Two co-founders of the social media platform ShareChat, Bhanu Pratap Singh (CTO) and Farid Ahsan (COO) have stepped down from their active roles in the company after eight years stint. 

In an internal note to employees, company’s third co-founder and CEO, Ankush Sachdeva jointly said, “Bhanu & Farid believe that all the critical business functions they own are now in steady hands and have decided to step down from their active roles in the company. They would, however, continue to be a guiding force for the company and stay on the board.”

Sachdeva added that the company has onboarded several senior leaders in Engineering, Finance, HR and Content Ops in the last few months. Going ahead, many of the responsibilities held by Bhanu and Farid ShareChat’s CFO Manohar Singh Charan and SVP Engineering Gaurav Bhatia will lead the management and engineering roles respectively at ShareChat, according to a company spokesperson. 

“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. ShareChat would not be today the company it is, without their contributions. They will continue to be a part of the ShareChat family with both Bhanu and Farid remaining on the board,” the spokesperson added. 

Earlier this month, Mohalla Tech, the parent company of ShareChat and Moj, laid off 20 per cent of its workforce (about 400 employees) in an attempt to “sustain through macro headwinds.” The company also recently shutdown its real money gaming platform Jeet11, resulting in job loss for 5 per cent of its team.