“Today, we shared internally that I’ll be moving on from ShareChat and Moj in the coming weeks,” Jain said in a LinkedIn post on Monday.
Jain, who heads ShareChat’s monetisation efforts across functions, joined the company in 2022. Prior to this, he held leadership roles in companies like Google, Meta and Snapchat.
Jain’s departure will mark the third high-profile exit from ShareChat this year. On February 20, ET reported that Anurag Verma, the company’s head of people and culture and Shashank Shekhar, senior director of content strategy and operations, left the company.
In an interaction with ET, cofounder and chief financial officer Manohar Singh Charan said that Jain is currently serving his notice period and is in the process of finding his replacement.
“At a leadership level, this was discussed some time back, and we had kickstarted the process for finding his replacement, and that is at a very advanced stage now,” said Charan.
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The departures also come amid a period of workforce reductions at the Google-backed company. On January 16, ET reported that ShareChat had laid off around 30-40 employees, or 5% of its workforce, as part of cost-cutting measures and was aiming to reduce its employee count to 500 by March 2025.Prior to that, in August, it let go of about 40 employees following a $16 million debt financing round led by Singapore-based EDBI.
Founded in 2015 by Ankush Sachdeva, Bhanu Pratap Singh, and Farid Ahsan, ShareChat competes with platforms such as Instagram and YouTube. In 2023, Singh and Ahsan left the company to launch General Autonomy, an industrial robotics startup that secured $3 million in funding from India Quotient and Elevation Capital in November of that year.
For the fiscal year ended March 2024, Mohalla Tech, the parent company of ShareChat and Moj, reported an operating revenue of Rs 718 crore.
