ShareChat CCO Ajit Varghese resigns, to leave company in January

Varghese and ShareChat did not respond to ET’s request for a comment.

Varghese joined the company in 2020 as its CCO. He was pivotal in expanding the platform’s revenue efforts and building a monetisation approach with content partnership. He also spearheaded its marketing functions. He had been reporting to Farid Ahsan, cofounder at ShareChat.

ShareChat has 180 million monthly active users and has more than 32 million creators. The average daily time spent by a user on the platform is 31 minutes. According to its website, the platform witnesses more than 2.5 billion shares per month. Per month, the platform sees more than 75 million user generated content.

In June, ShareChat had announced a fundraise of $520 million from Google, Times Group and Temasek via multiple tranches. The round helped the company hit a valuation of $5 billion. The funding followed ShareChat parent entity Mohalla Tech’s acquisition of MX Media-backed MX TakaTak.

MX TakaTak was owned by Times Internet Ltd (TIL), the digital arm of the Times Group which also publishes this newspaper. TIL also has a stake in ShareChat.

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Less than a month ago, ShareChat was in the news for firing about 5% of its employees due to the closure of its fantasy gaming vertical Jeet11. The company employs over 2,500 people, according to its website.