ShareChat's Path to Profit: From Loss Minimization to Growth and IPO Ambitions

ShareChat, a homegrown social media firm, reported a significant reduction in adjusted EBITDA losses by 67% to Rs 793 crore in FY24, alongside a 33% revenue growth. It plans a cash breakeven by March 2025, with IPO plans and acquisition opportunities on the horizon.

Homegrown social media giant ShareChat announced a 67% reduction in adjusted EBITDA losses, down to Rs 793 crore for FY24. This development comes amid a 33% rise in revenue, signaling strong financial health in a challenging macroeconomic environment.

The company is aiming for a cash breakeven by March 2025 and is capitalizing on opportunities for future growth through acquisitions and user base expansion. ShareChat's portfolio includes its flagship app and the Moj platform, fueling its revenue ambitions.

As ShareChat eyes an IPO within 18-24 months, Chief Financial Officer Manohar Singh Charan disclosed plans for a potential fundraising round in the upcoming year. Despite a strong capital position, timing will hinge on market interests. Advertising revenue grew by 23% to Rs 315 crore, while livestreaming services soared by 41%, driven by increased paying users.

(With inputs from agencies.)