A comprehensive strategic plan includes a sharper focus on key growth areas following tremendous growth in FY 2021-2022
Dubai, UAE: SHAREit Group, a global internet technology company, today 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.”
SHAREit’s file sharing application also offers multiple tools to optimize the mobile experience, enabling users to be more productive. These include file management, cache cleaning, one-click transfer of game resource packs, phone acceleration and battery power saving.
“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.
SHAREit 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.
About SHAREit Group
SHAREit Group is a global internet technology company that has built a diversified suite of applications installed by nearly 2.4 billion users worldwide, including the core app SHAREit. These range from popular tools in the utility space to digital entertainment content applications. SHAREit Group’s business network reaches over 150 countries in 45 different languages.
According to the AppsFlyer Performance Index Edition 14 for H2, 2021, SHAREit was ranked No.4 media source globally in volume and power rankings in non-gaming categories and No.7 in all categories on the In-App purchases (IAP) index. It has also ranked at No.8 on the global retention index across all categories for driving huge volumes. It aims to help brands achieve their business goals and users to access seamless digital content of the highest possible quality.