Listen to the article
SHAREit Group, a global internet technology company, has announced expansion in the GCC region to strengthen its position.
SHAREit Group’s broad-based operating model has enabled its business network to expand to 150 countries and regions as well as 45 languages. The company leveraged its global development strategy to achieve 220% revenue growth in the fiscal year 2021-2022. In order to adjust to the changes and evolving global environment, the company is also taking steps to prioritize its innovation efforts around growth opportunities in multiple markets including the UAE, Singapore, Indonesia, Philippines, Pakistan, Bangladesh and Israel.
Arunabh Madhur, Regional VP & Head Business EMEA at SHAREit Group, said: “We are strategically positioning our company to effectively support our development strategy and increase value-added offerings for clients. Following an upward trajectory of growth in fiscal year 2021-2022, we have formulated a series of actions and plans designed to ensure that our company remains well-positioned and appropriately structured for sustainable, long-term advancement in the technology industry."
“In the new financial year, our focus has been on growth verticals, which includes sectors like e-commerce, fintech, retail, banking, crypto, foodtech and travel. Within the region we are also focussing on growth markets like Saudi Arabia & Egypt. Our objective will be to ensure that we add massive value and growth to our partners with strong performance solutions in the GCC region,” added Arunabh.
The company has driven stellar growth, with the SHAREit app powering its way to the top spots of the recently revealed AppsFlyer rankings for different categories and regions. According to the 14th edition of AppsFlyer Performance Report released in 2022, SHAREit ranked 4th globally in terms of volume and power rankings within non-gaming categories and 7th in In-App Purchases (IAP) index across all categories.
With a renewed focus on its goals, SHAREit Group is aligning its value proposition, strategy and culture to engage the entire ecosystem within which it operates. Its advertising platform 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.
It is consistently supporting brands to drive growth and boost revenue by acquiring a high share of paying users. The company’s advertising platform achieved three-fold revenue growth in the fiscal year 2021-2022. 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.
