Short video app Chingari has laid off 20% of its workforce, or about 50 employees, in an "organisational restructuring", the company said on Tuesday.
"We deeply regret the need for these workforce reductions of 20% as a part of Chingari's organisational restructuring," a Chingari spokesperson said in a statement.
"These were one of the toughest decisions for our management, and we understand the impact they have on our employees. We are appreciative of their contributions and commitment to Chingari."
The layoffs come barely a month after the company's Chief Executive Officer Aditya Kothari resigned from the organisation.
Life update : Chingari is about to become my old flame.
The tiny sparks that flew a few years ago have now turned into a formidable blaze of 170+Mn users, and the time has come for me to hand over my torch.(1/5)Earlier in February, the social media app had also raised an undisclosed amount from blockchain company Aptos Labs.
Its last known valuation was around $500 million after it raised $15 million, or about Rs 112 crore, in an extended funding round led by Republic Capital in January 2022.
Chingari claims to have over 17 crore lifetime users, with over 50 lakh daily active users and four crore monthly active users. It competes with Josh, Roposo, and Moj in the homegrown short video apps space.
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