WATCH: How Dailyhunt wants to reach Bharat’s 400M people with a focus on video and hyperlocal …

Since inception, Dailyhunt has raised close to $150 million from investors like Sequoia Capital, Falcon Edge Capital, Omidyar Networks, and Matrix …

What has 19 billion pageviews, 100 million downloads, 2,000 publishers, 50,000 stringers, and 20,000 regular news contributors?

The answer is Bengaluru-based Dailyhunt.

In eight years, this startup has aggregated news for millions of information-starved Indians. Since 2016, it has acquired four companies, beginning with OneIndia in July 2016. Now, it is readying its platform for video, which it believes will become the primary driver of information. At present, the company has 400 hyperlocal channels on its video platform.

In a conversation with YourStory,Dailyhunt Founder and CEO Virendra Gupta tells us how he built his business, the opportunity of content for new India, and the new business models the company is exploring.

“Integration of local news and video is going to be our play. We see a lot of interest from brands in understanding local advertising,” says Virendra, famously known as Viru.

The company recently acquired LocalPlay, which will enable it to open up video content in smaller towns. This deal will also allow local businessmen to advertise on the Dailyhunt platform to target consumers in their area.

The company is looking at interesting business models with handset companies where it can work on a revenue-share model with advertising and data. For example, if a user shares a news piece with a friend who then opens the link, that friend becomes a potential new customer.

Virendra Gupta -Founder and CEO Dailyhunt

Virendra Gupta -Founder and CEO Dailyhunt



While digital advertising spends in India is only worth $2.5 billion today, it is predicted to be growing faster than TV and Print. This will allow Dailyhunt to gun for $100 million ARR – its current ARR is $51 million.

It also plans to reach 600 districts across the country from its current presence in 400 – India has a total of 725 districts. “For the next 10 years, we are going to be all about Bharat or the India that does not speak English to take to consumption in a big way with smartphones,” says the CEO. This Bharat includes about 400 million people.

At some point in the near future, Dailyhunt plans to revive content commerce, and with the acquisition of LocalPlay, it believes it can power local videos to drive local advertising. “We have built our own real-time bidding engine for ads. Our tech stack is using machine learning to help our readers, advertisers, and content creators,” says Viru.

It is no wonder then that the average time spent on the platform per user is 27 minutes a day, while it is

just a bit higher for a global giant like Facebook at 41 minutes. He says,

“India is addicted to content. It is a land of stories and that means a business like ours is only going to grow.”

Since inception, Dailyhunt has raised close to $150 million from investors like Sequoia Capital, Falcon Edge Capital, Omidyar Networks, and Matrix Partners.

Viru believes that content creators can make money on the platform with an increase in ad revenue. “We are not just an aggregator anymore. We are creating a community and want people to scale their content,” he says.

With three billion video views today, Dailyhunt believes that the growth of smartphones and communication technologies will make videos the content of choice.

The company competes with the likes of InShorts and Glance. But that does not perturb Viru, who says that one must watch India’s purchasing power and the amount of money people from Bharat will spend.

According to him, Indians will spend $2,000 every year in the coming decade and he believes there is an $800 billion market for the digital world.

Zenith, a Publicis Groupe media company, says the digital advertising market will be worth Rs 20,193 crore by 2021 from the current Rs 9,572 crore – clearly showing how digital is going to be a major business for brands.

The platform aims to help content creators become influencers brands would want to work with. Eventually, Dailyhunt plans to directly work with these brands. At present, it is creating a platform that will have an editorial workflow for content creators, staying true to its origins of being a curator.

When asked what books he likes, the illustrious founder laughs. “There is a lot of time spent solving for the next set of customers. This is how I have been since childhood – it was always about work and being practical. I get inspired by people more than books,” says Viru.


