India’s Inshorts, the mobile-first news curation platform, has recently raised $60 million in a Series D round led by Tiger Global. This round of funding follows Inshorts’ growth as its public social network app, Inshorts Network, has become one of India’s top 10 social networking apps on Google Play.
Inshorts has become one of India’s most successful news curation platforms, and it is expected to grow with this latest investment. Let’s take a closer look at India’s Inshorts and the details of the Series D round.
India’s Inshorts raises $60 million following Public social network app growth
India’s Inshorts, a short news aggregation platform, recently closed its Series-D round with a $60 million raise. The startup has come out on top following the massive growth of its public social network app, which acts as an information exchange hub for its users.
Inshorts started operation in 2013 and was launched with a single focused vision to make news consumption easy for millennials and Gen Z users. Its unique format,”60 words, ” is a concise summary of major news stories. Since its launch, the platform quickly gained popularity among news readers and soon raised Series A funding from Tiger Global in 2016. This enabled the founders Aditi Shrivastava & Azhar Iqubal to grow their platform quickly into a category leader in mobile-only content in India.
The Series-D round was backed by eight investors like Steadview Capital, Delta Capital , Tiger Global & more who are thought to have seen tremendous growth potentials manifested through Inshorts apps quick rise in popularity across the country. According to reliable sources, Inshorts has around 33 million monthly active users across both web and app platforms with high user engagements every month.
Raising Funds
India’s Inshorts, founded in 2013, recently announced a $60 million raise following its public social network app industry growth.
The company aims to create a platform where people can share and discuss news and other content related to India. This funding will be used to expand coverage in India and other markets.
In this article, we’ll look at the impact of the raise and discuss how it will help Inshorts’ growth.
Investors
India’s Inshorts, an enabling public social network app for democratic exchanges of information and opinion, has announced that it raised $60 million in series D funding round. The investors participating in the latest raise include Japanese firm, Recruit Holdings Co. Ltd., Saina Nehwal, Existing investor Tiger Global Management.
The funding follows significant growth of Inshorts both in terms of user base and revenue. The company was noted to be one of the fastest-growing technology startups in India given its exponential growth since its launch in 2013. As part of this fundraise all existing investors reinvested, with new investor participation via Japan’s leading media conglomerate Recruit Holdings Co. Ltd.
In a statement Dec 2019 reported, the company said it would use the funds to expand its user base further by investing aggressively on consumer product centric innovations and scaling AI capabilities seamlessly across its platform. It will also continue augmenting functions like Watch & Discover on One Platform using ML for personalising experiences for its users powering better engagement through consumer metrics such as time spent on platform per session; return visit rate; frequency & longevity of content discoverability etc.
Amount Raised
India’s Inshorts, a short-form mobile-first news delivery and discovery platform, has completed a $60 million financing round. The funding round was co-led by new investors Tiger Global and Insight Partners, with participation from existing investors Saudi Arabia-based Mirai Creation Fund and Chinese digital media company ByteDance (owner of the hugely popular TikTok app).
The financing follows a robust year for India’s digital media landscape. The rising popularity of social network apps and increasing demand for regionalized news content on mobile devices have provided an opening for digital news providers like Inshorts.
Inshorts has leveraged its combination of automated expertise and data tools to expand its reach over the past year, experiencing increased readership and revenue growth. This new Series C funding will enable the company to expand its services further into international markets and continue to capitalise on growing demand within India’s internet-driven population.
Growth of the Social Network App
India’s Inshorts recently raised $60 million following the success of their social network app. This success is a testament to the power of the app and its ability to attract users and businesses alike. The social network app is also becoming increasingly popular among younger generations, which has no doubt helped to contribute to its growth.
Let’s explore further why the social network app has become so successful.
Statistics
India’s Inshorts, a news aggregation and summarization app, has recently raised $60 million in the latest funding round. This round was led by Tiger Global Management and participated by existing investors such as Sequoia India, Shunwei Capital, Vertex Ventures and RA CAD. This stellar success showcases the growing trend of public social networks in India that Inshorts has taken advantage of to rapidly grow its subscriber base.
In just four years since its establishment in 2013, Inshorts boasts more than 14 million downloads and 3.2 million daily active users (DAUs). Furthermore, it has grown its total revenue from Rs. 10 crore (US$1.46 million) to Rs. 60 crore (US$8.77 million) within two years according to an Economic Times article published on Oct 6th this year – an indicating of a successful business model adopted by the company’s founders in the NewsTech industry leveraging strong growth for public social networks in India bridging news readers with writers.
Strategies
India’s Inshorts, a public social network app, has recently secured $60 million in funding following its rapid growth over the last few years. The app, established in 2013, allows users to get local and national news condensed into just 60 words, and also has video content to engage users. The funding will help grow its user base further within India and globally.
To have achieved such tremendous success quickly, India’s Inshorts have utilised several effective growth strategies with their app:
- They created a product that provides concise news summaries for busy customers and creates an addictive user experience through personalised digital feeds on mobile devices and tablets.
- They invested considerable resources into digital marketing campaigns such as cross-platform advertising with other brands and influencers and traditional search engine optimization (SEO) efforts.
- They focused on establishing viral reach by showcasing user submitted content as part of their feed which encouraged word-of-mouth growth organically.
- They utilised artificial intelligence (AI) technology to create predictive analytics models to improve the customer journey while driving customer acquisition in relevant target markets globally.
Impact of the Funds
India’s Inshorts recently raised $60 million in a Series C funding round. The funds will fuel the growth of a public social network app, Inshorts Connect.
This funding will enable Inshorts to expand its operations and offer new services and features.
This article explores the impact of these funds and how it will affect the startup’s expansion.
Expansion Plans
India’s Inshorts, a public social network app, recently announced a $60 million raise following accelerated growth. The funds will drive expanded reach and further development of the app’s features.
With these funds, Inshorts has outlined plans to rapidly grow its major user base – young people across India. In addition, it will use these resources to expand its product offering and features, including personalised recommendations, analytics-driven content curation, deep learning algorithms and AI-backed performance improvement. Inshorts also aims to develop an ancillary ecosystem that complements the core products by leveraging relationships with non-traditional partners such as merchants and merchants in Education.
This capital injection will also be utilised to foster other potentially lucrative verticals such as content aggregation including job postings for users and creating localised on-demand services for audiences equipped with real-time insights into local trends based on geographical locations. This massive investment from investors is certainly a testament of their confidence in the company’s future potential given its current track record of success over the last year or so.
New Features
The latest funding will enable India’s Inshorts to emphasise personalization and grow its public social network app by expanding its offerings and field-testing new features. As part of the company’s ongoing development efforts, it plans to create more diversified content tailored to its users’ interests. It also intends to launch a “follow” feature, allowing users to directly keep up with their friends and favourite influencers outside the platform.
India’s Inshorts has also announced that it will invest in artificial intelligence-powered user experience and machine learning technologies to further enhance its content discovery capabilities. The company intends to bring AI into its headlines discovery engine to provide a more tailored news experience for users. The funding also allows India’s Inshorts time and resources to address technical issues like spam reports and real-time notifications.
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