Lightspeed and Tiger Global led a $502m Series E funding round in ShareChat.

Lightspeed, a venture capital firm, and Tiger Global, an investment firm, led a $502m Series E funding round in ShareChat, an Indian social media and social networking service. Additional investors include Twitter, an American microblogging and social networking service, and Snap, a camera company. “With this infusion of capital we would continue to aggressively grow our user base. We are at a significant inflection point in our company’s journey — as the internet penetration further deepens in India we are well-positioned to expand our ecosystem of products to 1 Billion+ MAUs cumulatively. We have seen how large the short-video market is in China — with around 80% of the entire Internet population using one of the short-video products daily," Ankush Sachdeva, ShareChat Co-Founder and CEO.