A Delhi-based news aggregator platform ‘HubHopper’ has reportedly secured an undisclosed amount in a funding round led by Unit-E Ventures which is a Mumbai-based venture capital firm.
The company is planning to utilize the funds in the expansion of its team and also to enhance work on its recommendation space. A part of funds will also be used in redemption and aggressive marketing plans.
HubHopper was launched by two brothers names Gautam and Uday Raj Anand in 2015. The company was initially started as a social networking company and gradually emerged as a content aggregation and publishing platform in 2017. This was basically done to reduce the gap between the content consumers and content creators.
Talking about the investment part, prior to this funding round, HubHopper had raised three angel rounds of funding that included investors like Raman Kapur (founder of Avana Systems), Surendra Daulet Singh (managing director of GKR), Sanjeev Lamba (former-CEO of Reliance Entertainment), Daulet Singh (former CEO of British Bank of the Middle East) and Jaideep Krishna (Aark Global, a Hong Kong-based private investment group).
The startup is a 25-member team with impressions of over 2 million. The company has built a base of more than 400K-500K monthly active users in the past six months.
Through the next expansion plans, the social network startup will try to fill the gap by assisting publishers in tracking user activity through source clicks, popular action on content being shared, optimal interaction times, impressions versus page views/clicks, etc taking place on their channel.
“It is a sort of targeting and retargeting aspects of the customer cycle to be taken care of,” Gautam stated.
To access all of this information on the platform and gain insights from it, the publishers can pay a subscription fee. Through this, they can increase their returns on the basis of churn of the readers on the platform. Also, Hubhopper helps publishers grow their revenues along with the monthly active user rate, on the basis of its subscription model.