Inshorts: From A Facebook Page To A Rs.600 Crores Company
News insights from across the globe on one platform in just 60 words which is crisp and quick, is this not interesting and easy to go through for most of us? Categories like national, business, sports, technology and what not are displayed on Inshorts. The very famous Inshorts which started off as News In Shorts is a content discovery platform provider for both Android and iOS users.
So, how exactly did the idea of InShorts come to life? Like many other Facebook pages, Inshorts started off with the purpose of sharing information about the latest news. It was difficult to become popular by doing just the basic things. The founders of this interesting app came up with the idea of presenting news within 60 words and bang! This very simple yet unique idea changed the fortune of the masterminds behind this company.
The brainchilds of Inshorts includes Azhar Iqubal, Deepit Purkayastha and Anunay Arnav who back then decided to start off the firm during their last semester at IIT Delhi.
In an interview Azhar Iqubal said It was really easy to set up. Unlike other startups where it takes months to get off the ground, we were up and running in 3 days flat. The premise was deceptively simple they would provide their fans with snappy, 60 word updates of happenings around them.
It was initially available only in English, but they have recently launched in Hindi and based on its success, the app will soon launch in regional languages as well. During their college days, the three buddies observed that not many loved the idea of consuming news every day and came up with the idea of launching a news “in shorts.” Azhar along with his mates created a facebook page and in just a little span of time, they received an enormous interaction to the tune of more than 1,00,000 fans. Within a few months of the launch, the app fetched more than 10,000 downloads. Within a year, these entrepreneurs entered into the Forbes’ 30 under 30 lists, bagged the award for the Best Innovation App by the Internet and Mobile Association of India (IAMAI). Founded in 2013, this app now has more than 3 million downloads. The next step was obvious and the masterminds developed an app. By mid 2015, they had hit a 1 million users mark. Is that not huge?
To recreate the unique experience of reading a 60 words snippet, the news features an image as a card on the mobile screen. If readers would like to read the entire story, they can do so by following the link to a publisher’s website within the app. By the end of 2015, the ecommerce giant Flipkart showed keen interest in the idea of Inshorts and invested $ 4 millions. At the same time, Tiger Global Investors also invested a whopping $ 20 million dollars.
Inshorts generate around 140 stories a day. The user interface is simple yet attractive, the user just have to swipe to go through the latest news and happenings around the world. The app will soon incorporate multimedia like videos, infographics, podcasts, blogs and others.