NewsHunt, a local-language mobile platform has acquired BuyT, an ecommerce recommendation platform for an amount undisclosed and makes an entry into the fast-growing e-retailing market.
Launched in 2012 by Yogesh Tomar and Biswanath Patel, BuyT enables the information flow from a vendor to the customer. The platform has integrated content with commerce by making product recommendation available at the point of consumer research on leading publishers platform. BuyT is already one among the top marketing players and traffic drivers for leading e-tailers like Flipkart, Amazon and Snapdeal.
Founded in 2010, Newshunt is India’s home-grown news reader app that publishes content in 12 languages and covers 100+ regional publications. In February 2015, it raised funding of $39 million in Series C funding led by New York-based Edge Capital with which the company acquired mobile analytics platform company for Vauntz for an amount undisclosed. In just three months of its acquisition, it has not acquired startup BuyT.
The acquisition will bring together BuyT’s platform with NewsHunt for delivering product recommendations to its users, and work for the improvement of its mobile advertising based monetization. The BuyT team would play a major role in building the next generation platform by combining the shopping and commerce options for local language users on the NewsHunt Platform, to add to BuyT’s network of content publishers.
Virendra Gupta, founder and CEO of Newshunt said, “BuyT has a great product which marries content with commerce. We intend leveraging BuyT platform to enable commerce on NewsHunt. BuyT will run as a standalone unit continuing its existing line of business and enabling commerce for NewsHunt users.”
BuyT has lately launched their app SDK with partners as they see most of their growth from mcommerce. Tomar, “Working with NewsHunt, we believe we can create an entire mobile ecosystem for news, learning and e-books, transactions, ticketing, all in one place in effect, a one stop shop for mobile user.”