SUMMARY
- Mohalla Tech launches Vibely to connect with new users and enhance revenue.
- The app includes a private calling feature to boost user engagement.
- ShareChat is expected to report a revenue of INR 700 crore for FY24.
Mohalla Tech Private Limited, the parent company of social media platform ShareChat and short video app Moj, has launched a new social media application called Vibely aimed at expanding its user base and enhancing engagement. This launch is part of Mohalla Tech’s strategic efforts to mitigate its financial losses and boost revenue.
The introduction of Vibely comes at a crucial time as ShareChat prepares to file its financial statements for FY24. Industry sources indicate that the platform is expected to report a revenue of INR 700 crore, an increase from INR 540 crore in FY23. The new app features a private calling option, emphasizing user privacy and connectivity, which could attract a broader audience seeking a more intimate social media experience.
As the competition in the social media landscape intensifies, Vibely aims to offer unique features that cater to users’ evolving needs while contributing to the overall growth of Mohalla Tech’s portfolio.
Source:- INC42
