DailyHunt, a mobile app which presents news in vernacular languages has raised $25 million with funding from Chinese content provider called ByteDance. The latter is headquartered in Beijing and operates content service providers Toutaio in China and TopBuzz in Brazil and US.
The Bengaluru based content service provider has also managed to get funding from the chief executive officer of Vodafone, Arun Sarin in addition with the funding from previous investors Matrix Partners India, Sequoia Capital, Omidyar Network and Falcon Edge Capital.
According to sources, the company is in talks for a new funding round while the amount is not known but the deal is likely to be fixed at a premium to its previous funding of Rs 1700-1800 crore.
DailyHunt has grown by partnering with advertisers, developers, ecosystem partners and publishers. The company is really thankful to them and is determined for commitment towards digital regional language domain.
The investment from ByteDance, strengthens the company’s belief and induces them to take inspiration from ByteDance’s personalized and large scale digital learning in order to provide a good experience to its users.
Dailyhunt has over 28 million monthly active users and over 4.5 billion page views monthly and provides a wide range of regional language content in form of news, eBooks, magazines, comics and videos.
Installed in over 120 million phones and available in 15 Indian languages, Dailyhunt has over 35,000 items published daily. Its users consume over 4.5 billion page views monthly.
“Dailyhunt is addressing the next 400 million users who will be brought online by the coming explosion in data usage. We believe in their approach of working with every ecosystem player to bring the best content to the user,” said Vikram Vaidyanathan, managing director, Matrix India.