India is rapidly excelling in the world of startups, with over 100 unicorn startups in the country. This is the story of Azhar Iqubal, the founder of Inshorts, who dropped out of IIT and used a Facebook page to build a Million-dollar company. Inshorts was founded in 2013 by three friends from IIT – Azhar Iqubal, Deepit Purkayastha, and Anunay Arunav. Inshorts is a news aggregator company that presents all major news in just 60 words.
The Beginning of the Inshorts Success Story
In 2013, Azhar Iqubal, Deepit Purkayastha, and Anunay Arunav, three friends studying at IIT, started a Facebook page that garnered a great response. This led them to develop the Inshorts application, which delivered all the world news in just 60 words. The idea emerged when the trio noticed the increasing use of the internet, and the need for quick and concise news delivery.
Massive User Base and Valuation
Currently, Inshorts has over 10 million downloads and more than 50 million active users on their platform. Their success stands as a solution to the challenge of keeping up with current news in a fast-paced world.
Becoming a Multi-Million Dollar Company
Through hard work and dedication, Azhar Iqubal, Deepit Purkayastha, and Anunay Arunav have propelled Inshorts to a valuation of over 3700 crores. Their company has received significant funding in various rounds, totaling more than 119 million dollars.
Overview of Inshorts Success Story
- Startup Name: Inshorts Medialab Private Limited
- Founder: Azhar Iqubal, Deepit Purkayastha, and Anunay Arunav
- Headquarters: Uttar Pradesh, India
- Revenue (FY 2022): $18.9 Million
- Official Website: https://inshorts.com/
| Key Metrics | Details |
|---|---|
| Founded Year | 2013 |
| Company Stage | Series D |
| Total Funding | $119M |
| Employee Count | 696 as of Aug 31, 2023 (View historical trend) |
| Valuation | $550M as of Jul 15, 2021 |
| Annual Revenue | $18.9M as of Mar 31, 2022 |
| Competitor Rank | 1st out of 364 competitors with a Tracxn Score of 70/100 |
| Acquisitions | Inshorts has not made any acquisitions yet |
| Investments | Inshorts has not made any investments yet |
Conclusion
In conclusion, the success story of Inshorts is an inspirational example of how three friends from an Indian IIT college started a news aggregator company with just a Facebook page. Through their platform, they addressed the need for concise news in a time when internet usage was on the rise. Today, Inshorts is a well-known company with over 50 million active users and a valuation of over 3700 crore rupees. Their journey from a simple Facebook page to a successful startup showcases the potential of innovation and determination in the world of startups. This success story serves as an inspiration for aspiring entrepreneurs and highlights the impact of technology in creating opportunities for success.
