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Indian social media startup ShareChat, backed by Twitter, Tiger International and Temasek, is shutting down its fantasy sports activities platform Jeet11 and has laid off some staff.
Individuals acquainted with the matter instructed TechCrunch that the startup despatched an e-mail to its affected staff final month. The platform was operational on the time of writing.
ShareChat confirmed to TechCrunch that it’s ceasing the operations of Jeet11 and has laid off lower than 5% of its staff as a result of determination. The startup has a complete workforce of round 2,300 staff, suggesting that the transfer impacted over 100 folks.
“As a regular enterprise follow, we periodically consider our methods. We are able to affirm that we’re ceasing operations of Jeet11 and have reorganized a few of our features, which meant motion of this expertise inside groups and some worker exits. This course of has impacted lower than 5% of our staff,” a ShareChat spokesperson stated in a ready assertion.
“We proceed to concentrate on sturdy progress and hiring throughout numerous features and roles as per our plans. To succeed as India’s fastest-growing social media firm, we assess our technique often and make vital modifications to attain our imaginative and prescient.”
Quietly launched in 2020, Jeet11 was ShareChat’s try to tackle the likes of Dream Sports activities and Cellular Premier League.
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