recently, give priority to dozen of market In India, mobile News service News In Shorts for existing investors – tiger global fund brought $20 million B round of funding.
the tiger global fund, risk investment firm, has supported a large number of top Indian technology companies. In recent weeks, it leads the music streaming media company Saavn received $100 million in financing. In before February, it leads the News In Short of $4 million from A round of funding. Now it is back to recapitalise News In Short this issue, spend big help expand its services, expand the customer base.
it is known that News In Shorts about 60 News every day, every News not more than 60 words. In the year to February, the APP on iOS and Android end has won the 100000 downloads, recently, the number soared to 1.3 million already. By February data point of view, about 40% of the registered user login the APP once a week, at the same time, the average daily active users browse 50 report every day. The company’s co-founder Deepit Purkayastha, said in February to now, the user participation promoted 18 times, but he declined to provide specific data.
Purkayastha explained, “the rapid growth of the number of users is the tiger global fund investment News directly In Shorts. We believe that the company is now the service is very good, but if you have sufficient funds to do more, we can do it best.”
he added that the company’s current financing will be used in new product research and development, especially in an Android version of the application, because mobile devices on the market in India, Android accounted for 80% of all smartphones. At present, The News In Shorts team is developing a series of new features, one of them is The personalized service, The service can help users quickly find interested In content, also can be for users to express and share News.
“news can be divided into the factual news and views,” Purkayastha said in an interview, “we are trying to raise the enthusiasm of users in the aspect of news view comments.”
in the beginning, only some specific user clicks, the news commentary will pop up, but the plan is to let all users can share their voice in the platform. Companies are also interested in this round of funding to hire more editors, in order to increase the number of daily news briefing. Also, to let the news language diversity, subtly influence outside India in other parts of the readers. Purkayastha revealed that language diversity that will reach a wish at the end of the year.
so far, the service is not to make money, but the company is expected to become profitable by the end of this year. Except accepting sponsorship of the content of the project, the company founder in mining based on user’s location and interested in the possibility of the development of new products.
“we are going to break the inherent to innovate in the form of advertising,” said Purkayastha, “we will bring more affinity to the user of the application of zero experience to worry, it won’t appear like a traditional application some offensive pop-ups or advertising slogans.
however, only when the News In Shorts really can provide users with personalized content, these functions described above is the meaning of the reality, because only to achieve these goals, they will not be open to sponsor the content of the project provides a good environment for development. That is to say, the News of Shorts In paid content is contrary to the purpose of the application itself, whether real News service, or a yet to be fastidious. Although Purkayastha assurances that the application of all content, whether it be news, advertising or other, will provide users with practical and meaningful message.
Circa is the application of the mobile news, it’s sudden demise of making the public eye and condense onto the news push service. Circa until the U.S. market by service as the center, however the News In the development key of Shorts In India, so, also cannot say that News In Shorts replaced Circa directly.
Purkayastha for Circa trouble did not give a direct evaluation, but he also said that News In Shorts from the user perspective, sustainable development will focus on News simplification, of course, within the scope of project income should be placed also consider.
“we will always keep in mind that users had basically take a few seconds to press it again, so we will update news every 5 minutes, and, in terms of news publishing, cannot appear bloated,” he said.
News In Shorts are the key competitors Newshunt, this year, the new media start-ups has raised $40 million, and gradually transition to the field of digital content. However, News In Shorts don’t worry, it also has tiger global funds to back it up? Tiger global support local Indian on-demand called car giant Ola (Uber competitors), one of the biggest e-commerce sites it, Indian version WeChat ‘, and many other Indian companies. With such a powerful supporter, News In Shorts become very interesting. The e-commerce industry in India and all areas of capital-intensive industries how to startup’s presence, let’s wait and see.
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