly streaming on the site.
Within three months of raising $ 502 million at a valuation of $ 2.1 billion, ShareChat has climbed to a valuation of $ 3 billion. Tiger Global, Lightspeed, Snap Inc, and Twitter all contributed to the latter purchase.
The company appears to perceive the additional funds raised during the Series F round as a confirmation of its market leadership and a reflection of investors' faith in its execution ability. Furthermore, it is truly pleased of what Moj and ShareChat have accomplished in the past year. Moj's monthly active user base has reportedly expanded to 160 million, while ShareChat's has reportedly increased to 180 million.
“During the IPL, we saw users create chatrooms around the games, and they were debating matches nearly in real time. There was commentary on what was going well and what was not, and it felt like we were all watching the action together. They were also debriefing after the game. As a result, this was something that happened on its own”, adds Shekhar.
Shekhar stated that the platform intends to promote sports as a category, with cricket leading the way. People celebrating birthdays together at midnight, hosting talent showcases, and celebrities are all popular topics in chatrooms. These are also generating a lot of buzz on the platform.
The recent CricChat sessions featuring Virender Sehwag, Shikhar Dhawan, and Gautam Gambhir had a combined audience of over 600,000 users.
“During the IPL, we saw users create chatrooms around the games, and they were debating matches nearly in real time. There was commentary on what was going well and what was not, and it felt like we were all watching the action together. They were also debriefing after the game. As a result, this was something that happened on its own”, adds Shekhar.
