DailyHunt a Bangalore based news and ebooks mobile app, owned by mobile internet gateway Verse Innovation, has picked up a minority stake in the local news language portal, OneIndia.
Virendra Gupta, founder & CEO of Verse Innovation, said
“The deal is aligned to DailyHunt’s vision of providing top-notch content spread across local languages and multiple genres in India. We intend to leverage Greynium’s strengths in content creation, expanding to video content going forward, on our platform to further augment our position as the destination of choice for a vernacular user.”
OneIndia is owned by Greynium Information Technologies, it was founded in 2006 by B G Mahesh and Rajesh Jain. It provides local language content publishing it across genres including technology, entertainment, lifestyle, automobiles, personal finance, travel and education in Hindi, English, Tamil, Kannada, Telugu, Malayalam, Gujarati, Marathi and Bengali language.
B G Mahesh founder of OneIndia said
“Greynium has been a key player in the local languages space, and this position will be further strengthened by Dailyhunt’s reach across India. It also ties in well with our plans for producing video content in vernacular languages, which we expect to be the next big growth wave for us.”
With this investment, Verse Innovation will focus on local language user base by leveraging its distribution platform. On the other hand Greynium Information Technologies will expand into several other genres and create short format audio and video content.
DailyHunt was rebranded in August 2015. It was introduced in the form of ‘sachet marketing’, which refers to pay per chapter model. With more than 26 million active monthly users and around 3.7 billion page views per month its app has more than 120 million downloads. It is available in more than 15 languages.
Virendra gupta founder and ceo of dailyhunt said
“It’s time for local language content generation to go more deep, like it has in English. We need content in both audio and video, and more short format content appealing to the demographics of the country. We are supporting non-news content with this investment.”