Gaurav Jain, the Chief Business Officer (CBO) of Indian social media platform ShareChat, has stepped down from his role, as confirmed by company CEO Ankush Sachdeva in an internal update reported by Entrackr.
In a message shared on the company’s Slack channel, Sachdeva acknowledged Jain’s contributions, saying, “Gaurav has played a pivotal role in shaping our Ad Sales and B2B Marketing teams. His steady leadership and thoughtful approach have helped us navigate some tough periods and drive progress.”
Jain will remain with ShareChat until July to ensure a smooth transition. He joined the company in October 2022, bringing with him extensive experience from his previous stints as Head of APAC Business Expansion at Snap and Head of Mid-Market Business for Meta India.
Stepping in during the transition is Manohar Charan, currently ShareChat’s Chief Financial Officer, who has also been elevated to the role of Co-founder. He will oversee the business operations following Jain’s exit.
The leadership shuffle comes amid a year of structural changes at ShareChat. Earlier in 2024, the company laid off 5% of its workforce as part of a performance review process. Despite the downsizing, the company has continued to strengthen its financial position.
In 2024, ShareChat raised $65 million in debt funding in two tranches. Overall, the company has secured around $1.3 billion in funding from major investors, including X (formerly Twitter), Tencent, Alkeon Capital, and Moore Strategic Ventures.
On the business front, ShareChat reported a 29.9% increase in operational revenue, reaching INR 718.1 Cr in FY24, up from INR 552.73 Cr in FY23. Its losses also narrowed significantly, falling by 41.4% to INR 1,898.94 Cr in FY24.
