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SuperShare to shut shop, return capital
Mint Mumbai
|July 24, 2023
SuperShare, the content sharing platform, which had secured capital from investors, including Accel and Lightspeed, is heading toward a shutdown, according to two people familiar with its plans.
The firm has also decided to return the capital it raised to its investors just 12 months after it successfully raised the series A funding. In July 2022, SuperShare raised $6.5 million from Lachy Groom, Accel India and Lightspeed, and Tanmay Bhat, MythPat and influencer management agencies in India, the company had said back then.
The development gains significance, with more and more early-stage startups grappling with high burn rates, financial depletion and a looming threat of closures.
In 2020, SuperShare's parent had secured $1.6 million in around led by Accel India and Lightspeed.
This story is from the July 24, 2023 edition of Mint Mumbai.
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