News in Shorts bags $20 Million from Tiger Global

News in Shorts

News in Shorts, the news app which saves a lot of time for the users by keeping them updated with anything and everything happening around the world. The factor, which makes the app stand out from the crowd is the fact that all the news are summed up in 60 words making it pretty interesting and time-saving affair for anyone landing onto the app.

News in Shorts

“The idea behind this initiative was to solve an end-user problem. People open the news websites or apps, and most of them just look onto the headlines to try to get an idea about what the whole buzz is about. However, majority of people bounce back without reading the whole news. We are here to change that, News in Shorts provides the idea of whole news in just 60 words, so you get to read what is really needed” an initial press release said.

Started in April 2013 as a Facebook page by Azhar Iqubal, Deepit Purkayastha and Anunay Arunav, the three IIT dropouts, News in Shorts got the first investor and mentor in form of TLabs, which invested 10 Lakh INR against 10% equity. The seed round, which took place back in 2014 gave News in Shorts an undisclosed amount, which came from Times Internet, Flipkart founders,Gaurav Bhatnagar, Ankush Nijhawan and Manish Dhingra.

The latest investment from Tiger Global comes as the second investment this year, after the same investor along with FlipKart cofounders had invested $4 million in February.

According to the team at News in Shorts, the funds will be used to revamp the app to make sure that it works on low-end smartphones as well, without any issue. News in Shorts boasts of over a million downloads already with plans to multiply the number over the coming time. The app currently employs around 30 people, which is set to reach around 50 by the end of this year, courtesy the latest funding round.

Author: Kunwar Prithvi Singh Chauhan

Kunwar Prithvi Singh Chauhan, popularly known as Kiddo in surroundings is a teenage entrepreneur and a public speaker. He loves to explore new places, taste new dishes, make new friends and read awesome content. +KunwarPrithvi