Short video app Chingari lays off 20 percent of its employees

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New Delhi. Home-grown short-video making platform Chingari has laid off 20 per cent of its workforce as part of organizational restructuring. “This is one of the most difficult decisions for our management and we understand the impact it will have on our employees,” a company spokesperson said in a statement to IANS.

“We will offer a package equal to two months’ salary to assist the affected employees,” the spokesperson said.

In addition, we will ensure that they have three more months of health insurance coverage.

The company said it will provide support such as career counseling and job placement assistance to the affected employees.

Our priority is to streamline processes, boost productivity and align resources to our long-term growth goals, said a company spokesperson.

The layoffs at Chingari, one of the Indian short video apps, comes as co-founder Aditya Kothari quit the startup recently.

As stated in the report released late last year, Chingari has more than 160 million users in more than 15 languages. It had over 5 million Daily Active Users (DAUs) and 40 million Monthly Active Users (MAUs).

Chingari’s crypto token GARI powers India’s only blockchain-based social infotainment platform.

In October 2021, Chingari raised over $19 million for its token round from over 30 venture funds and individual investors.

VC firms that participated in the funding round include Republic Crypto, Galaxy Digital, Alameda Research, Solana Capital, Valor Equity Partners, Kraken, Blackpine, NGC, Coinfund, LD Capital, Borderless Capital, AU21, Culture3 Capital, Long Term Ventures, Afton Capital , csp dao included.

–IANS

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