InShorts, a content distribution app has now acquired Palo Alto/Bengaluru-based Retention.ai, a data analytics startup. Retention.ai was earlier called as BetaGlide. The financial terms of the acquisition deal has not been disclosed.
Founded in 2013 by Amritanshu Anand, Anshul Singhle, Manan Shah and Abhimanyu Dikshit, the Retention.ai is a data analytics startup that assist app developers in analyzing user behavior. It basically works on tracking uninstalled users, which consists of finding possible reasons for uninstallation and ultimately decreasing user acquisition cost. Till date, it has worked with more than 12.5 million devices.
With the acquisition, Inshorts aims to roll-out features like recommendation engine and the in-house data analytics team. Retention.ai has worked with Inshorts prior to the acquisition to offer their developers with app usability data that helped detect performance, functional issues and bugs even for lower end smartphones. However, it is still vague if Rentention.ai will go on to be offered as an independent product.
Couple of months ago, the company has rebranded from News in Shorts to InShorts. In the same time, the company raised $20 million funding in Series B round from Tiger Global. As the time of funding, the company said the funds would be used to expand the team and improve user experience. Founded in 2013, InShorts combines news across many categories and offers 60-word summaries to its users along with a link to the original article. Now, it offers these summaries to its readers with the help of Android and iOS app. It also offers Push notifications. After rebranding, it moved further to introduce other content streams like videos, info graphics and podcasts.
The founders said in an interview, “As current affairs savvy people ourselves, we felt that the current media industry is designed to serve only those amongst us who have the time and patience to read through the news epics.” One of the founder added, “Currently we are focusing only on the Indian market. Even the international news that we carry is shared with Indian users in mind.”