New Delhi: ShareChat, a leading Indian social media company, announced a significant reduction in its adjusted EBITDA losses for the fiscal year 2024, signaling a move towards profitability and a potential IPO within the next two years.
The company reported a 67% year-on-year decrease in losses, attributed to a 33% growth in revenue, reaching Rs 718 crore. This positive trajectory is fueled by a 23% rise in advertising revenue and a 41% increase in livestreaming revenue. ShareChat’s co-founder and CEO, Ankush Sachdeva, expressed confidence in achieving cash flow breakeven by March 2025, driven by the company’s strong financial performance.
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With a focus on growth, ShareChat plans to invest in expanding its user base and increasing revenue per user. The company is also actively exploring acquisitions to further accelerate its expansion. While ShareChat maintains a strong financial position, it is considering raising additional capital before going public, with a potential IPO timeline of 18-24 months.
