ShareChat’s virtual gifting feature generates $50 million annually

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ShareChat’s virtual gifting feature has reached $50 million in annual recurring revenue, which is expected to more than double by year’s end, according to a senior executive.

Mohalla Tech’s local language social media network has over 180 million monthly active users in the country. It launched the in-app virtual gifting feature in September 2020 as one of the company’s various revenue models. The feature allows users to send virtual gifts in the form of digital tokens to the hosts or creators of live audio chat rooms, making them feel appreciated. “On average, users spend about 30 minutes on the platform, and we have 30 million creators,” ShareChat’s chief product officer Amit Zunjarwad told ET.

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ShareChat’s virtual gifting feature generates $50 million annually

ShareChat’s virtual gifting feature has reached $50 million in annual recurring revenue, which is expected to more than double by year’s end, according to a senior executive.

Mohalla Tech’s local language social media network has over 180 million monthly active users in the country. It launched the in-app virtual gifting feature in September 2020 as one of the company’s various revenue models. The feature allows users to send virtual gifts in the form of digital tokens to the hosts or creators of live audio chat rooms, making them feel appreciated. “On average, users spend about 30 minutes on the platform, and we have 30 million creators,” ShareChat’s chief product officer Amit Zunjarwad told ET.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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