July 26, 2021

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Indus leads for ShareChat on $502m unicorn round with AZB, KCo, Gunderson, Cooley, Skadden

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Mohalla Tech, the parent company behind India’s leading short video app Moj and Indic language social media platform ShareChat has become the latest entrant to the Unicorn Club. The company has raised US$502 million in its latest round. With the new rounds of investment, the valuation stands a little over US$2.1 billion. The investment has been led by Lightspeed Ventures and Tiger Global, along with participation from Snap Inc, Twitter and India Quotient amongst others, according to reports.

IndusLaw advised Sharechat and its founders led by a team in Delhi of partners Manish Gupta and Anubha Sital, principal associates Nikita Goyal and Ashish Ahluwalia and associate Rashi Singh.

Sharechat has had new general counsel GT Thomas Phillippe since October 2020.

Gunderson Dettmer Singapore acted for Lightspeed and Tiger with partner Jonathan C Pentzien and associates Jolyn Ang and Soo Guo Kai.

AZB & Partners Bangalore also supported Lightspeed and Tiger.

Snap was represented by Cooley’s Singapore team led by its partner Ferish Patel and associates Miae Woo and Abhishek Banerjee.

Twitter was represented by Skadden’s Singapore team led by its partner Parveet Gandoak.

Also advising Twitter was Khaitan & Co in Bangalore led by its partner Sharad Moudgal and senior associate BN Vivek.

2021-04-08

Deal value: USD 502 million

This deal report is based on a firm’s press release and may be only partially complete. Some firms or names of advisers may be therefore be missing.

Click here if you are working with a law firm that has not been credited for this deal, and we will update the report promptly.

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