Freechat Revenue, Valuation, Funding & Investors

Freechat is valued at $800M as of January 2024, a 20.0x multiple on its last reported $40M revenue.

Last Freechat valuation

$800M

Series A · Jan 2024

Last Freechat funding round

$80M

Series A · Jan 2024

Freechat revenue

$40M

Series A · Jan 2024

Key investors in Freechat

  • Neilson Lee

Freechat Overview

About Freechat

Freechat is a decentralized social network on blockchain with DID verification, NFT integration, and AI-driven content recommendations via machine learning. Users post updates, join communities, play games, and make encrypted payments in crypto. Freechat's platform hosts UGC, smart contract ads, and privacy tools across distributed ledgers for global access.


Founded

2022

HQ

Hong KongHong Kong

Website

fc.plus

Status

Privately held

Customer focus

B2C

Revenue model

Advertising

Revenue

$40M (Jan 2024)

Valuation

$800M (Jan 2024)

Freechat Valuation

Freechat is currently valued at $800M, based on its Series A in January 2024.

Freechat's valuation has grown 22x from $37M at its seed round in August 2022 to $800M in January 2024, across 2 priced rounds.

Freechat valuation by funding round

Revenue multiple
Freechat valuation by funding round
DateStageValuationRevenue Multiple
Jan 2024Series A$800M20.0x
Aug 2022Seed$37M-

Freechat Revenue

Freechat's latest recorded revenue is $40M, as of its Series A in January 2024. At a $800M valuation, that implies a 20.0x revenue multiple.

Freechat revenue by funding round

Freechat revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Jan 2024$40M$800M20.0xSeries A

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Freechat Funding History

Freechat has raised a total of $82M across 2 funding rounds.

Freechat's first fundraising round was a $2M seed round in August 2022. The most recent completed round was a $80M Series A in January 2024.

Freechat funding rounds

Freechat funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jan 2024Series A-$80M$800MFreechat is a blockchain-based social platform founded in 2022, focused on Web3 features like privacy, security, user-controlled data, and decentralized social networking. It builds on Freechain, an application-layer public chain supporting social message relays, private networks, decentralized storage, AI computing, and order books. The platform offers chat, community operations, creator plans, short videos, and community squares, aiming to create an open, free, and safe social space. Freechat completed an $80 million funding round, achieving a post-money valuation of $800 million, though investor identities remain undisclosed, sparking some industry skepticism. This follows a $2 million seed round in August 2022 funded by founder Jack Long and another investor. The new capital will enhance Web3 features, expand into overseas markets, and launch a Creator Incentive Program for graphics, text, videos, and other content to attract global creators. Traction includes daily market transaction volume nearing $200,000, 40% user retention, and strategic Bitcoin reserves: early purchase of 78 BTC for $16,000 now valued at $3.432 million (at $44,000/BTC). Founder Jack Long projects $40 million annual revenue for 2024. The associated FCC token traded at $0.04 with $751 24-hour volume and $36 million market cap as of January 19, 2024, amid questions on funding validity given token metrics.
Aug 2022SeedNeilson Lee (lead)$2M$37M-

Who has invested in Freechat?

1 investor has backed Freechat across its funding rounds, including Neilson Lee.

Lead investors include Neilson Lee.


Freechat Investors

Investors in Freechat by funding rounds participated
InvestorHQRoundsRoleFirst check

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Freechat Competitors

Freechat competitors include listed companies like Strive, Yalla Group, Hello Group and VNG Corp., and private ones like mobli and Rilla.

Public and private companies comparable to Freechat
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
StriveUnited StatesUnited StatesPublicly listed$4M($21M)$2.7B316.5x
Yalla GroupUAEUAEPublicly listed$342M$128M$827M-
Hello GroupChinaChinaPublicly listed$1.5B$215M$704M-
VNG Corp.VietnamVietnamPublicly listed$420M$23M$657M-
mobliIsraelTel AvivPrivate--$1B-
RillaUAEAbu DhabiPrivate$40M-$737M18.4x

Freechat Public Comps

Freechat is still privately-owned, but its public comps include BitGo Holdings, Arabian Contracting Services, Yalla Group, Plan B Media, APG SGA, Entravision, HashKey Holdings, Truecaller, Hello Group and VNG Corp..

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
BitGo Holdings$16B($9M)0.1x5.5x(125.1x)125.4x
Arabian Contracting Services$521M$353M4.6x5.1x6.7x9.4x
Yalla Group$342M$128M----
Plan B Media$286M$66M3.4x3.2x14.7x7.2x
APG SGA$398M$52M1.8x1.7x13.3x12.3x
Entravision$448M($71M)1.9x-(11.8x)-
HashKey Holdings$92M($109M)6.4x-(5.4x)-
Truecaller$195M$61M3.2x3.4x10.2x11.8x

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Common questions about Freechat

When was Freechat founded?Freechat was founded in 2022.
Where is Freechat headquartered?Freechat is headquartered in Hong Kong, Hong Kong.
Is Freechat publicly listed?No, Freechat is a private, VC-backed company.
What is Freechat's valuation?Freechat was last valued at $800M in its Series A in January 2024.
How much funding has Freechat raised?Freechat has raised $82M across 2 funding rounds.
What was Freechat's last funding round?Freechat's last funding round was a $80M Series A in January 2024.
Who are Freechat's investors?Freechat's investors include Neilson Lee.
What is Freechat's revenue?Freechat's latest recorded revenue is $40M (January 2024).
What is Freechat's revenue multiple?Freechat's latest valuation implies a 20.0x revenue multiple ($800M valuation on $40M of revenue).
Which companies are comparable to Freechat?Companies comparable to Freechat include Strive, Yalla Group, Hello Group, VNG Corp., mobli and Rilla.

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