“People called our Hindi memes ‘chillar content.’ I thought, if so many young Indians are enjoying it, why not give them what they want instead of trying to change their tastes?”
(News Trust of India) : ShareChat, a social media platform, was co-founded in 2015 by Ankush Sachdeva, Farid Ahsan, and Bhanu Pratap Singh from IIT-Kanpur. Now based in Bengaluru, it boasts over 180 million monthly users and has investors like Twitter and Snap. After India banned TikTok last year, ShareChat launched Moj, its own short-video platform, which now has 160 million users. In April, ShareChat raised $502 million, valuing the company at $2.1 billion. The founders want it to be known as an algorithm-based social media company.
The Beginning
Ankush Sachdeva recalls that the journey started in 2012 when he met his co-founders at a Yahoo Hackathon at IIT-Kanpur. Although they built several products during college, none worked. But while experimenting, Ankush noticed that people in Facebook groups were sharing content and phone numbers randomly. This gave them the idea for ShareChat, which officially launched in December 2014. At first, it was a public chatroom focused on different interests like fan clubs and exam prep. Over time, they realized that people mostly wanted content, not deep conversations. So, they pivoted to offering a content feed without any English, which boosted their metrics.
Early Challenges
When ShareChat finally found its product-market fit, people were using it to share viral content. A small team was working on improving the algorithm, which helped increase time spent and retention. Despite skepticism from investors, the team stuck with the algorithm-focused approach, which paid off in the end.
Make or Break
The founders skipped campus placements and lived with little money in Mumbai. They stayed with Prateek Shukla, who co-founded the no-broker platform Grabhouse. With just ₹10 lakh left and only two months of runway, they pivoted from their first app, Opinion, to ShareChat. Fortunately, they secured funding and perfected their product at the same time.
The Business Model
For ShareChat, growing its daily users (DAUs) was key. Revenue comes later for social networks, but consistent growth helps secure income. They found that having diverse content and a strong algorithm to match it with users improved retention and time spent on the platform. Initially, the business focused on two groups: content creators and consumers. Now, with advertisers involved, they’re expanding.
Tech and HR Challenges
In 2015, before Jio’s arrival, the main challenge was delivering content on slow 2G networks. They built a system based on WhatsApp, as it was the only reliable app on users’ phones. Later, when Jio made fast internet common, the focus shifted to personalizing the content experience through AI.
Hiring the right talent was another challenge. Since few in India had worked on similar tech projects, the team recruited people from related fields like e-commerce. Building the AI team quickly became a priority after Moj launched during the pandemic.
Dealing with Investors
ShareChat’s conversations with investors were often tough. Investors questioned the relevance of the platform, dismissing it as “chillar content.” Ankush argued that if millions of young Indians wanted it, the platform should focus on that demand rather than dictating what content should be. In the end, ShareChat’s rapid growth convinced investors.
Sales & Marketing
Marketing and sales were never the core drivers of ShareChat’s business. Sales mainly came from advertising, a strategy they’ve only pursued recently. The focus has always been on keeping customer acquisition costs low and generating enough revenue to cover those costs.
Defining Success
Success became clear when ShareChat removed English from the app and simplified the user experience. They saw a huge spike in user activity, confirming they had finally found the right product-market fit.
Future Goals
ShareChat aims to reach 1 billion monthly users by 2025, with plans to help millions of Indians express themselves creatively. Their AI algorithm will ensure that everyone’s content finds the right audience. They’re also aiming for $1 billion in revenue by that time, with a strong focus on AI technology.
