Regional language news and content aggregator Dailyhunt is in talks to raise about $100 mn, seeking a valuation of $1.2 bn as it looks to cash in on the big jump in online content consumption following the coronavirus outbreak, sources said.
The round is likely to be led by existing investor US-based Falcon Edge Capital that recently raised $300-million India-focused fund, sources said. The deal could make the Bengaluru-based company India’s newest unicorn, a privately held firm valued at a billion dollars or more.
Run by Verse Innovation Pvt. Ltd, Dailyhunt aggregates content from newspapers and websites and is available in 13 languages, including Marathi, Gujarati, Tamil and Bhojpuri.It also offers original video content in Hindi and Telugu and a free live television streaming service in nine languages through strategic partnerships.