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Goldman Sachs-backed Dailyhunt buys hyperlocal content platform LocalPlay
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Dailyhunt, an online platform which offers news and other content in Indian languages, has acquired hyperlocal-focussed peer LocalPlay for an undisclosed amount.

Dailyhunt, which is operated by Versé Innovation Pvt. Ltd, said in a statement that the acquisition would help boost its hyperlocal presence and improve its offerings to its core users in Tier-2 cities and beyond.

Launched last year, LocalPlay allows its users to follow news developments, videos, classifieds, events and announcements in Hindi.

According to the platform’s Google Play page, its Android application has been installed over one lakh times.

Dailyhunt

The company was launched as Newshunt by former Nokia executives Umesh Kulkarni and Chandrashekhar Sohoni in 2009 and sold to Versé in 2012. It was rebranded as Dailyhunt in August 2015.

Dailyhunt counts on a proprietary algorithm to deliver personalised news content. It offers news articles and other content licensed from thousands of partners in at least 15 languages. It also provides original video content in Hindi and Telugu and a free live television streaming service with more than 130 channels across nine languages.

In March, it was reported that Dailyhunt was raising $173 million (around Rs 1,224 crore) in a fresh round of funding from New York-based investment bank Goldman Sachs’ hedge fund.

In September last year, the company raised over $6 million (around Rs 42 crore then) in what was believed to be the first tranche of a larger Series E funding round from New York-based hedge fund Falcon Edge.

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