ShareChat Names Google’s Neha Markanda As Chief Business Officer

SUMMARY

Neha Markanda will be stepping into Gaurav Jain’s role, who quit ShareChat in June

In her new role, Markanda will lead the company’s revenue strategy, boost growth and foster ties with stakeholders across India

Bringing more than 22 years of experience, Markanda has previously served as Facebook’s head of business marketing for three years

Social media unicorn ShareChat has onboarded Google’s head of industry and ecommerce Neha Markanda as chief business officer for both its ShareChat and Moj platforms.

Markanda will be stepping into Gaurav Jain’s role, who quit ShareChat in June.

In her new role, Markanda will lead the company’s revenue strategy, boost growth and foster ties with stakeholders across India, ShareChat said in a statement.

Earlier, she spearheaded Google India’s health strategy while also driving business transformation and AI-led solutions in both retail and health tech.

“Neha Markanda’s expertise at brand building, deep understanding of problems that marketers face, the way brands measure return on spends, and proven ability to deliver business growth make her an invaluable addition to our leadership team,” said ShareChat cofounder Ankush Sachdeva.

Bringing more than 22 years of experience, Markanda has previously served as Facebook’s head of business marketing for three years. Her career also spans roles in GSK Consumer Healthcare India, HCL Technologies and ITC Limited, among others.

“I look forward to working with the talented teams here to further enhance our offerings and support the business growth ambitions of our partners…,” said Markanda.

Founded in 2015 by Sachdeva, Bhanu Pratap Singh and Farid Ahsan, ShareChat is a social networking platform which provides space to share multilingual content in India. Its parent company, Mohalla Tech, also owns TikTok alternative Moj.

Notably, in 2023, Singh and Ahsan exited the startup, however, they continue to be its board members.

ShareChat’s Key Leadership Transitions & AI Advancement

In December last year, ShareChat roped in former TikTok executive Nitin Jain as its new chief technology officer (CTO). Jain brought more than 25 years of experience across sectors such as fintech, advertising and data analytics.

It was followed by two senior executives at ShareChat, Anurag Verma and Shashank Shekhar, resigning from their positions, sources close to the development told Inc42.

Earlier this year, ShareChat launched its first AI centre of excellence in Southeast Asia in Singapore. It was the startup’s third such facility in the AI space outside India, after the US and the UK.

In October last year, the startup’s parent entity launched a social media app ‘Vibely’ to connect with new users.

It also raised $65 Mn in debt funding from EDBI, Lightspeed, Temasek, Alkeon Capital, Moore Strategic Ventures and HarbourVest amid a funding crunch last year. ShareChat raised these funds by issuing convertible debentures.

On the financial front, ShareChat saw a 33% increase in operating revenue to INR 718 Cr in FY24 from INR 540 Cr in the previous fiscal year. It also saw a 67% drop in its adjusted EBITDA loss to INR 793 Cr from INR 2,400 Cr in FY23.