DailyHunt is a mobile application for news and e-book reading. It is a subsidiary company of Verse Innovation. The company is based in Banglore and founder is Virender Gupta. DailyHunt is known to be the largest Indian language distributor of e-books. DailyHunt provides content in 14 different languages apart from English.
History of DailyHunt:
DialyHunt was earlier known as Newshunt founded by Umesh Kulkarni and Chandrashekhar Sohoni in 2009. Earlier it worked on Symbian platform and gained 1.8 crore page view in one year. Later in 2011, it became available on Android. In 2011 Virender Gupta acquired Newshunt and changed the name to Dailyhunt. Now Dailyhunt is available on all the mobile platforms and you can also access it through the website(http://www.dailyhunt.in/).
DailyHunt is available in 5 different countries including India, Bangladesh, Africa, Srilanka, and Nepal.
Funding:
DailyHunt is backed by the top investors in India and across the globe. The company has raised 100 million dollars from 7 different investment companies from four series of funding.
Investor of Dailyhunt are:
- Matrix Partners India
- Falcon Edge Capital
- Angel Investor
- Bytedance
- Darby Overseas Investments
Availability:
DailyHunt is available across all the mobile platforms, Android users can download the app from Google Play Store and iOS users can download from Apple App Store. You can also access DailyHunt through PC(http://www.dailyhunt.in/).
Revenue Model:
DailyHunt generates revenue in two ways:
- DailyHunt is more than 90 million users in India who use DailyHunt to read News, magazines, and e-books. Dailyhunt has largest collection of regional books and magazines in 14 different languages of India. So the bulk of DailyHunt’s revenue comes from display advertising.
- Since the Dailyhunt is free for all the users to read News, but if you want to read or download the books or magazine to your system or mobile you have to pay for this service.
DailyHunt has annual revenue rates of 100 crores and aiming to go over 1500 crores in coming four years. DailyHunt is looking to capture 6-7% of display advertising market whose current value is 4 billion dollars.
Objective:
DailyHunt goal is to become the first point of access for local language users by providing content in their own language. India is a diverse country with 22 official languages and with English literacy rate of 10% so there are 400 million mobile users in India who rely on their local language to operate and consume material in the local language. DailyHunt has already built a strong user base of over 90 million users with 28 million active monthly users and aiming to increase the number to 150-200 million in coming years.
After its inception, Dailyhunt has become India’s biggest avenue for local language content with more than 28 million page visits every month and more than 90 million user base. On Google Play store DailyHunt has more than 5 crore app installs with rating of 4.3 out of 5 and on Apple’s App Store Dailhunt app has ratings of 4.5.
