Umang BediNow known as the Co-founder of Dailyhunt, Umang Bedi was a Pune University student from where he completed B.
In June 2019, the startup acquired hyperlocal video content and news content application LocalPlay, which will help the site to stream video content in smaller towns.
This deal will also enable the local businessmen to advertise on the platform to target consumers in their area.
In July 2015, Dailyhunt acquired Buyt.
In, a search engine that enables its users to discover, compare, and purchase products from a range of e-commerce portals.
The most prominent acquisitions of Dailyhunt are listed as: Acquiree Name Acquired Date Price Vebbler March 10, 2021 – Cognirel Feb 23, 2021 – LocalPlay June 20, 2019 – Buyt.
Why are Losses Piling Up? In 2015, he renamed Newshunt as Dailyhunt.
The name Dailyhunt was chosen because the app allows users to get daily news when searching determinedly.
These expenses would continue to grow even in FY21 and FY22 due to Josh, the short-form video app launched by Dailyhunt, according to the experts.
Though Dailyhunt was one of the early entrants in the market, today it faces strong competition in the market.
Commissions to selling agents – The company distributed commissions amounting to Rs 8.
Training and recruiting expenses – Additional amount of Rs 3 crore.
Miscellaneous expenses – This surged 54.
Legal and professional costs – Dailyhunt has to bear Rs 16.
Going by the income-expenses of the company, Dailyhunt had to spend Rs 2.
Dailyhunt – Competitors Though Dailyhunt was one of the early entrants in the market, today it faces strong competition in the market.
Inshorts directly competes with Dailyhunt in the news aggregation space along with the other applications of:NewsstandBusiness InsiderFirstPostNDTV Dainik BhaskarOn the other hand, the short video application of Dailyhunt, Josh competes with Moj by ShareChatMX TakaTakYouTube Shorts Dailyhunt – Future Plans Dailyhunt currently has spoken of its plans to reach 600 of 725 districts of India from its current presence in 400 districts.