Short news app InShorts became profitable from November 2017, generating a net revenue run rate of Rs 25 crore in 2017, as compared to Rs 3 crore in 2016, through advertising a financial daily reported.
“We have over 200 advertising clients on board and are generating enough revenue from advertisements to become operationally profitable. Some of our biggest clients include Vodafone, Mercedes, Amazon, amongst others,” told Azhar Iqubal co-founder of InShorts to Economic Times.
InShorts, as now being profitable, is also planning to launch a video-based news app in the year 2018. It is currently available in Hindi and English, but soon will be exploring options in other Indian languages and grow focus on tier 2 and 3 cities.
“We have seen over 10 million downloads so far, but a large portion of these users come from the metros or tier one cities. So besides entering the video news segment, we will also look to capture the regional market in India,” said Iqubal.
According to Manish Dhingra, an angel investor in InShorts, the short news app is leveraging tech to create a content discovery platform. “This business model has the ability to change the way content is consumed in India. The team’s focus on driving growth and operational excellence has been extremely impressive,” said Dhingra.