Gaurav Jain Steps Down as ShareChat's Chief Business Officer
In the interim, the company's Chief Financial Officer, Manohar Charan, will take over business operations.
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Gaurav Jain, Chief Business Officer of ShareChat, has decided to step down from his position. In the interim, the company's Chief Financial Officer, Manohar Charan, will take over business operations. Charan was recently promoted to the role of Co-founder, marking his growing importance in the company.
Jain joined ShareChat in October 2022. Before this, he worked at Snap as Head of APAC Business Expansion and served for three years as Head of Mid-Market Business at Meta India.
This leadership change comes after a series of key exits in 2023, including ShareChat's co-founders Bhanu Pratap Singh and Farid Ahsan stepping down from executive roles, though they remain on the board. Earlier this year, the company also laid off 5% of its staff during its annual performance review.
Despite internal changes, ShareChat's performance has remained strong. The company reported INR 718 crore in revenue for FY24, up 33% from INR 540 crore in FY23. Advertising revenue also grew 23% year-on-year to INR 315 crore, driven by growth in mid-market and FMCG sectors.
Last year, ShareChat raised USD 65 million through debt funding. Its investors include X (formerly Twitter), Lightspeed, SAIF Partners, and Alkeon Capital.
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