News Dog IndiaNews Dog India
TENENT invests $50 million in NewsDog, an application that is establishing itself as Toutiao in India.
Bytedance, an aggressive $30 billion technology enterprise in China, and its extremely addictive Toutiao News Aggregation application have started a quest for service with similar global upside. India, the second largest country after China with fast expanding broadband connections, is an evident place to look around and with NewsDog, a Chinese business that has tripped over India's triumph, a pretext was found for the Toutiao crow.
Today NewsDog announces a $50 million round of Series C, headed by China's online giants Tencent. The Toutiao is a China problem. It is one of the few new technical apps to be developed in a China where Tencent and Alibaba are dominating the consumers' application world.
In case it is now so majorstream that it has even encountered problems with China's web sensors. The Toutiao is basically a news aggregator that allows the consumer to explore their everyday readings and histories with an individual listening to them. This is NewsDog's unique approach, which has more than 50 million people.
It has ramified to cater for 10 of the many Indian language versions, while it has recently set up a web based system -'WeMedia' - that allows the user to enter a story. The round is an important landmark for the Group. It is the biggest fund-raising round for an Indian news application provider in a highly contested market, while Tencent, the $500 billion technology giants, comes on board with its expertise and assistance.
Further shareholders are the PRCs Danhua Capital (DHVC) and Legend Capital as well as the PRC mobil phone company DotC United. NewsDog's contest features Dailyhunt - supported by Toutiao proprietor Bytedance - Inshorts, which Tiger Global is one of its shareholders, and NewsPoint, which belongs to Times Internet newspaper company.
Another competitor is UC News, a UC Web based UC Web feature, which, like NewsDog, is Chinatel. Founded in 2016 by CEO Forrest Chen Yukun, a Tsinghua University alumnus, and Yi Ma, a Ph. D. from Princeton University, who previously worked at Baidu and Goldman Sachs.
Android is the country's leading OS, and NewsDog is the top news application on the Google Play Store in India, ahead of Dailyhunt and NewsPoint in second and third place respectively. NewDog is planning to use this new financing to stay ahead of the pack by concentrating on the addition of more language and expanding its contents libraries.
Toutiao said it already uses mechanized training to create a user-centric environment - the Chinese expertise Toutiao has - and is planning to cube it. With India's growing web populations, NewsDog aims to achieve 100 million subscribers as the next one.
According to a survey by the IAMAI ( "Internet and Mobile Association of India") and Cantar IMRB, the state is expected to have 500 million web surfers by June 2018. This is an increase from 481 million last year, but web usage in the countryside is only 20 per cent, as against 65 per cent in India's cities, which means even greater upside.
Tencent sees this as a further increase in his speed in India. Originally the business was slowly starting to raise funds for work in India, where Alibaba joined early to buy shares in the type of Paytm, but slowly Tencent has withdrawn his checks. His most noteworthy Indian-based offerings are WhatsApp challengers Hike, the health care portal Practo and the Gaana Juke.
Tencent will be hoping in NewsDog to hopefully catch the news aggregators move he misses in China, which gives Bytedance the chance to become an important China consumers group.