LIVE MINT - VerSe Innovation Pvt. Ltd, the parent of news aggregator Dailyhunt and short-video platform Josh, has laid off 5% of its employees at its mid-year performance review to cut costs and streamline operations. The layoffs come a few months after the company raised $805M at a valuation of ~$5B. "To ensure long-term profitable growth, we have exercised fiscal and employee prudence, and implemented an 11% salary cut for individuals with annual salaries of ₹10 lakh or more," said Umang Bedi, co-founder, of VerSe.
5 posts categorized "Dailyhunt"
Dailyhunt Parent Sacks 150; to Cut Salaries for Staff Earning ~₹1M Per Annum
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Dailyhunt and Josh Apps Parent Firm Raises $805M at $5B Valuation
TECH CRUNCH - VerSe Innovation, the parent firm of news aggregator app Dailyhunt and short video app Josh, has raised $805M. The startup is valued at nearly $5B in the new round. Its short video app, Josh, has amassed ~150M users, 50M of whom create and publish content. News aggregator app Dailyhunt, which operates in 15 languages and has a creator ecosystem of ~100K content partners, has ~350M users, whereas the startup's recently launched app PublicVibe now serves over 5M MAU.
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Dailyhunt Parent Raises ~$28M From CPPIB at a Valuation of $3.1B
LIVEMINT - VerSe, the parent of local language news aggregator Dailyhunt and short-video app Josh, has raised $28M in the last leg of its Series I funding round from the Canada Pension Plan Investment Board (CPPIB). VerSe allotted 50K Series I2 preference shares and 10 Series I equity shares to CPPIB at an issue price of ~₹41K apiece as part of the transaction.
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Former Airtel Exec Joins VerSe as CFO
VC CIRCLE - VerSe Innovation, the parent of local language news aggregator Dailyhunt and short-form video app Josh, has roped in Sandip Basu as its group CFO. Basu has 30 years of experience and worked at Bharti Telecom Limited, Fascel Limited, BPL Mobile Group, XCEL Telecom, Loop Mobile, and Loop Telecom, playing different roles as CEO, managing director, and CFO.
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Twitter Is Bringing Moments to Indian Social App Dailyhunt
TECH CRUNCH - Jan 19 - Five years after its launch, Twitter Moments is growing beyond the American social networking platform. Twitter had partnered with Dailyhunt to bring Moments to the Indian social app. Dailyhunt app now has a dedicated tab called "Twitter Moments India" to showcase curated tweets pertaining to news and other events in the world's second-largest internet market. The partnership will allow Twitter to extend its reach in India, where according to mobile insight firm App Annie, it had fewer than 75M monthly active users last month. Dailyhunt, which last month raised $100M from Google, Microsoft, and AlphaWave among others, in comparison, claims to reach ~285M users each day.
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