This short video making platform fired 50 percent of its employees


New Delhi (Best Hindu News): Home-grown short-video making platform Chingari has laid off over 50 per cent employees in just two months in its second round of hiring amid funding crunch.

The company’s latest round of layoffs has affected employees across product, customer support, design and marketing teams, reports leading startup news coverage portal Inc42, citing sources. When asked, Chingari did not immediately respond to the report.

According to the report, the short-video making platform has also asked some of its employees to “take a salary cut of up to 50 per cent to cut down on their expenses”. The startup aims to raise funding, but is “stuck in the due diligence process for a long time.” Chingari reportedly now has around 50-60 employees left.

In June this year, Chingari had laid off 20 per cent of its workforce as part of organizational restructuring. In a statement, a company spokesperson has said that this is one of the most difficult decisions for our management and we understand that they will have an impact on our employees.

We are recognizing their contribution and dedication by offering a severance package equivalent to two months’ pay to assist affected employees during this transition, the spokesperson said. The layoffs at Chingari came after its co-founder Aditya Kothari left the startup recently. Earlier this month, the platform announced that the app had crossed 100 million downloads on the Google Play Store.

100 million downloads is a testimony to the trust our users have in Chingari. Chingari Mining, including Chingari Live Rooms, Subscriptions and Creator Cuts, has provided multiple revenue opportunities to our users with a host of features, Sumit Ghosh, Founder and CEO of Chingari Company, said in a statement.

Currently, the Chingari app is available in 16 languages ​​and has over 5 million daily active users (DAUs) and 40 million monthly active users (MAUs). In October 2021, Chingari raised over $19 million for its token round through over 30 venture funds and individual investors.

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