{"id":841138,"date":"2024-08-05T09:49:36","date_gmt":"2024-08-05T04:19:36","guid":{"rendered":"https:\/\/telecomlive.in\/web\/?p=841138"},"modified":"2024-08-05T09:49:36","modified_gmt":"2024-08-05T04:19:36","slug":"sharechat-raises-16-million-in-debt-financing-lays-offs-5-of-workforce","status":"publish","type":"post","link":"https:\/\/telecomlive.in\/web\/2024\/08\/05\/sharechat-raises-16-million-in-debt-financing-lays-offs-5-of-workforce\/","title":{"rendered":"ShareChat raises $16 million in debt financing; lays offs 5% of workforce"},"content":{"rendered":"<p>Vernacular social media firm ShareChat has raised an additional $16 million in debt financing through convertible debentures, increasing the total size of its previous debt round to $65 million, the company said on Saturday.<\/p>\n<p>This funding comes as the company has laid off approximately 5% of its workforce, or around 40 employees. The reductions are part of a performance improvement plan (PIP) aimed at streamlining costs and achieving profitability.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Vernacular social media firm ShareChat has raised an additional $16 million in debt financing through convertible debentures, increasing the total size of its previous debt round to $65 million, the company said on Saturday. This funding comes as the company has laid off approximately 5% of its workforce, or around 40 employees. The reductions are part of a performance improvement plan (PIP) aimed at streamlining costs and achieving profitability.<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[59,4,10],"tags":[],"class_list":["post-841138","post","type-post","status-publish","format-standard","hentry","category-it-2-the-economic-times","category-newspapers","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/841138","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=841138"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/841138\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=841138"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=841138"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=841138"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}