to Rs 60 crore per annum, targets Rs 100 crore revenue rate by end of FY18-19
~Pioneer in short form branded content, Inshorts drives revenue through advertising and has 250+ advertisers on board~
National, December 04, 2018: Noida based content discovery and distribution platform, Inshorts posted 2X increase in its revenue rate in the last six months. The revenue run rate grew from Rs 30 crore to Rs 60 crore per annum.
Inshorts also posted EBITDA (earnings before interest, tax, depreciation, and amortization) positive growth in Q3 of this year. Coincidentally, the company’s total revenue till October is also Rs 60 crore since starting revenues in 2016.
Founded in 2013 by Azhar Iqubal, Deepit Purkayastha and Anunay Pandey, Inshorts is a content discovery and distribution platform that pioneers in short form branded content and launched its first ad in July 2016
Within four years of its inception, Inshorts became operationally profitable in November 2017, with revenue coming in through branded partnerships and sponsored content.
Inshorts’ unparalleled growth is driven by its top of the line premium users who look for the on-the-go accessibility to news. While a majority of users are from Tier I and Tier II cities, the app deeply engages with its audience across all demographics in India. As a brand, Inshorts understands the need of its fast-moving premium users and hence creates advertising solutions that do not compromise with user experience on the app.
Its unique and non-intrusive advertising formats such as the ‘60 word branded content’ which includes brand’s message in 60 words embedded with a picture or video have set benchmarks in the industry. Other popular advertising formats on the platform are designer/fact card and banner card ads. Observing the right synergy of these formats with the demographics that it is targeted at, advertisers find a lot of value in advertising with Inshorts as it gives them the right eyeballs that they crave for.
The innovative news format of 60 words together with in-depth personalisation through feeds and notifications, has become an all time hit with millennials. Additionally, with the development of an AI backed algorithm in the back-end, Inshorts has been able to attain greater efficiency by creating 10x number of articles. This technology has also helped in reducing inefficiencies in the system, enhance user experience thereby providing readers with a fast paced news summarisation platform
The company, which believes in user-friendly non-intrusive content distribution is now cornering sizeable share in the video advertising segment to suit the new age consumption patterns of millennials and has recently launched vertical video ads and digital magazine ads on its platform.
Encouraged by the success metrics Azhar Iqubal, Co-founder & CEO, Inshorts said, “In the current fast-paced environment, people want to explore more without investing much time on a particular subject. For this fast-paced generation, we have solved the problem of news with 60 words format. We believe that short format is the future for all kinds of content i.e. news, videos, opinions etc. and we’ll soon launch a short video platform to engage the next wave of internet users.”
Trusted by over 10 million app users, Inshorts is a go-to platform providing path breaking advertising solutions to some of the top notch brands like Mercedes, Vodafone, OnePlus, Netflix among other 250 brands and adding 10 advertisers every month.