ShareChat parent earns Rs 25.8 crore

BENGALURU: Mohalla Tech, the owner of ShareChat, reported Rs 25.8 crore of revenue for the fiscal year ended March 2019, regulatory filings show. This entire income came from what the company called “other income”, as it reported no revenue from operations.

The startup has been fighting a bruising battle with China’s ByteDance for market share and user engagement. Loss swelled 12-fold to Rs 415 crore. Employee expenses have risen more than threefold to Rs 292 crore, while other expenses increased nearly 16 times to Rs 410 crore, the filings showed. The firm is expected to step up its monetisation plan this year and, aside of advertising, may look at ways to facilitate commerce on its platform.


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