Mohalla Tech Pvt., operator of social network ShareChat, short-video platform Moj and subscription-based micro-drama app QuickTV, is seeking to raise as much as $400 million from a public market listing planned for next year. According to reports from Bloomberg News, the company has become operationally profitable in Q1 FY27, with Chief Financial Officer Manohar Charan confirming that "our unit economics has now turned positive." The IPO plans are not final and could change, as reported by Bloomberg News. Charan told The Economic Times that "We will aim to list over the next four or five quarters." This financial turnaround and the planned listing represent a significant pivot for the company, which spent the last few years executing aggressive cost-cutting measures and employee layoffs as venture funding evaporated following the Covid pandemic.
Annual revenue at ShareChat, backed by LightSpeed and Tiger Global, has already crossed ₹1,000 crore ($105 million) and is running at an annualized pace of as much as ₹1,400 crore, with growth exceeding 30%. As reported by The Economic Times, the company has achieved annual revenues exceeding ₹10 billion rupees ($105 million). The profit and planned listing mark a significant reversal for the firm that spent recent years cutting costs and laying off staff as venture funding dried up after the Covid pandemic. According to Bloomberg, ShareChat reported operating revenue of ₹723 crore in FY25, largely flat from ₹718.1 crore in FY24.
ShareChat estimates its platforms currently serve about 65 million monthly micro-drama viewers, representing about two-thirds of the Indian audience for the format. According to Bloomberg News, users of ShareChat and its family apps are watching more than 700 million micro-drama episodes every day. The mobile-first format is expected to grow at a compound annual growth rate of 31% to $4.5 billion by the end of 2030, according to venture fund Lumikai. ShareChat and Moj together have about 150 million monthly active users while QuickTV has 3 million subscribers. The subscription platform QuickTV, which features short episodic content often lasting just 60 seconds, has seen explosive traction and has already crossed 3 million paid subscribers.
Artificial intelligence already powers content recommendations, moderation, advertising and personalized content at ShareChat, and it's now also helping lower the cost of producing micro-dramas. As reported by Bloomberg News, ShareChat will ramp up its in-house generative AI studio, with the technology expected to help the company expand margins by 5% to 7% over the next two years. The platforms have carved out a following among India's smaller towns and cities, where regional language content serves as a key differentiator from Meta Platforms Inc.'s social apps. The proposed IPO, if successful, would rank among the largest consumer-tech listings in India in recent years.
