ShareChat co-founders Bhanu Pratap Singh and Farid Ahsan have stepped down from their roles, days after the company fired 20% of its workforce.
"After nearly eight years of building ShareChat to unicorn status and beyond, Bhanu and Farid have chosen to step down from their active roles in the company," a ShareChat spokesperson confirmed to BQ Prime in a statement.
However, Singh—who was also the company's chief technology officer— and Ahsan—who was also the chief operating officer—will continue to stay on the board.
"Many of the responsibilities held by Bhanu and Farid will now rest with Manohar Singh Charan and Gaurav Bhatia, who will lead the management and engineering roles, respectively," the spokesperson said.
This now leaves the current Chief Executive Officer Ankush Sachdeva at the founder level.
The resignations come barely 10 days after Mohalla Tech Pvt., the parent of social networking app ShareChat and the short video app Moj, laid off about 20% of its workforce, equating to about 500 employees.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
