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Dailyhunt parent ‘hungry’ for acquisitions to drive core business growth

LivemintLivemint · 1y ago
Dailyhunt parent ‘hungry’ for acquisitions to drive core business growth
Medial

VerSe Innovation, the parent company of Dailyhunt and Josh, is actively seeking acquisitions to expand its user base, diversify content offerings, and explore monetization opportunities. The company recently acquired US-based subscription service Magzter to enter international markets and the premium subscription segment. VerSe Innovation aims to finance acquisitions using its existing cash reserves, with over $100 million in dry powder. The company has also seen steady revenue growth from online advertising and subscriptions, while its short-video app, Josh, achieved an annual recurring revenue of $100 million. VerSe is targeting acquisitions to strengthen its core business and drive growth.

VerSe Innovation revenue jumps 88% in FY25; eyes profitability in H2 FY26

EntrackrEntrackr · 23d ago
VerSe Innovation revenue jumps 88% in FY25; eyes profitability in H2 FY26
Medial

VerSe Innovation, the parent company of Dailyhunt and short-video app Josh, reported improved financial performance for the fiscal year ending March 2025. According to the firm’s press release, operating revenue grew 88% during the fiscal year, while EBITDA burn reduced by 20%. VerSe Innovation’s operating revenue jumped to Rs 1,930 crore in FY25 from Rs 1,029 crore in FY24. Total revenue, including other income, stood at Rs 2,071 crore during the year, representing a 64% year-on-year growth. On a standalone basis, excluding acquisitions, the main firm’s revenue grew 33% to Rs 1,373 crore in FY25. VerSe reduced its EBITDA burn (excluding non-cash expenses) by 20% to Rs 738 crore in FY25 against Rs 920 crore in FY24. Its EBITDA margin improved to –38% in FY25 compared to -89% in FY24. Operating expenses also fell to 61% in FY25 from 77% in FY24. VerSe aims for EBITDA positivity and profitability at the group-level in the second half of FY26 through AI-led monetization, subscription growth, community engagement, and strategic acquisitions. The company plans to integrate acquisitions like Magzter and ValueLeaf to enhance monetization. VerSe serves over 350 million users and is backed by investors such as CPP Investments, OTPP, QIA, Carlyle, Google, and Microsoft. As India’s first unicorn in the local language content space, VerSe’s path to profitability by H2 FY26 is closely watched, with potential IPO plans in future years.

VerSe cuts burn by 51% in FY24, eyes profitability in H2 CY25

EntrackrEntrackr · 7m ago
VerSe cuts burn by 51% in FY24, eyes profitability in H2 CY25
Medial

VerSe Innovation, the parent company of vernacular news aggregator Dailyhunt and social media app Josh, has reported a significant 51% reduction in EBITDA burn during the last fiscal year. The company’s EBITDA burn dropped from Rs 1,448 crore in FY23 to Rs 710 crore in FY24. The losses exclude non-cash expenses. Verse reported total revenue of Rs 1,261 crore in FY24, compared to Rs 1,809 crore in FY23. VerSe brought down its cost of services by 17% to Rs 1,155 crore and slashed business promotion expenses by 65%, from Rs 969 crore in FY23 to Rs 339 crore during the fiscal year ending March 2024. VerSe is projecting revenue growth of over 75% in FY25. The company’s growth plans are supported by its investment in AI-led tools and platforms. VerSe is also targeting break-even in the second half of calendar year 2025. VerSe was valued at $5 billion after raising a $805 million round in April 2022. The firm claims to have over 350 million users every month (MAU). Dailyhunt competes with Inshorts, whereas its short video app Josh competes with ShareChat’s Moj, YouTube Shorts, and Instagram, among others.

AI powering VerSe Innovation's growth across digital media landscape

EntrackrEntrackr · 5m ago
AI powering VerSe Innovation's growth across digital media landscape
Medial

News All Stories AI powering VerSe Innovation's growth across digital media landscape VerSe Innovation’s AI ecosystem is reshaping content, advertising, and creator platforms, led by NexVerse.ai — its AI-driven AdTech engine boosting ad efficiency and brand impact at scale. Kunal Manchanada 26 Apr 2025 16:35 IST Follow Us New Update VerSe Innovation reaches millions of users across India’s linguistic landscape through Dailyhunt, Josh and Oneindia. The company has integrated AI-driven systems across the content ecosystem, including recommendation engines at Bharat scale and generative AI applications to improve accessibility, engagement, and monetization. VerSe Innovation’s AI ecosystem is driving transformation across content, advertising, and creator-led platforms. At the forefront is NexVerse.ai, VerSe’s AI-powered programmatic AdTech engine, which is already enhancing ad efficiency and brand outcomes at scale. “We leverage deep learning models to analyze real-time user interactions, optimizing ad selection, placement, and pricing. Our AI-powered content-ad matching system ensures that s reach the right audience, significantly boosting engagement and performance,” said Umang Bedi, co-founder and CEO of Verse Innovation. Beyond advertising, VerSe’s AI-driven content intelligence is revolutionizing digital news consumption. Dailyhunt Premium, a subscription-first premium content platform powered by Magzter, caters to India’s evolving digital readership. At Magzter, we use visual AI models to extract articles from several of its newspaper and magazine content and convert them into ezRead, a mobile-friendly format,” outlined Bedi. For Dailyhunt’s Xpresso, its short news format, VerSe leverages multimodal generative AI to automate content understanding and creation. According to Bedi, these AI systems assist both internal teams and external creators in identifying, curating, and generating short news cards, web stories, and other bite-sized formats that are timely, relevant, and engaging. “These innovations not only enhance user engagement but also elevate the overall content experience,” he said. VerSe’s AI capabilities also extend to content creation tools such as WISE, an AI-driven authoring and marketing platform that assists with headline generation, AI-based imagery, and social media content creation. VerSe is also expanding into AI-powered audio, video, and conversational formats. Josh Audio Stories offer immersive, narrative-driven content in multiple Indian languages across genres such as drama, romance, thrillers, horror, and fantasy. “AI plays a key role in scripting, voice modulation, and personalization, enabling the creation of high-quality audio experiences at scale,” added Bedi. The Dream Call feature enables users to engage in live, personalized conversations with creators. AI plays a crucial role in enhancing the experience by helping screen and match users with relevant creators, ensuring smoother interactions and maintaining quality and safety standards. This offering has quickly gained traction and is emerging as a significant revenue driver. Finally, VerSe Collab serves as a full-stack influencer marketplace, enabling India’s top consumer brands to manage creator campaigns with precision and scale. It offers access to a self-serve dashboard, connects brands to a network of over 100,000 creators and celebrities, and leverages AI to streamline campaign ideation, rollout strategies, and performance tracking—making it a powerful engine for influencer-led marketing in India. “By embedding intelligent systems across its platforms, we’re not only enhancing user experiences but also creating sustainable value for creators, advertisers, and consumers alike. Our expansion into automated content generation and conversational AI signals a broader shift toward scalable, data-driven media operations,” emphasized Bedi. As VerSe refines its AI capabilities, it looks to strengthen its role in India’s digital ecosystem, ensuring real-time, relevant content delivery across languages and user demographics. With continuous advancements, the company is positioning itself at the forefront of AI-powered media innovation, shaping the future of digital information and interaction.

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