Taaran Chanana, Managing Director and Co-Founder of MemeChat

4 Apr 2022 , 02:47 PM

In an interaction with Mamta Maity, indiainfoline.com, Taaran Chanana, Managing Director and Co-Founder of MemeChat said “As a company, we will continue to focus on building a greater creator economy, innovate our product portfolio, strategically leverage brand partnerships and a lot more.”

The recent funding received by MemeChat is a significant amount. What stands out about this year’s funding.

Continuing its successful run, MemeChat (MC), a next-generation homegrown social media networking app, secured more than USD 1 million in its second round of funding led by Beenext, Singapore-based venture capital firm. The angel investors in this round included Stanford Angels & Entrepreneurs, 9unicorns, Founders Room Capital, Gaurav Munjal, Roman Saini and Abhishek Goyal.

Memechat has experienced exponential growth and an unwavering faith from a strong investor base. Leveraging the dynamism of technology and strong social media community, Memechat has ensured to never fail its growing user base. As a company, we will continue to focus on building a greater creator economy, innovate our product portfolio, strategically leverage brand partnerships and a lot more.

Every company has a core of ideas that becomes the forefront of business. What core idea of the organization do you think struck a chord with the investors?

MemeChat is a community-driven business model. The innovative features on the app, including machine learning, have originated from the rapidly growing meme community. Ultimately, TMC is all about giving meme artists their due. While the average individual gets a chuckle as a token of appreciation for a witty joke, through the trading on NFTs, content creators can generate a sustainable revenue stream by converting their viral memes into highly lucrative NFTs on MemeChat's newly-launched Meme Cl

What concrete plans are set to be implemented with the amount in the coming few months?

MemeChat will continue to strengthen the user base for its newly launched The Meme Club — An NFT Marketplace (TMC), develop its networking app by building tools to easily discover & share memes and build a stronger recall value for MemeChat.

Is there a target or a bullseye that you want to hit before moving on with another round?

Our long term goal is to have a diverse and utmost consumer base pan India to download & use the app to create and share memes along with expanding on our current features. Making our platform one of a kind and the go to place for creating & sharing memes and giving the creators the recognition they deserve. The audience should associate memes with our brand differentiating us from our competitors and always spreading happiness through our app!

Can you throw light on your recent initiatives?

Our past events and campaigns have been very quirky and out of the ordinary which has caught a lot of attention.

This year on Valentine’s Day, the “Rashi Bewafa Hai” meme that took over the internet and became a sensation by trending on the 6th spot on Twitter, got sold as an NFT for 250 matic on MemeChat’s, The MemeClub - an NFT marketplace.

We launched #KeepSmiling, an initiative that aims to extend random acts of selfless giving to the homeless. The ongoing campaign has been encouraging the entire staff including fifty interns to execute the CSR campaign across the nation namely Mumbai, Delhi, Uttar Pradesh.

In a first of its kind initiative to maximize the monetary potential of memes in the blockchain ecosystem, we  launched The Meme Club - a NFT marketplace (TMC). The platform will provide meme creators, collectors, and other interested parties to buy and sell memes globally via NFT (non-fungible tokens).