BENGALURU: Mohalla Tech, the parent company of social media platform ShareChat and short video platform Moj, has shut down its fantasy sports app Jeet11 and nearly 110 employees have been laid off.
As per sources, most of the employees laid off were from non-tech roles. It employs over 2,200 employees.
A spokesperson from ShareChat said, “As a standard business practice, we periodically evaluate our strategies. We can confirm that we are ceasing operations of Jeet11 and have reorganized some of our functions, which meant movement of this talent within teams and a few employee exits.” “This process has impacted less than 5% of our employees.
We continue to focus on robust growth and hiring across various functions and roles as per our plans,” the spokesperson said. To succeed as India’s fastest-growing social media company, we assess our strategy regularly and make necessary changes to achieve our vision, the spokesperson added.
This comes just a week after the parent company of news aggregator Dailyhunt and short-video platform Josh, VerSe Innovation, fired 150 employees- about 5% of its total workforce. ShareChat, the homegrown platform has over 180 million monthly active users.
Meanwhile, US food delivery platform DoorDash, has fired 1,250 people that includes Indian-origin Sri Venkatesh Sankaran. In a LinkedIn post, he said, “DoorDash has let go of 1,250 staff and I was one of them. After 4 years at DoorDash, I never thought I would be impacted during this #layoffs season.”