Inshorts: Get Your Daily Dose of News in 60 Words or Less

It may seem like a pleasant task to carve out time in our busy life to relax and keep up with the latest happenings, especially when our schedules are so full with activities and lengthy work hours. Nevertheless, even in the midst of all the activity, taking time for ourselves and keeping up with world events brings us a certain kind of happiness.

In addition to providing us with a chance to unwind, this activity keeps us aware of the environment around us and encourages participation and awareness even in the middle of our hectic schedules.

So, are you someone who used to read news articles daily but now is missing out on the most important news? Guess what Inshorts has a solution for you. They have built a news app that delivers news in under 60 words, with the most important information, and it has no room for opinion or narration.

In this article, we will delve into the successful journey of Inshorts founder, business model, funding, competitors, and more.

Inshorts - Company Highlights

Inshorts - About
Inshorts - Industry
Inshorts - Founders and Team
Inshorts - Startup Story
Inshorts - Mission and Vision
Inshorts - Name, Tagline, and Logo
Inshorts - Products and Services
Inshorts - Business Model
Inshorts - Revenue Model
Inshorts - Challenges Faced
Inshorts - Funding and Investors
Inshorts - Mergers and Acquisitions
Inshorts - Growth
Inshorts - Marketing Strategy
Inshorts - Advertisements and Social Media Campaigns
Inshorts - Competitors
Inshorts - Future Plans

Inshorts - About

Inshorts, one of the most popular Indian news app aggregates news, infographics, and blog posts into a 60-word summary. It began as a Facebook page and was formed by 3 IIT dropouts in 2015. This firm is situated in Noida and specializes in information access and distribution. The app has been accessible to Android smartphones and iPhones.

Inshorts - Industry

As per Statista report, India's digital newspaper and magazine market is expected to develop significantly, with revenues expected to reach INR 1,079.00 million by 2024. This indicates a strong trajectory and presents a big opportunity for the sector.

The market is predicted to continue expanding strongly, with a compound annual growth rate (CAGR) of 3.77% from 2024 to 2028, translating into a projected market volume of INR 1,251.00 million by that year. The continuous increase highlights the growing potential and importance of digital media consumption in India.

Inshorts - Founders and Team

Inshorts was founded by Azhar Iqubal (Co-Founder and Chairman), Deepit Purkayastha (Co-Founder and CEO), and Anunay Arunav in 2015.

Azhar Iqubal

The Co-Founder and Chairman of Inshorts, Azhar Iqubal, is a trailblazing businessman who began his career after quitting IIT Delhi's Mathematics and Computer Science programs. His inspiring leadership has been crucial to the development and growth of Inshorts, a ground-breaking digital journalism platform. Notably, he was Inshorts CEO for 11 years, and now he is the Chairman. Additionally, he has also joined Season 3 of Shark Tank India as a Shark, where his knowledge and experience are certain to have a big impact on the startup and investment worlds.

Deepit Purkayastha

Deepit Purkayastha is a Co-Founder and CEO of Inshorts, a digital platform that revolutionized news consumption. After serving as the Chief Strategy Officer for around 11 years, he was appointed CEO. He holds a degree in Computer Science and Engineering, having completed both BTech and MTech from IIT Kharagpur. Additionally, he served as a Summer Research Scholar at Charles University in Prague and gained experience as a Summer Employee at Goldman Sachs.

Along with Azhar Iqubal and Anunay Arunav, began developing Inshorts during their last year at the institute. Deepit's tech background and entrepreneurial spirit have been pivotal in reshaping how people access news in the digital age. He was the Chief Strategy Officer for about 11 years and now he is the CEO.

Anunay Arunav

Anunay Arunav, Co -Founder of Inshorts, is an accomplished professional with a background in Integrated MTech in Mathematics and Computing from Indian Institute of Technology, Delhi. In addition to his academic successes, his internship at SparkTG has given him real-world experience.

The company has 501 - 1,000 employee as per LinkedIn.

Inshorts - Startup Story

The idea for Inshorts originated from the astute observations of three forward-thinking people who saw the rising gap between Indian youth and the conventional, long-form news formats. As a minimal viable product (MVP), they established a Facebook page with news summaries in the "Shorts" format, realizing the difficulties young people experience in keeping up with daily news.

The trio decided to take a risk by quitting education and dedicating themselves entirely to their new business after receiving encouraging feedback from the market and validation. 2015 saw the launch of Inshorts, an entrepreneurial venture that was greatly aided by a seed round of funding provided by Times Internet and a consortium of angel investors that included the Flipkart founders.

This marked the beginning of Inshorts' remarkable trajectory in revolutionizing news consumption for the dynamic and fast-paced lives of the youth.

Inshorts - Mission and Vision

The mission of the company is to "provide seamless access to personalized and concise informative content locally and globally."

The vision of the company is "to be the global leader in digital information delivery."

Inshorts - Name, Tagline, and Logo

The tagline of the company is stay informed. The parent company of Inshorts is Inshorts Group.

Inshorts - Products and Services

Inshorts products and services are listed below:

Inshorts App

The dynamic news app Inshorts distinguishes itself by selecting the most recent and pertinent news from a variety of domestic and international sources. Its distinctive method of distilling intricate tales into brief, readily absorbed 60-word summaries—tailored to each person's tastes in Hindi or English—is what makes it stand out.

Because of its tailored content delivery, the app is a go-to source for timely and effective updates, keeping users informed without the burdensome aspect of traditional news consumption.

