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NCR-based News in Shorts has raised $20Mn(INR 127 Cr.) from existing investor Tiger Global Management. With this new round of funding the startup will focus on enhancing the user experience of the product. The new round values company at around $90-100 Mn. It has plans to expand its 30 member team to a maximum to 50 people by the year end.
News in shorts aims at serving the people by keeping them updated with the latest happenings around the world in just sixty words. It saves the time and also keeps the reader hooked on for more news. Usually, people open up news apps and go through the main headlines. It is highly unlikely for a major proportion of the readers to finish reading a full article.
This was the concept behind the startup which explains the whole issue in just sixty words. The main feature which makes it stand among the rest is the fact that it is very specific in terms of news delivery and everything published is kept short and simple. It claims to have downloads over 1Mn now.
Azhar Iqubal, Deepit Purkayastha and Anunay Arunav, three IIT dropouts started News In Shorts as a Facebook page in April 2013. The startup was also a part of fourth batch of Times Internet’s startup accelerator TLabs, and had raised INR 10 Lakh against 10% equity. News In Shorts had also raised an undisclosed amount in funding from Times Internet, Flipkart co-founders Sachin and Binny Bansal; Gaurav Bhatnagar, Ankush Nijhawan and Manish Dhingra in a seed round in 2014. In February, this year, the startup raised $4Mn From Tiger Global and Flipkart’s founders.
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