With improved financial metrics, the company expects to start investing back into growth and is on “active” lookout for inorganic opportunities through acquisitions. Organic growth will happen through the expansion of the user base and increasing revenue per user. Sharechat has social media brands such as Sharechat app and Moj under its portfolio.
While the company is sufficiently capitalised for now, it is looking at “adding more people to cap table ahead of preparations for IPO journey”. It is eyeing timelines of 18-24 months for a possible IPO, depending on market conditions.
“We will try and do one more funding round before we do IPO…possibly next year… but we don’t need capital so we will time it based on interest in the market,” Manohar Singh Charan, chief financial officer, Sharechat and MOJ said at a briefing.
Sharechat said it has posted a 33% YoY growth in revenue to Rs 718 crore in FY24. This is up from Rs 540 crore it clocked in FY23.
“Sharechat also made significant strides in reducing losses as adjusted EBITDA losses fell by 67% from Rs 2,400 crore in FY23 to Rs 793 cr in FY24,” the company said in a statement.
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Sharechat is expecting EBITDA losses for FY25 to be nearly one-third of FY24 and the consolidated business to start generating positive cash flow by early FY26.
For FY24, Sharechat’s advertising revenue registered a growth of 23% YoY, touching Rs 315 crore “despite a challenging macroeconomic landscape”. The livestreaming segment recorded a 41% YoY uptick to Rs 402 crore for the fiscal year 2024. The surge was driven by continued growth momentum in paying user count across both Sharechat and Moj platforms, the company said.