Public App

Public, the location-based social network, has rapidly achieved significant user growth within just six months of its beta launch, making it the fastest-growing Indian social app to reach this milestone. Because of the platform's unique feature, users particularly those living in Tier II and Tier III cities—can record and share real-time local updates.

By producing a significant amount of films each month, Public encourages community involvement and gives people the tools they need to stay informed and connected. This incredible rise highlights how the app's immediate, location-specific updates help to promote a sense of community and connectivity.

Inshorts - Business Model

Inshorts operates on a straightforward and effective business model centered around providing users with quick, engaging, and personalized news updates. The website compiles content from many sources and distills it into concise 60-word synopses featuring attention-grabbing headlines.

Given the contemporary difficulty of time limits, Inshorts wants to grab users' attention and persuade them to dedicate a brief amount of time each day to their app. Because of the high level of user involvement, the app's cleverly placed adverts are the main source of revenue. With a user-friendly layout, navigating the platform is a breeze, while customizable tools ensure that users receive news tailored specifically to their interests.

Inshorts - Revenue Model

Inshorts make revenue from different sources; some of the most prominent ones are listed below:

Types of Advertising: To increase the variety of revenue streams, brands use display ads and sponsored content, among other forms of advertising on Inshorts.

Performance Metrics: Advertisers pay according to how well their campaigns perform, and metrics like impressions (views) and interactions (likes and shares) are important in gauging how effective their ads are.

Annual Contracts: In order to guarantee a consistent and predictable revenue flow for Inshorts, advertisers sign annual contracts.

Inshorts - Challenges Faced

Inshorts encountered challenges in the evolving landscape of vertical video formats, being among the early adopters alongside giants like Facebook, Instagram, and Snapchat. Even though the first-mover advantage was significant, there were particular difficulties because of the growing demand for this ad style. At first, Inshorts struggled to innovate by trying to develop extensively without timely debuts.

As a result, they spent a year developing a product that was never marketed or published. They were cut off from market dynamics by this strategy, which made it clear how crucial it is to strike a balance between development initiatives and consumer demands. An important turning point came when they realized they were developing a service rather than a product, highlighting the necessity of strategically matching innovation with consumer needs.

Inshorts - Funding and Investors

Inshorts has raised $164.9 million in nine funding rounds.

Here are the funding details:

Inshorts - Mergers and Acquisitions

Betaglide, a Bangalore-based web analytics startup, was acquired by Inshorts in October 2015. Retention.ai was designed by the firm to track application uninstallations to improve client retention, and the software was then incorporated into Inshorts.

Inshorts - Growth

The company has achieved remarkable growth, and some of the highlights are:

• The company presence is in 660+ districts as of January 2024.
• Inshorts delivers 1 million+ video local updates as of January 2024.
• The company has shared 1 billion+ stories as of January 2024.
• It has 60 million active users as of January 2024.
• The company has more than 100 million users on its platform as of January 2024.
• It is available in all major languages as of January 2024.

Financials

Expenses Breakdown

Inshorts, total expenses rose from Rs 399 crore in FY22 to Rs 492 crore in FY23.

EBITDA

Inshorts - Marketing Strategy

Inshorts distinguished itself with a unique marketing strategy, some of them are listed below:

User-Focused Criteria: User experience was given precedence by Inshorts over traditional measures like time spent on the platform or the virality of the content.

User-Friendly Interface: By removing prompts and giving the user control, the app made sure that users had a good experience with short stories that did not contain links.

Personalization for User Preferences: Inshorts enabled personalization by providing relevant and targeted news based on user preferences, acknowledging the variety of user needs.

Strategic Data Analysis: Inshorts made wise decisions based on deduced data to pinpoint strengths and weaknesses, directing decisions in areas like as product releases and editorial focus. They efficiently used data.

Customer-Based Approach: Understanding local variations, Inshorts designed its app to accommodate distinct information-gathering habits in various urban areas.

Inshorts - Advertisements and Social Media Campaigns

In a strategic move to resonate with urban news consumers aged 18-35, particularly those who prioritize brevity and time, Inshorts launched a brand campaign on YouTube. The video ad, which was produced by Cheil India, imaginatively centers on a bomb squad commando who finds himself in a precarious situation and is anxiously waiting for vital orders from his superior.

But the story deftly highlights the commando's anger at being inundated with pointless details before ultimately pointing him in the direction of the crucial action. This familiar and interesting scenario clearly conveys Inshorts' dedication to provide clear, pertinent information in a world where there is an abundance of data.

Inshorts - Competitors

Several e-newspaper apps exist, but they aren't as efficient or time-saving as Inshorts. Dailyhunt, TOI, and others are among Inshorts' rivals. Dailyhunt has always been its biggest rival.

Inshorts - Future Plans

In its quest for growth, Inshorts is not only focused on enhancing its news services but also aims to broaden its reach to encompass additional local dialects. Recognizing the potential for increased ad revenue through a more diverse language spectrum and a broader user base, Inshorts is strategically positioned to aggregate more views.

Looking ahead, global diversification is a prospective avenue, contemplating a shift beyond local news. Concurrently, the expansion of Public's clientele is on Inshorts' agenda, showcasing a multi-faceted approach to sustained growth and impact.

FAQ

Who is the founder of Inshorts?

The founders of Inshorts are Azhar Iqubal, Deepit Purkayastha, Anunay Arunav.

What is the operating revenue of Inshorts?

The operating revenue of Inshorts was Rs 181 crore in FY23.

What is the valuation of Inshorts?

The valuation of Inshorts is $450–$470 million as of 2021.