dailyhunt

Acquisition Alert: VerSe from India Purchases Magzter, a Competitor to Apple News+

Magzter
VerSe Innovation, the parent firm of Indian news aggregator app Dailyhunt, has acquired the popular digital newsstand firm Magzter, the two said Thursday. The Bengaluru-headquartered startup has fully acquired Magzter, a New York-headquartered firm that counted Singapore Press Holdings among its backers. Magzter has amassed over 1 million paying subscribers in India and boasts a global active user base of 87 million, Bedi said. The firm, which offers an all-you-can-consume model with annual subscription fees ranging from $20 to $30, will find a distribution and technology partner in VerSe Innovation, he added. The Indian firm plans to launch Dailyhunt Premium this year that will include an ad-free experience as well as Magzter’s catalog.

Negotiations underway for Dailyhunt to purchase burgeoning social media platform Koo

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Media startup Dailyhunt is in advanced stages of talks to acquire the Bengaluru-headquartered social network Koo, two sources familiar with the matter told me. The potential deal under discussion involves a share-swap agreement and could be finalized within weeks, the sources added, requesting anonymity as the matter is private. The deliberation follows Koo, which has sought to become a Twitter rival, aggressively hunting for new capital throughout last year. The social network, available in India and Brazil, is betting on the idea that its approach of supporting multiple local languages will help the eponymous app resonate broadly with the larger masses. Dailyhunt, which was last valued at $5 billion, and Koo declined to comment.

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