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<ul><li>InShorts, that started with a simple idea of summarizing news in 60 words, has now achieved a revenue run rate of $10 million per annum in FY19 and is aiming to double the figure this year. </li><li>InShorts has more than 300 advertisers and adds around 10 new advertisers every month. Its clientele list includes global <keyword id="31174" type="PERSON" weightage="20" keywordseo="brands">brands</keyword> like Vodafone, OnePlus, Mercedez, Netflix, Amazon Prime, Myntra, among others. </li><li>The last big brand to leverage InShorts’ branded content was Netflix for 13 Reasons Why, Ghoul, Narcos</li></ul> It was in 2013 when Azhar Iqubal, Anunay Arunav of IIT Delhi, and Deepit Purkayastha of IIT Kharagpur came up with the idea of curating the most significant news items of the day and serving them in 60-word summaries. This was later tested on a Facebook page which quickly got the reader’s attention and within a few months, the team launched a mobile app called ‘News in Shorts.’ Cut to now, InShorts has around 300 advertisers investing on their platform and around 10 new advertisers come on board every month. The first brand to advertise on its platform was Airtel and now its clientele includes global brands like Vodafone, OnePlus, Mercedez, Netflix, Amazon Prime, Myntra. “We have done multiple campaigns with Netflix for their web series like Narcos, 13 Reasons Why, The Umbrella Academy, and Ghoul. For Amazon Prime, we have done a campaign around Oscar-nominated sci-fi movie - Ready Player One, a Comedy-drama series - Whiskey Cavalier and many more. We have also partnered with brands like Toyota, Levis, etc, in the past,” shares <keyword id="38485" type="PERSON" weightage="60" keywordseo="Tarun-Arora">Tarun Arora</keyword>, CMO, Inshorts. InShorts has achieved a revenue run rate of $10 million per annum in FY19 and is aiming to double it this year. It further aims to increase its user base by 3X in three years from its current user base of 10 million people on the back of its unique advertising model. It targets the smartphone generation who are short on time and want to stay updated with the current affairs. Hence, the majority of readers are from metros and Tier I cities. It gets 38% of traction from the age group of 18-24 and 40% of its users are in the age group of 24 - 35 years. Advertising Model It was InShorts’ advertising model that became a hit in a few years and helped it become operationally profitable in 2017. On the other hand, Circa, a short-form content portal, failed to monetize its platform despite raising $5.7 million. Inshorts pioneered the concept of short-form branded content on its app, which is the driving wheel for its growth and profitability. Arora says a few more content platforms followed their suit later. Currently, the platform has non-intrusive ads, broadly divided into six categories -- out of which ‘60 words branded story’ is the most preferred one. Whereas the most engaging formats are ‘Digital Magazines’ and ‘Fact Cards’; the former is a mix of creatives with gifs, videos, and polls and latter is a compilation of interesting facts about a brand, industry or an occasion day. Fact Cards are highly engaging as they get shared on social media very often. ‘Digital Magazines’, on the other side, helped Netflix get 3X more engagement as compared to text ads for its series - ‘The Umbrella Academy,’ within two weeks of its release. Plan Ahead After building a strong user base in Tier I cities, InShorts is now betting big on Tier II and Tier III cities. “The app now is pretty popular amongst influencers like enterprise professionals, politicians and CXOs throughout the spectrum. We are also trying to penetrate into Tier III cities, where we have seen a high potential of users. The future looks even more exciting with this next half of the population joining the digital generation. Our plan is to continuously work on solutions that would best suit the content needs of these new internet users,” concludes Arora.

How InShorts garnered a revenue run rate of $10 million on the back of its advertising model

In barely three years of its existence, <a href="http://www.businessinsider.in/searchresult.cms?query=inshorts">Inshorts</a> has been christened as the country’s highest rated news <a href="http://www.businessinsider.in/searchresult.cms?query=apps">app</a>, awarded the ‘Best Innovation App’ by the Internet and Mobile Association of India (IAMAI) at the 6th India Digital Awards while its founders bagged mentions at <a href="http://www.businessinsider.in/searchresult.cms?query=forbes">Forbes</a> India’s ‘30 under 30 list of young achievers’ and Fortune Magazine’s coveted list of 40 under 40. 
There’s more. 
 
Today, their app also has about 3 million subscribers from a paltry 100,000 subscribers in December 2014. 
 
