Highlights
Neha Markanda has recently been appointed as the chief business officer (CBO) of ShareChat, overseeing both its ShareChat and Moj platforms. This appointment comes after Gaurav Jain’s resignation from ShareChat in June, a departure exclusively reported by Startup Superb on June 16.
Leading Revenue and Growth Strategies
In her new position, Markanda will be responsible for driving the company’s revenue strategy while enhancing its growth and reinforcing partnerships with stakeholders across India, as stated in a press release by ShareChat. Previously, she played a key role in shaping Google India’s health strategy and was instrumental in implementing business transformation and AI-driven solutions within the retail and health tech sectors.
Industry Recognition
ShareChat co-founder Ankush Sachdeva expressed confidence in Markanda’s skills, stating that her background in brand development, her understanding of marketing challenges, and her ability to measure returns on investments make her a significant asset to the leadership team.
Extensive Experience in the Industry
With over 22 years of experience in the industry, Markanda had served as the head of business marketing at Meta for three years. Her career also includes notable positions at GSK Consumer Healthcare India, HCL Technologies, and ITC Limited.
Markanda’s Vision
Markanda shared her enthusiasm about collaborating with the talented teams at ShareChat to enhance their offerings and assist in fulfilling the business aspirations of their partners.
Earlier in the year, ShareChat underwent a workforce reduction, laying off 5% of its employees during a performance review cycle. In 2024, the company successfully secured $65 million in debt over two tranches. To date, it has raised approximately $1.3 billion from a range of investors, including Twitter (now X), Alkeon Capital, Moore Strategic Ventures, and Tencent, among others.
Financial Performance
ShareChat’s operational revenue saw an impressive rise of 29.9%, climbing to Rs 718.1 crore in FY24 from Rs 552.73 crore in FY23. Concurrently, the company’s losses diminished by 41.4%, amounting to Rs 1,898.94 crore during the same period.