Related Posts:

  • No Related Posts

Dailyhunt acquires local content platform LocalPlay for undisclosed sum

News and local language content discovery application Dailyhunt Thursday announced acquisition of hyperlocal content platform LocalPlay for an …

News and local language content discovery application Dailyhunt Thursday announced acquisition of hyperlocal content platform LocalPlay for an undisclosed sum.

Bengaluru-based Dailyhunt said the acquisition underscores its aggressive strategy of attracting new users, residing in the tier I, III and IV Indian cities and towns, who are always hungry to stay updated on all the latest hyperlocal happenings.

Hyperlocal content is consumed by people that are located within a well-defined area, generally on the scale of a street, neighbourhood, community or city.

“We saw the need of hyperlocal content is still largely untapped despite the presence of a host of traditional and new age content platforms in India,” Dailyhunt Founder Virendra Gupta said.

“The latest acquisition of LocalPlay is a part of our strategic focus to penetrate the next billion users of Bharat and build deep sustainable moats around our business and will position us even better as the go-to destination for local language content in India,” he added.

Gupta said Dailyhunt will further scale up and produce five million pieces of hyperlocal content annually, available exclusively on Dailyhunt.

Dailyhunt’s investors include Matrix Partners India, Sequoia, Omidyar Network, Falcon Edge and Bytedance.

Related Posts:

  • No Related Posts

Dailyhunt acquires LocalPlay for undisclosed sum

New Delhi, Jun 20 () News and local language content discovery application Dailyhunt Thursday announced acquisition of hyperlocal content platform …
New Delhi, Jun 20 () News and local language content discovery application Dailyhunt Thursday announced acquisition of hyperlocal content platform Local Play for an undisclosed sum.

Bengaluru-based Dailyhunt said the acquisition underscores its aggressive strategy of attracting new users, residing in the tier I, III and IV Indian cities and towns, who are always hungry to stay updated on all the latest hyperlocal happenings.

Hyperlocal content is consumed by people that are located within a well-defined area, generally on the scale of a street, neighbourhood, community or city.

“We saw the need of hyperlocal content is still largely untapped despite the presence of a host of traditional and new age content platforms in India,” Dailyhunt Founder Virendra Gupta said.

“The latest acquisition of LocalPlay is a part of our strategic focus to penetrate the next billion users of Bharat and build deep sustainable moats around our business and will position us even better as the go-to destination for local language content in India,” he added.

Gupta said Dailyhunt will further scale up and produce five million pieces of hyperlocal content annually, available exclusively on Dailyhunt.

Dailyhunt’s investors include Matrix Partners India, Sequoia, Omidyar Network, Falcon Edge and Bytedance. SVK ANS ANS

Related Posts:

  • No Related Posts

With An Eye On Expansion, MilkBasket Raises $10.5 Mn Led By Unilever Ventures

Bengaluru-based Daily Ninja raised an undisclosed amount of funding from Matrix Partners India in September 2018; BigBasket closed its $150 Mn …
With An Eye On Expansion, MilkBasket Raises $10.5 Mn Led By Unilever VenturesWith An Eye On Expansion, MilkBasket Raises $10.5 Mn Led By Unilever Ventures

Gurugram-headquartered hyperlocal delivery startup Milkbasket has raised $10.5 Mn in a fresh funding round. The investment was led by Unilever Ventures with participation from Mayfield India, Kalaari Capital, Blume Ventures and a few Indian family offices.

The company said that the funds will help it focus on hiring, geographical expansion and customer-centric innovation. Prior to this round, Milkbasket has raised nearly $18 Mn from Sachin Bansal-led BAC Acquisitions, Mayfield Advisors, Beenext, Kalaari Capital, Unilever Ventures, Lenovo and Blume Ventures.

Founded in 2015 by Anant Goel, Ashish Goel, Anurag Jain and Yatish Talvadia, Milkbasket fulfills the daily grocery needs of a household with deliveries starting at 7:00 a.m. The company claims to serve 100K households. It claims that 70% of Milkbasket revenue comes from non-milk products, which are serviced by 8,500 SKUs.