One would assume that the three founders- all IIT dropouts would have accepted that they had finally arrived. 
 But, one chat with <keyword id="3252339" type="UNKNOWN" weightage="100" keywordseo="Deepit-Purkayastha">Deepit Purkayastha</keyword>, co-founder and Chief Strategy Officer at <keyword id="2976225" type="UNKNOWN" weightage="100" keywordseo="Inshorts">Inshorts</keyword> and you know that’s far from the truth. 
 For him and his two co-founders (<keyword id="2494939" type="UNKNOWN" weightage="100" keywordseo="Azhar-Iqubal">Azhar Iqubal</keyword>, <keyword id="2940800" type="UNKNOWN" weightage="100" keywordseo="Anunay-Pandey">Anunay Pandey</keyword>) the journey has just begun. 
 
At the onset, he seems determined to clear one obvious and over-asked question- Is Inshorts finally planning to focus on monetization? 
 
Purkayastha is quick to respond. “Unlike what has been reported, our team has no plans of monetization atleast for this year. Infact, we are not even actively working on a revenue stream right now,” he adds. 
 
 
What they are doing instead is approaching companies for content partnerships. “We are not charging these companies for the partnership. They give us the information and we go about condensing it into 60-word summaries. Based on our insight, we’re deciding which companies to approach and what information to ask from them.” 
 
When I prod him more regarding the lack of a business model or a revenue stream, he admits that it is not as much a priority for them. “See, we’re obviously working on a business model and figuring out which revenue stream works best for us from the two-three options at hand, but that is not something we’re obsessed or worrying our heads off. The way we see it, if people are spending time with our product, engaging on it- then monetizing it should not be one of the big challenges. It’s okay if we take our own sweet time to work around that,” he tells me. 
 
To ensure more and more people engage with their app, the team is pulling no stops. They recently launched their Hindi version, which targets the same demographic- i.e., people between the age of 18-45 years, but those who are more comfortable reading in Hindi. The reception has been encouraging to say the least with the Hindi version getting over 2 million screenviews. 
 
Another way they’ve ensured their product keeps evolving is by shying away from senior-level hires and instead hiring young people. 
According to Purkayastha, Inshorts looks for youngsters ‘whose capabilities are much more than what is expected out of them.’ 
 
This is also the reason why their Head of Technology is a 20-year old who joined Inshorts right after he completed his 12th. 
 
The conversation then naturally progresses to the rounds of funding received by Inshorts and all the eminent investors backing it. When asked about how the funds of their last round have been spent, Purkayastha says that the two main areas they’ve been spent on are Innovation, building the correct team and on the intelligence around the curation process, adding that ‘majority of the last funding is still in the bank.’ 
 
He then proceeds to explain how he doesn’t want Inshorts to be viewed as a news content app. “We wouldn’t call the three of us news junkies. However, all three of us are very obsessed with the way content is packaged and information is presented to the general public to digest. We feel there is a huge gap in that area- with regards to innovation and that is where we believe Inshorts steps in. Wikipedia is the single innovation in how content is packaged. Inshorts aims to be its successor,”he claims. 
 
Unable to help myself, I ask whether in the near future Inshorts would entertain the idea of people paying for the app and his reply comes even before I finish my question. 
 
“Inshorts is always going to be a free app,”

EXCLUSIVE: “Inshorts is not looking at monetization or actively working on revenue stream for a year,” says co-founder Deepit Purkayastha

<ul><li>Logicserve has undergone a visual transformation to match with today's ubiquitous digital world. </li><li>The agency’s new logo symbolizes its personality traits of being -- Curious, Adaptive, and Intelligent, which, Prasad Shejale, CEO &amp; Founder, <keyword id="3900173" type="PERSON" weightage="20" keywordseo="Logicserve-Digital">Logicserve Digital</keyword>, says are ‘indispensable to thrive and lead in the dynamic world’.</li><li>Logicserve has seen 102% CAGR in the last 5 years and hopes to become a ₹180 crore agency by March 2020.</li></ul>To adapt to the constantly changing landscape, Logicserve Digital, a digital marketing agency and the Indian arm of Logicserve Group, is donning a new visual identity. The agency has revealed a new logo to match with today’s dynamic world. It symbolizes Logicserve’s personality traits of being -- Curious, Adaptive, and Intelligent. 
 
