Noida-based content discovery app Inshorts is reportedly in talks with Tiger Global for a fresh round of investment. The New York-based investment firm is looking to lead a $10-15 Mn round of funding in the media startup. Tiger Global has previously fuelled $20 Mn in the media startup in July 2016.
Tiger Global: Bets In India
Founded in 2001 by Charles P. Coleman III, Tiger Global Management manages capital in a variety of funds. This includes 10 private equity funds (which range from early to late stage VC), a long-biased fund, and a hedge fund. The firm primarily focusses its investments in China, Southeast Asia, Latin America, and Eastern Europe. The investments in India are made out of the private equity funds.
Tiger Global marked its India entry in 2007 with $11.3 Mn (INR 77 Cr) investment in Just Dial. In 2008, it invested $5.9 Mn (INR 40 Cr) in offline coaching institute group TIME. Later, it also invested about $4.6 Mn (INR 30 Cr) in 2009 in JustDial and exited from the same in May 2015, for $64 Mn.
In 2015 alone, it did 38 investments in India with total disclosed investments of $1 Bn and each amounting to more than $5 Mn. The major ones included Ola ($400 Mn), Quikr ($150 Mn), Delhivery ($85 Mn), News In Shorts ($20 Mn), etc.
Tiger Global recently made a partial exit from its investment in ecommerce marketplace Flipkart. Alibaba invested over $2 Bn in Flipkart.
The Inshorts Journey
Inshorts (earlier News InShorts) was founded in April 2013 by Azhar Iqubal, with IIT graduates Deepit Purkayastha and Anunay Arunav. Besides providing aggregated news items, Inshorts now works as a content discovery platform with videos, infographics, podcasts and blogs, among other kinds of content, in English and Hindi.