The company expanded its services to four more cities over the last few months and claims to grow 20% M-o-M. The company says that it has achieved positive unit economics in its first six months of operations and continues to grow rapidly.

Earlier in March, Milkbasket acquired Noida-based grocery delivery startup Veggie India for an undisclosed amount. All Veggie India employees along with the cofounders Jainendra Upadhyay and Shailendra Upadhyay have joined Milkbasket as part of this deal.

Anant Goel, cofounder and CEO of Milkbasket had then said that the acquisition is in line with its growth plans for 2019 and will add further strength and distribution capabilities to its existing business.

Hyperlocal Grocery Delivery

With the increasing access to smartphones and trust on online services, the hyperlocal segment has grown exponentially over the last few years. As a glitch in 2015-16, popularly known as Hyperlocal Bubble, several startup saw their end or a pivot for survival.

Among those who survived were UrbanClap, Grofers, BigBasket and others. The grocery segment has grown exponentially since then with investors ready to put in investments with an eye on profits in future.

Here’s what Milkbasket’s competitors are doing:

  • Flipkart Supermart, Walmart-Flipkart’s online grocery arm, went live in Mumbai after being operational in Bengaluru, Chennai, Hyderabad and Delhi.
  • Bengaluru-based Daily Ninja raised an undisclosed amount of funding from Matrix Partners India in September 2018
  • BigBasket closed its $150 Mn funding round with sizeable investments from Chinese ecommerce giant Alibaba, South Korea’s Mirae Asset Global Investments and the UK government-backed CDC Group.
  • Gurugram-based online grocery startup Grofers raised $200Mn in a Series F funding round led by SoftBank Vision Fund (SVF) with participation from existing investors Tiger Global and Sequoia Capital as well as new investor KTB.

A Goldman Sachs report forecasted that the Indian online grocery market is set to reach $40 Mn (INR 270 Cr) by FY19, growing at a CAGR of 62% from 2016 to 2022.

Related Posts:

  • No Related Posts

Daily Ninja achieves feat of 2 million orders per month in March 2019

… Sagar Yarnalkar and Anurag Gupta and is based out of Bengaluru. The company is backed by Sequoia India, Matrix Partners and Saama Capital.

Bengaluru-based milk & grocery delivery start-up DailyNinja today announced that the company completed more than 2 million orders in the month of March 2019. This is a major milestone in the hotly contested space of hyperlocal deliveries where DailyNinja has established a clear lead over its rivals. Established in late 2015, DailyNinja has seen the scorching pace of growth in its daily deliveries and has raced ahead of others in the market.

DailyNinja currently does 70,000+ deliveries per day and operates out of six cities viz Bangalore, Hyderabad, Chennai, Mumbai, Pune & Mysore. It works on a subscription model that delivers items ranging from milk, bread, eggs & other breakfast items to vegetables & groceries as well. DailyNinja.customers can order all their household needs by 11 pm and get their orders delivered by 7 am the next morning. Timely & reliable deliveries and ease-of-use of the platform for the regular customer has made DailyNinja the go-to choice for the milk & grocery delivery needs of the customers.

“We were doing about 17k orders a day 12 months ago. We have grown 4x over the last year to touch 70k orders a day and it has been a tremendous effort by our team. This has allowed us to widen our margin as the largest player in the country in this segment. Our endeavour is to bring the DailyNinja experience to customers in different parts of the country & transform their milk & grocery buying experience,” said, Sagar Yarnalkar, CEO and Co-founder of DailyNinja. The company hopes to provide the customers with greater choice & flexibility in their daily delivery needs and replicate the success that it has enjoyed in rest of India till date.

DailyNinja delivers milk and grocery through an early morning delivery network right at your doorstep. The company was incorporated in June 2015 by Sagar Yarnalkar and Anurag Gupta and is based out of Bengaluru. The company is backed by Sequoia India, Matrix Partners and Saama Capital.

Related Posts:

  • No Related Posts