 
 
 
 
 
 
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 The circle at the bottom is similar to the anchor seen in a question mark or an exclamation -- it symbolises curiosity that is the genesis of any change or transformation. The fluid shape showcases adaptability highlighting the company’s ability to change and evolve. The mnemonic that looks like a profile view of a brain, symbolises intelligence and thought leadership. Telling us further about why Prasad Shejale, CEO &amp; Founder, Logicserve Digital, felt now was the right time to launch a new visual identity, he said, “Multi-specialisation is the need of the hour and varied skill sets are required to design a solution for the challenges faced by today’s world. Here, the company represents its core capabilities – Media, Creative, Data &amp; Insights, and Technology – as distinct from one another through different colours and shapes. The core capabilities are ever changing and evolving, which is why the shapes are fluid and transient in nature. These core capabilities are interdependent and when brought together, embodies what they offer to the world – an integrated solution.” Clientele and Growth Plans Logicserve Digital has so far serviced more than 300 clients including Paytm Mall, Inshorts, Bajaj Finserv, DHFL General Insurance, Tata Motors, Shemaroo Entertainment, Hungama, Oppo Realme, Thomas Cook India and Fullerton India. When Shejale founded Logicserve Digital in 2012 with one office, it has now grown to a team of over 320 employees with three offices in Mumbai, Bangalore, and Delhi. The agency also expanded its operations to Dubai this year. In the last financial year, Logicserve recorded ₹110 crore plus as its revenue and throughout the last five years, the digital agency has seen a growth rate of 102% CAGR. This year, it hopes to grow 3X faster than the rest of the players in the digital industry and become a ₹180 crore agency. “Achievement of these significant milestones has made 2019 a wonderful year for us so far. We have been beating the industry and will continue beating them in the growth perspective -- at least three times more than what the industry is growing. So if the industry is growing at 33%, we would definitely want to keep on growing at 100%,” explains Shejale. 
 
 
 
 
 
 
 
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 Standing Out in the Clutter Shejale says the reason for this smooth-sailing is because the agency provides 360-degree digital solutions and is quick to latch on to new trends. “We are one of the early trend-catchers. When people were talking about programmatic, we immediately built a programmatic division and that’s why we picked up a lot of programmatic buyers in this country. Right now, digital is so much beyond media. It has four different skill sets and we have to weave them together to give an integrated solution to the customers. And there are very few agencies who can take an integrated approach properly,” says Shejale. Way Forward for Digital Media Shejale says high internet penetration, low price of data, and increased internet accessibility has helped the digital industry boom exponentially. Clients have also started realising the importance of digital media and its reach. Telling us the reason behind digital’s growth, Shejale says, “We stand at an important juncture where the rising adoption of digital platforms by consumers is encouraging brands to reach out to masses not only in Tier I cities but also in Tier II and Tier III through digital channels. The consumers expect personalization and their behaviour is changing a lot. This makes it important for brands to focus on digital. The digital medium also offers more flexibility on budget, accountability, and Returns on Investment, therefore, brands are trying innovative approaches including the latest ‘Social Commerce’. In 2020, we will witness the growth of digital industry at a very different pace owing to emerging trends backed by technology including Artificial Intelligence, Virtual Reality, Martech tools, data penetration, etc.”

Logicserve Digital dons new identity after seeing 102% CAGR in the last 5 years; hopes to become a ₹180 crore agency by March 2020

Swedish caller identification app <keyword id="1106616" type="COMPANY" weightage="20" keywordseo="TrueCaller">Truecaller</keyword> on Wednesday announced the appointment of <keyword id="4561539" type="PERSON" weightage="20" keywordseo="Rishit-Jhunjhunwala">Rishit Jhunjhunwala</keyword> as the Managing Director for its India operations. Currently based in <keyword id="23050" type="LOCATION" weightage="20" keywordseo="Sweden">Sweden</keyword>, the company's headquarters, Jhunjhunwala will be moving back to Bengaluru and will be responsible for spearheading business strategies to expand the company's footprint and accelerate revenue growth in India. He would be also continuing his previous role as Chief Product Officer and would be overseeing the operations based in Delhi, Mumbai, and Bengaluru. "We wanted a leader like Rishit who can connect deeply with customers, employees and partners alike with his 6 years of extensive experience within the company," <keyword id="1972353" type="PERSON" weightage="20" keywordseo="Alan-Mamedi">Alan Mamedi</keyword>, CEO and <keyword id="170488" type="COMPANY" weightage="20" keywordseo="co-founder">Co-Founder</keyword>, Truecaller said in a statement. Jhunjhunwala joined Truecaller in 2015 as VP of Product and has led the evolution of the product since then, becoming Chief Product Officer in 2020. "I am looking forward to my next venture with Truecaller in India. I firmly believe that Truecaller will continue to transform the way the world communicates and bring great value to people around the world," Jhunjhunwala added. The company recently announced 200 million active users in India and over 270 million active users globally. The Indian market accounts for over 60 per cent of Truecaller's user base and is continuing to increase as a pivotal sector in their expansion. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/peter-thiel-backed-vc-firm-valar-ventures-invests-in-indian-fintech-startup-velocity/articleshow/81663073.cms">Peter Thiel-backed VC firm Valar Ventures invests in Indian fintech startup Velocity</a> <a href="https://www.businessinsider.in/stock-market/news/anupam-rasayan-ipo-lists-at-520-per-share-on-the-india-stock-exchange/articleshow/81663145.cms">Anupam Rasayan fails to dazzle on its stock market debut – shares down by nearly 8% below the issue price</a> <a href="https://www.businessinsider.in/business/startups/news/inshorts-backed-social-networking-app-public-raises-300-crore-in-latest-funding/articleshow/81663873.cms">Inshorts-backed social networking app Public raises ₹300 crore in latest funding</a>

