Forbes India 15th Anniversary Special

Chingari ramps up hiring amid recession fears as Indian Web3-based social media space gathers steam

While many other brands are cutting jobs due to concerns about a global recession, Chingari is surprisingly ramping up hiring

Shashank Bhardwaj
Published: Jan 13, 2023 05:59:56 PM IST

Chingari ramps up hiring amid recession fears as Indian Web3-based social media space gathers steamImage: Shutterstock

With the emergence of Web3, short video app Chingari launched its token "GARI" on the Solana network, enabling users to vote on the platform’s policies and governance.

Now, while tech brands globally are cutting jobs amidst recession concerns, Chingari is ramping up its hiring.

Sumit Ghosh, CEO and co-founder of Chingari, states that the company plans to hire for technical, content, and creative roles. To expand into global markets, the Chingari app has been adapted to the local languages of those regions, and the company will be hiring local staff in those areas. This year, they intend to launch in Latin America and Africa with 400-500 open positions available for hiring.

"Other platforms have raised funds but burned too much too fast without creating any sustainable revenue stream. At Chingari, we have multiple revenue streams like Creators Cuts, where we take some part of sales, Chingari subscriptions, and Creators and users' badges that have helped us create a sustainable revenue stream," says Ghosh.

Chingari remains bullish on the Indian market though, particularly its Web3 community. “We believe 2023 will be a watershed year in terms of web3 adoption in India,” says Ghosh, “where it will witness deeper penetration and the coupling of traditional systems with blockchain technology.“

This is a view echoed by many other homegrown Web3 brands in India, that while it takes some time for blockchain and web3-based content to become mainstream in India, but as these technologies gain more understanding and acceptance, they may become more widespread in the Indian content market. "Early adopters stand a better chance of becoming technology leaders in the space," according to Ghosh.

The Chingari app currently claims a user base of 1.9 million - creators who can monetise their content via the GARI token.

The writer is the founder at yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash

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