Indian social media startup Chingari witnessed a sharp decline in its operating scale during the financial year ending March 2025 (FY25). The Bengaluru-based platform reported a 53% year-on-year drop in operating revenue, reflecting the impact of its strategic shift from a short-video platform to a paid private live-streaming model. Despite the fall in revenue, the company managed to significantly reduce its losses, indicating stronger cost control during the year.
Revenue Declines Sharply in FY25
According to the company’s financial filings with the Registrar of Companies (RoC), Chingari’s operating revenue fell to ₹44 crore in FY25, compared with ₹92 crore in FY24. The drop represents a decline of over 52–53% year-on-year, highlighting a major contraction in the platform’s business scale during the period.
For perspective, the company had earlier recorded ₹113 crore in revenue in FY23, before undergoing a major transformation in its business strategy. The decline in FY25 reflects the transition period as the startup shifted its platform model and monetisation approach.
The revenue mix also shows a strong contribution from international markets. Export revenue accounted for nearly 72% of the total operating revenue, amounting to approximately ₹31.3 crore, while domestic revenue contributed about 28%, or roughly ₹12.2 crore.
Shift From Short Video Platform to Paid Private Streaming
Founded in November 2018, Chingari initially rose to prominence as a short-video sharing platform similar to TikTok, especially after TikTok was banned in India in 2020. The platform attracted millions of users and positioned itself as one of the leading Indian alternatives in the short-video space.
However, in June 2023, the company decided to significantly pivot its business model. Chingari moved away from the traditional short-video format and introduced a paid private live-streaming platform.
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Under this model, users can engage in one-to-one live interactions with creators. The platform allows users to purchase virtual currency known as “diamonds”, which can be used to access private video calls or exclusive creator interactions.
This shift marked a significant change from its earlier user-generated short-video ecosystem. While the model aims to create stronger monetisation opportunities, the transition appears to have impacted the company’s revenue performance during FY25.
The company has maintained that explicit content and nudity are not allowed on the platform, emphasising moderation and community guidelines.
Cost Optimisation Helps Reduce Losses
Even as revenue declined, Chingari managed to significantly reduce its losses during FY25. The company reported a net loss of ₹8.8 crore, representing a 62% reduction compared with ₹23.3 crore in FY24.
This improvement came largely due to aggressive cost-cutting measures across multiple operational areas. Total expenditure dropped by about 55% year-on-year to ₹52.4 crore, compared with ₹116.3 crore in FY24.
Advertising and promotional spending remained the company’s largest cost component, but it also saw a sharp reduction. Marketing expenses fell to ₹23.75 crore in FY25, down from ₹43.65 crore in FY24.
Employee-related expenses also dropped significantly. Employee benefit costs declined by around 58% to ₹13.4 crore, reflecting workforce optimisation and organisational restructuring.
Meanwhile, technology-related expenses increased slightly to around ₹9 crore, indicating continued investment in improving the platform’s technology and infrastructure.
Financial Efficiency and Current Position
In terms of financial efficiency, the company spent approximately ₹1.2 to earn every ₹1 of operating revenue during FY25. While losses have narrowed considerably, profitability remains a challenge as the platform continues to scale its new business model.
As of March 2025, Chingari reported current assets worth around ₹8 crore, including ₹2.2 crore in cash and bank balances, suggesting a relatively modest liquidity position.
The Road Ahead for Chingari
Chingari’s FY25 performance highlights the challenges startups often face when executing major strategic pivots. While the transition to paid private live streaming has temporarily reduced revenue scale, the company has been able to significantly cut costs and improve its loss profile.
Going forward, the success of the new model will depend on creator participation, user willingness to pay for private content interactions, and expansion in global markets. If the platform manages to strengthen monetisation and attract more paying users, it could gradually rebuild its revenue scale.
For now, FY25 appears to represent a transition year for Chingari, marked by shrinking revenues but improved financial discipline and operational restructuring.