We wrote about Moj in August: it’s one of the short-video apps that launched in the wake of TikTok’s ban in India earlier this year.
By August, Moj – which was a spin-off from social networking company ShareChat – had 50 million users. Now ShareChat has raised $40m of new funding to continue driving Moj’s growth.
News site Entrackr reported the funding (initially as $35m-$40m) suggesting that it’s part of a round that could eventually reach more than $100m.
Another news site, Medianama, followed up the story to nail down the figure as $40m, as well as a couple of new stats for Moj: 80 million monthly active users, who average 34 daily minutes in the app.
Also noteworthy: ShareChat told Medianama that it plans to use the funding for product development, growing Moj’s community of developers AND on partnerships with music labels.
Music Ally’s next Learn Live webinar will help you build the strategies for artists to thrive in new international markets!