ShareChat appoints Gaurav Jain as chief business officer
ShareChat and Moj was elevated to a newly created role of CBO on Thursday.
Betting big on the short-form video boom in the country, Jain told ET that he was focussed on helping marketeers understand how to leverage the power of the medium, building the ad business and strengthening ties with digital agencies.
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Offering CollegeCourseWebsiteMITMIT Technology Leadership and InnovationVisitIndian School of BusinessISB Professional Certificate in Product ManagementVisitIIM KozhikodeIIMK Senior Management ProgrammeVisitJain takes over at an important juncture for ShareChat. ET had reported earlier this week that Mohalla Tech, parent of vernacular social media platform ShareChat, clocked a 62% rise in its revenue for FY23 at Rs 540 crore but its losses grew 38% to Rs 4,064 crore, driven by non-cash items such as increased financing costs and impairment of investments in subsidiaries.
«It is high time that marketeers catch up with the consumers,» he said. «That's why our intent now looking into 2024 and beyond is to help the marketeers understand how they can utilize this short form video boom that's happening in the country.»
Company sources said the platforms have a user community of over 325 million Monthly Active Users (MAUs), the video views per month are over 280 billion, the daily average time spent on the apps is over 34 mins and the monthly content pieces created/uploaded are over 165 million pieces.
«We are well on our path to achieve profitability by 2025,» Jain said. «We are already contribution margin positive on ShareChat and the earnings had a very big line item of a goodwill amortization which is not being factored in. Overall, our actual monetary
