Short video-sharing app Chingari generated a revenue of $10 million in the financial year 2022-23, registering a whooping 56.25 per cent jump as compared to last year. During the previous fiscal year 2021-22, the company had generated a revenue of $6.4 million.
Chingari in a statement said the company’s revenue streams were strengthened by the substantial contributions of its subscription plans and NFT Marketplace.
Sumit Ghosh, CEO and co-founder of Chingari, said, “Our achievement of $10 million in revenue for the fiscal year 2022-23 is a remarkable milestone for us. We remain committed to providing our users with the best possible experience and continuing our efforts to innovate and grow as a company.”
For the next fiscal year, as part of its growth strategy, Chingari is focusing on expanding its presence in new markets to attract more users and increase its global reach. To achieve this goal, the company is giving priority to entering emerging markets such as Africa, and is also planning to launch in Europe and Latin America.
Chingari’s remarkable success has been driven by its ability to provide an engaging and user-friendly platform, which continues to attract a growing number of users, investors, and content creators. Recently, Aptos made an equity investment in the Chingari app with the fresh capital to be used for user growth, product development, ramping up engineering and global expansion.
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