Truecaller elevates its Chief Product Officer Rishit Jhunjhunwala to also head India operations

<ul><li><keyword id="12042233" type="General" weightage="20" keywordseo="gokwik" source="Orion">GoKwik</keyword> offers tools and solutions to direct-to-consumer (<keyword id="4055555" type="General" weightage="20" keywordseo="D2C" source="Orion">D2C</keyword>) that offer better experience to users.</li><li>Matrix Partners India led the company’s pre-Series A round, with participation from RTP Global.</li><li>In its first year of operations, the company has set plans for international expansion.</li></ul>The Indian <keyword id="436047" type="General" weightage="20" keywordseo="ecommerce" source="Orion">ecommerce</keyword> industry was growing exponentially last year as customers and several brands were embarking on the digital journey amidst the pandemic. But the show was largely run by giants like Amazon and Flipkart. That’s when <keyword id="4075194" type="General" weightage="20" keywordseo="Chirag-Taneja" source="Orion">Chirag Taneja</keyword> came up with the solution to help Indian brands to set up their own identity in the world of digital retail. GoKwik, launched in January 2021, offers tools and solutions to direct-to-consumer (D2C) brands — that sell directly to customers through their own website — to offer better experience to users. “If you look at D2C websites and compare it to the giants, you’ll realise that many things are broken. If e-commerce has to boom then someone will need to fix these experiences. That is what we do as a company,” Chirag Taneja, chief executive (CEO) and co-founder of GoKwik, told Business Insider. Fundraise to international expansion — all planned out GoKwik on Tuesday, September 7, announced a $5.5 million fundraise in order to expand its presence further. The pre-Series A round was led by Matrix Partners India, with participation of global investors like RTP Global. Several marquee angel investors and serial entrepreneurs also participated in the round. This includes Jupiter’s Jitendra Gupta, Uni’s Nitin Gupta, AngelList India’s Utsav Somani, CarDekho’s Umang Kumar, Shaadi.com’s Anupam Mittal, Livspace’s Ramakant Sharma, OfBusiness’ Asish Mohapatra and more. Over 12 angels invested in the pre-Series A round. GoKwik plans to use this funding to double its current workforce of 75 employees by 2022 and expand to other Southeast Asian countries that face the same ecommerce related challenges as India. The company has zeroed down on Indonesia, Vietnam and Malaysia for now. The Gurugram-based company notes that they will have an early mover advantage if they start international expansion now. For its international play, the company will focus on building local and central teams in the specific region and partner with local players. The technology and the product would largely remain the same for these markets, where cash-on-delivery would be a more common mode of payment. The Gurgaon-based startup helps retailers overcome challenges of setting up online stores and provide better experience to their customers. The company claims to have processed over a million transactions since its launch. Helping boAt, MamaEarth, LimeRoad and more The e-commerce enabler has also added 75 customers to its bucket list, ranging from marketplaces to publicly listed companies and renowned D2C brands. This includes boAt, Mamaearth, The Man Company, Heads Up For Tails, LimeRoad, ManMatters, The Whole Truth, The Souled Store, and TCNS Clothing Co, which owns brands like W, Aurelia and Wishful. Taneja noted that there are four legs of e-commerce — discovery, search/selection, conversion, retention. GoKwik is solving all these problems with its solution, as per Taneja. Ecommerce is expanding and one would need to use ecommerce enablers to bring the cost down, he added. The company was founded by Taneja and Vivek Bajpai. Taneja has previously worked as the chief revenue officer of Bombay Shaving Company, assistant vice president at Yes Bank and founded a food tech company Ketchupp in 2015. Bajpai, chief technology officer (CTO) and co-founder of GoKwik, was the head of technology at an adtech company SilverPush. Ankush Talwar, chief data scientist at GoKwik, is also part of the founding team. He previously was associated with Kognoz Research &amp; Consulting, Quantiphi and Publicis. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/logistics-company-delhivery-raises-76-million-ahead-of-its-ipo/articleshow/85997440.cms">Former Tiger Global exec Lee Fixel picks Delhivery as his second bet in India, after Inshorts</a> <a href="https://www.businessinsider.in/tech/news/el-salvador-just-bought-400-bitcoin-and-plans-to-buy-a-lot-more-a-day-before-making-it-an-official-currency/articleshow/85995497.cms">El Salvador just bought 400 bitcoin and plans to buy 'a lot more,' a day before making it an official currency</a> <a href="https://www.businessinsider.in/retail/news/chipotles-digital-sales-hit-a-record-2-billion-so-far-this-year-heres-how-its-loyalty-program-led-the-company-to-success/articleshow/85995495.cms">Chipotle's digital sales hit a record $2 billion so far this year - here's how its loyalty program led the company to success</a>

