Topics
Latest
AI
Amazon
Image Credits:Magzter
Apps
Biotech & Health
Climate
Image Credits:Magzter
Cloud Computing
Department of Commerce
Crypto
go-ahead
EVs
Fintech
Fundraising
Gadgets
Gaming
Government & Policy
Hardware
layoff
Media & Entertainment
Meta
Microsoft
Privacy
Robotics
Security
Social
blank space
Startups
TikTok
DoT
speculation
More from TechCrunch
Events
Startup Battlefield
StrictlyVC
Podcasts
Videos
Partner Content
TechCrunch Brand Studio
Crunchboard
Contact Us
VerSe Innovation , the parent firm of Indian intelligence collector app Dailyhunt , has acquired the pop digital newsstand platform Magzter , the two company said on Thursday .
VerSe , based in Bengaluru , did n’t disclose the financial term of the wad . Magzter , which is headquarter in New York , counted Singapore Press Holdings among its backers .
The acquisition of Magzter , which bid more than 8,500 magazine titles on its eponymous app , underscores VerSe ’s growing focus on turn over and dish out loaded interview , VerSe ’s co - founder , Umang Bedi , say TechCrunch in an interview . He term the passel Verse ’s tumid acquirement to particular date .
Magzter has amassed over 1 million compensate reader in India and brag a spherical active drug user base of 87 million , Bedi said . The firm , which offers an all - you - can - consume model with yearly subscription fees ranging from $ 20 to $ 30 , has found a distribution and technology partner in VerSe , he added .
Magzter maintains partnerships with thousands of large publishers and offers title such as The New Yorker , The Economist , Vanity Fair and Time . Dailyhunt is working to introduce a personalized news provender in Magzter that will curate article and stories from the digital newsstand app ’s catalogue of magazine claim .
“ This partnership opens up new boulevard for delivering high-pitched - tone content experiences to exploiter across India , further strengthening our end of providing unparalleled digital reading experiences to our reader , ” Magzter founders Girish Ramdas and Vijayakumar Radhakrishnan said in a joint statement . They will persist in to form on Magzter following the attainment , Bedi state .
Join us at TechCrunch Sessions: AI
Exhibit at TechCrunch Sessions: AI
VerSe , which also operate the short - TV app Josh , is increasingly improving its finance and expects to be EBITDA profitable at the grouping level by next year , Bedi said . The inauguration hadalso engaged with local societal medium startup Koofor an skill , TechCrunch report in February .
Bedi , turn down to comment on any specific talks , verify that VerSe is pore on deals with firm that are doing well financially and are scaling tax income .
