SHAREit Group, a global internet technology company, concludes the year by recapping its tremendous growth, accolades, and successes for 2022. This includes its prestigious ranking as No.4 media source globally in volume and power rankings in non-gaming categories, No.7 in all categories on the In-App purchases (IAP) index and No.8 on the global retention index across all categories for driving huge volumes. In the Middle East, SHAREit ranks amongst the Top 3 on the Retention index and retains its position amongst the top 5 on the IAP index – marking a pivotal point in the company’s impressive financial and entrepreneurial growth over the past year.
In the fiscal year 2021-2022, the company achieved 220% revenue growth, expanding its business network to expand to 150 countries and regions as well as 45 languages. This rapid growth prompted a move to prioritize its innovation efforts around growth opportunities in globalmarkets like Southeast Asia, South Asia, Africa, Middle East, Europe, Latin America etc.
These growth statistics propelled SHAREit to achieve three-fold revenue growth through its advertising platform which is pivoting to address the needs of global clients in multiple fields. SHAREit works with more than 700 global advertisers to help them with awareness campaigns, user acquisition and seamless user monetization via extensive audience networks. This is also reflected in the company’s customer base, which has witnessed a year-on-year growth rate of approximately 30% in 2022 – underlining sustainable long-term growth and performance.
Arunabh Madhur, Regional VP & Head Business EMEA at SHAREit Group said: “The Middle East market continues to illustrate its resilience, and as we prepare for a new year, we celebrate SHAREit’s remarkable achievements in the past 12 months. Our revenues have surpassed expectations, and we anticipate this continuous growth year-over-year as we increase value-added offerings for clients and focus on growth verticals like e-commerce, fintech, retail, banking, foodtech and travel.”
Accelerating towards a sustainable future
Sustainability is closely aligned to, and is a positive enabler of SHAREit’s strategic objectives and its business strategy. During 2022, the company increased its focus on its sustainability journey, and continues to build on sustainability actions through a combination of focused initiatives and continuous improvements. With the use of near-field transmission technology, its flagship app SHAREit app is helping users worldwide reduce carbon emissions by 20,000 tons per day compared to using 3G network, which is equivalent to planting more than 1 million trees.
In addition, SHAREit has also participated in Climate Impact X (CIX), a global exchange for quality voluntary carbon credits that helps companies discover, compare, purchase, retire and report their carbon credits.
One App, Many Solutions
SHAREit consolidates all the files of the phone under one umbrella and helps users manage them in a more convenient and seamless way. In 2022, SHAREit took transformative steps to optimize the mobile experience and enable users to be more productive by introducing new tools to its file sharing application. Besides the high-speed file sharing feature, SHAREit also has features such as Phone Cleaner, Phone Booster, Battery Saver, and File Manager which help boost mobile smartphone performance when playing games.
“With robust technology advancement and the proliferation of smart devices, SHAREit has positioned itself to capture a part of this growth. We will continue to strive to be the industry leader in global expansion, while providing our user base with an outstanding mobile experience.” concludes Madhur.