VerSe Innovation Pvt Ltd which owns and operates content and new app platform Dailyhunt today announced its foray into the global market, with the launch of the app in the Middle East countries. Dailyhunt is now available in the Middle East countries including UAE, Saudi Arabia, Bahrain, Oman, Qatar, and Kuwait with its headquarters in Dubai.
On Tuesday, Dailyhunt launched in the Middle East region with over 5000 content partners catering to the UAE market. The local language content platform will soon be partnering with news publishers including MENA Newswire, Al Khaleej, The Brew, Chalk Media, Brandknew, KKompany, Mudgal Kreations, Buzzing, Gulf Today, among others.
To spearhead Dailyhunt’s leadership in the MENA region, media veteran Shekhar Iyer has been appointed as Director and General Manager of VerSe Innovation, MENA.
In his previous stints, Shekhar has worked with Abu Dhabi Media (Radio Mirchi), Percept Gulf (MAME), Zee Entertainment, Indian Express, and Khaleej Times and in his new role, he will spearhead strategic and business development in the region.
“UAE is one of the world’s most vibrant economies and is experiencing an exponential phase of growth. There is a tremendous opportunity to tap into the unmet content needs of the Middle East market, given the rich linguistic diversity and an extensive news consumption behavior of the market. In this strategic growth plan, we will soon expand Dailyhunt in MENA countries including Iraq, Iran, Israel, and Egypt, and support languages like Hebrew, Farsi, and Arabic.” Umang Bedi, Co-founder, VerSe Innovation said in a statement.
“It is interesting to witness the end-user content growth in this region, and we are excited to see the impact that Dailyhunt creates in MENA. In addition to helping brands drive awareness, acquire users, and generate revenue, we are confident in enhancing the overall customer experience and deepening brand relationships. I look forward to building the largest local language content discovery platform for the MENA region,” Shekhar Iyer, Director and General Manager, VerSe Innovation, MENA added.
Dailyhunt’s expansion into the middle east market comes shortly after the firm said that it plans an initial public offering (IPO) within a two-three-year timeline. Dailyhunt’s IPO plans come at a time when several tech start-ups have been looking at the public markets for raising money and paving exits for their investors.
In an interview with FE last month, Dailyhunt’s co-founder Virendra Gupta said that the firm will work on creating an IPO ready business within the next two to three years with a focus on breaching the Ebitda profitability metric within the same timeline.
Since its launch back in 2007, Dailyhunt’s parent entity VerSe has raised around $1.5 billion in equity financing, making it one of the most funded content start-ups in the country alongside other competitors such as Sharechat, Chingari, Pratilpi, YourQuote, and others. Currently, VerSe owns and operates three social and content platforms including a TikTok clone named ‘Josh’, news aggregator ‘Dailyhunt’, and hyper-local video platform ‘PublicVibe’. Josh currently claims to have over 150 million MAUs (Monthly Active Users), while Dailyhunt claims to have more than 350 million. Additionally, PublicVibe serves over 5 million MAUs.
-Appoints Shekhar Iyer as the Director and General Manager for the Middle East and North Africa (MENA)
–Dailyhunt will soon be partnering with news publishers including MENA Newswire, Al Khaleej, The Brew, Chalk Media, Brandknew, KKompany, Mudgal Kreations, Buzzing, Gulf Today, among others.