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