A former Bombay Shaving Company exec is helping brands like boAt, MamaEarth go big on ecommerce ⁠— and he now wants to take it abroad

What makes this <keyword id="2494939" type="PERSON" weightage="20" keywordseo="azhar-iqubal">Azhar Iqubal</keyword> unique? Well, it’s his honesty to his business. Founded four years back by three musketeers of the Indian Institute of Technology Azhar <keyword id="4899647" type="PERSON" weightage="20" keywordseo="iqubal">Iqubal</keyword> (Delhi), Anunay Arunav (Delhi) and <keyword id="3252339" type="PERSON" weightage="20" keywordseo="deepit-purkayastha">Deepit Purkayastha</keyword> (Kharagpur), Inshorts has sorted out the revenue model for itself. Four years since its inception, news aggregation start up <a href="http://www.businessinsider.in/searchresult.cms?query=inshorts">Inshorts</a> has been christened as the country's highest rated news <a href="http://www.businessinsider.in/searchresult.cms?query=apps">app</a> , awarded the 'Best Innovation App' by the Internet and Mobile Association of India (IAMAI) at the 6 th India Digital Awards while its founders bagged mentions at <a href="http://www.businessinsider.in/searchresult.cms?query=forbes">Forbes</a> India's '30 under 30 list of young achievers' and Fortune Magazine's coveted list of 40 under 40. The news aggregation app has about 8 million subscribers from a paltry 100,000 subscribers in December 2014. Till last year, the co-founders were not looking at monetization or actively working on revenue stream for a year. Things have changed now. According to Iqubal, “Inshorts has emerged as a go-to-platform for brands focusing on millennial marketing. Brands Across verticals are including in brand activation targeting millennials. Some of the major brands being - <keyword id="28251" type="UNKNOWN" weightage="20" keywordseo="Dell">Dell</keyword>, <keyword id="215177" type="UNKNOWN" weightage="20" keywordseo="Vivo">Vivo</keyword>, <keyword id="1731609" type="UNKNOWN" weightage="20" keywordseo="Oppo">Oppo</keyword>, One Plus 5, <keyword id="13722" type="UNKNOWN" weightage="20" keywordseo="Lenovo">Lenovo</keyword> , <keyword id="43777" type="UNKNOWN" weightage="20" keywordseo="Renault">Renault</keyword> , <keyword id="103029" type="UNKNOWN" weightage="20" keywordseo="Maruti-Swift">Maruti Swift</keyword> , Kotak Mahindra, Polaroid etc.” Most users of Inshorts use smartphones priced over Rs 10,000, which make them good target for brands How will the money flow in? Inshorts has already partnered with a few top notch brands and branded content is what driving their coffers. The mantra of news in 60-words has appealed to the fan base whose morning routine now includes reading at least 10 news stories a day. This in return gives Inshorts a superb engagement on app. And that’s how Iqubal wants to thrive his business on. In an age of advertising as storytelling, it starts with deciding what stories to tell that are worthy of an audience’s time. Competition The news market is still emerging. While Iqubal admits of apps like Daily Hunt and UC News being direct competitor, he believes, what Inshorts does is unique in terms of shortening the news and feeding more content to a single user. Out of 200 stories uploaded every day, an user reads at least 20 stories all over the day. And with billions of page views (counted as one swipe per 60 –word story) every month, Inshorts has achieved a feat in the crowded market. Future Inshorts had raised $24 million from two rounds of fund raising, both led by Tiger Global. Now after offering English and Hindi, Inshorts wants to go <keyword id="6355055" type="UNKNOWN" weightage="20" keywordseo="USA">USA</keyword> or Singapore, which is again a matter of time.

You Searched For "InShorts Revenue" and got 6 results

How InShorts garnered a revenue run rate of $10 million on the back of its advertising model

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A former Bombay Shaving Company exec is helping brands like boAt, MamaEarth go big on ecommerce ⁠— and he now wants to take it abroad

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