Virtual gifting feature generates $50 million in revenue for ShareChat

7 Oct 2022 , 11:02 AM

ShareChat’s virtual gifting feature has reached $50 million in annual recurring income, which is expected to more than double by the end of the year. 

Mohalla Tech owns the regional social media platform, which has more than 180 million monthly active users nationwide. In September 2020, the firm introduced the in-app virtual giving option as one of the several income methods it hoped to monetize.  Users can make the hosts or developers of live audio chat rooms feel appreciated by sending them virtual gifts in the form of digital tokens using this tool. 

Over the past year, ShareChat has developed a variety of revenue streams outside of advertising. 

For instance, a “crown” might be worth 50 coins, a “rose” might be worth 25 coins, and a “wah wah” sticker–which means “well done” in Hindi–might be worth 10 coins. ShareChat’s virtual gifting feature has reached $50 million in annual recurring income, which is expected to more than double by the end of the year.