New Delhi, June 17 -- Gaurav Jain, the chief business officer of Google-backed short video platform Sharechat that also owns another reels platform Moj, has resigned from his role.
"Today, we shared internally that I'll be moving on from ShareChat and Moj in the coming weeks," said Jain in a LinkedIn post. "The last three years have been some of the most professionally rewarding and demanding of my career-constantly challenging my understanding of users and customers, and pushing me to take tough calls (some right, some wrong)," he added. News website Entrackr first reported the development.
Jain, who had joined ShareChat in October 2022, is likely to leave the startup in July, according to reports. He did not disclose his future plans but said: "I'm going from Bharat to Pan-Asian. More on that soon."
Before joining ShareChat, he was leading Asia-Pacing business expansion for social media platform Snapchat between December 2021-September 2o22. Previously, he was the head of mid-market business at Meta India for 2018 to 2021.
Meanwhile, the startup's chief financial officer, Manohar Charan, who was promoted to the role of co-founder in April 2025, will be leading the business during the transition.
ShareChat last raised $49 million (about Rs 409 crore) in April 2024 by issuing convertible debentures to some of its existing investors. Lightspeed Venture Partners, Singapore state investment firm Temasek, Alkeon Capital, Moore Strategic Ventures and HarbourVest were among those who took part in the round. It was last valued at about $2 billion, according to VCCEdge.
The startup, operated by Mohalla Tech Pvt. Ltd, was founded by Sachdeva, Bhanu Pratap Singh and Farid Ahsan. Singh and Ahsan left the company in 2023.
The company ventured into short-video format after the Indian government banned Chinese app TikTok in 2020. It subsequently acquired Times Internet-backed MX Taka Tak in 2021.
The latest capital raise comes almost two years after the startup secured $300 million in a funding round that valued it about $5 billion. The company, which counts Google and the Times Group as its other investors, has raised more than $1.43 billion from investors across various funding rounds.
In the financial year 2024, it reported a 33% year-on-year growth in consolidated revenue to Rs 718 crore against Rs 540 crore in the year before, on the back of a jump in income from the livestreaming segment.
ShareChat also claimed that the company significantly improved its bottomline as adjusted EBITDA loss narrowed 67% to Rs 793 crore in FY24 from Rs 2,400 crore in the previous year.
Published by HT Digital Content Services with permission from VC Circle.