Ending Soon! Save 33% on All Access

Dailyhunt Parent VerSe Innovation Acquires Global Digital Newsstand Magzter Dailyhunt is launching Dailyhunt Premium, a subscription service that will give users access to premium content from international publishers in over 40 categories and 60 languages, including Spanish, English, French, Italian, Japanese, and Russian.

By Entrepreneur Staff

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

[L-R] Umang Bedi & Virendra Gupta, Co-Founders, VerSe Innovation

Local language technology platform VerSe Innovation announced on Thursday that it has acquired Magzter, a cross-platform, global digital newsstand with a library of more than 8,500 premium magazines and newspapers, for an undisclosed sum.

According to the official release, this move marks Dailyhunt's strategic foray into super premium content. This acquisition would also help in its journey to becoming India's largest digital media tech conglomerate.

Virendra Gupta and Umang Bedi, Co-founders of VerSe Innovation, said, "Magzter is a perfect fit for our ecosystem. The acquisition aligns seamlessly with our growth trajectory and enhances our ability to deliver premium content experiences to our ever-expanding user base. We will keep strengthening our capabilities and spreading our wings, leading the way in India's digital content space."

In anticipation of this agreement, Dailyhunt is launching Dailyhunt Premium, a subscription service that will give users access to premium content from international publishers in over 40 categories and 60 languages, including Spanish, English, French, Italian, Japanese, and Russian.

Dailyhunt claims to serve over 350 million monthly active users (MAUs) every month. The time spent per daily active user (DAU) is 30 minutes per user per day.

Started in 2011, New York-based firm Magzter claims that it has a user base of 87 million users across 175 countries.

For now, it provides a selection of plans for its Indian clientele. This has four plans: INR 3,999 for a year, INR 6,999 for two years, and INR 9,999 for three years. The monthly plan is INR 399.

"We are excited to join forces with VerSe Innovation and contribute to the evolution of content consumption in India," said Girish Ramdas and Vijayakumar Radhakrishnan, Co-Founders, Magzter. "This partnership opens up new avenues for delivering high-quality content experiences to users across India, further strengthening our goal of providing unparalleled digital reading experiences to our readers."

In 2007, Virendra Gupta and Shailendra Sharma founded VerSe Innovation. In 2020, Umang Bedi—who had joined the company in February 2018—was promoted to co-founder.

In April 2022, the Bangalore-based company, valued at over USD 5 billion, raised USD 805 million in a fundraising round led by the Ontario Teachers' Pension Plan Board and the Canada Pension Plan and Investment Board. Through several rounds of fundraising, VerSe Innovation has raised over USD 2 billion in funding to date.

Entrepreneur Staff

Entrepreneur Staff

Editor

For more than 30 years, Entrepreneur has set the course for success for millions of entrepreneurs and small business owners. We'll teach you the secrets of the winners and give you exactly what you need to lay the groundwork for success.
Leadership

How to Break Free From the Cycle of Overthinking and Master Your Mind

Discover the true cost of negative thought loops — and practical strategies for nipping rumination in the bud.

Side Hustle

These Brothers Had 'No Income' When They Started a 'Low-Risk, High-Reward' Side Hustle to Chase a Big Dream — Now They've Surpassed $50 Million in Revenue

Sam Lewkowict, co-founder and CEO of men's grooming brand Black Wolf Nation, knows what it takes to harness the power of side gig for success.

Growth Strategies

AI Agents Startup Secures $4M to Revolutionize Customer Onboarding & Retention

Under the leadership of Gaurav Aggarwal and Anuja Verma, Truva AI has created an innovative solution for customer onboarding and retention, leveraging sophisticated AI agents.

Personal Finance

This Investment Bundle Includes a Trading Course and Stock Screener Tool for $150

Approach the stock market with an increased understanding.

Marketing

5 Secrets to Mastering Your Niche That Will Give Your Competition a Run For Its Money

Follow these steps to unlock a competitive advantage in an underserved segment.