Dailyhunt currently monetises using static and video ads displayed on its mobile app and its web app. In addition, the TAM of the start-up was more alluring to potential VCs and PEs given that it is present in three different markets including social media, news aggregation, and the advertising business. Bedi said that Dailyhunt is currently an annual revenue run rate of $128 million, breaking even on an Ebitda level, which in turn attracted potential investors. Umang Bedi, the second co-founder of the company told FE that after the company closed an earlier round worth $450 million in August 2021, the start-up began receiving inbound interest from new investors. And in the future, every dollar that we spend on acquisitions would be primarily based on our profitability targets,” added Gupta.ĭailyhunt’s largest funding round was however closed within just a 4-month timeline, despite private market investors turning more prudent with their portfolios post the pandemic. ![]() To date, we have done around 15 acquisitions. “We are going to be very prudent with our capital deployment into M&A activity and we would only consider this option if it is proven to raise our tech or revenue capability, or if it increases our total addressable market size (TAM). Gupta told FE that a chunk of this capital would also be deployed in mergers and acquisitions in the next few quarters. ![]() This was the largest funding round closed by any tech start-up this year, overtaking edtech decadron Byju’s $800 million fundraise announced in January 2022. Climate change: Tech has many irons in fire to aid sustainabilityĭailyhunt’s parent company VerSe Innovation recently announced an $805 million fundraising last week at a valuation of $5 billion.
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