Verse Innovation

In the past, companies like DealShare, Byju’s, Dunzo and others have all given up their office space to bring down costs by a few crores, improve their financial health and increase their cash runway.

VerSe Innovation rejects revenue manipulation allegations, says it did $80 million business with Builder.ai

Bengaluru-based tech unicorn terms claims of round-tripping “false, defamatory and irresponsible”

Dailyhunt, Josh parent VerSe Innovation to lay off 350 employees amid AI pivot, cost cuts

The move comes amid a continued effort to streamline operations, cross-leverage talent across business units, and focus resources on growth segments, the company said in a statement on May 10.

Deloitte flags issues in Dailyhunt parent VerSe Innovation’s internal controls

Despite the adverse opinion, Deloitte maintained a “true and fair” view on the company’s financial statement

Dailyhunt parent VerSe Innovation halves EBITDA loss to Rs 710 crore in FY24

VerSe Innovation aims to achieve over 75% revenue growth in FY25, driven by its AI-first products and platforms. The company is targeting break-even in the second half of 2025

Dailyhunt parent VerSe Innovation acquires Valueleaf Group to bolster its ad exchange ambitions

VerSe Innovation estimates Valueleaf Group acquisition along with its Nexverse.ai business will contribute $100 million in revenues by FY25

Dailyhunt and Josh parent VerSe reverses pay cuts, expands ESOP pool

The company, which also laid off about 150 employees in November, had announced salary cuts of up to 11 percent for employees earning more than Rs 10 lakh amid worsening macroeconomic headwinds.

ShareChat parent's losses doubled to Rs 2,988 crore in FY22

Though an increase of nearly 331 percent YoY in revenue, the company has spent about Rs 3,407.56 crore to earn Rs 346.93 crore in revenue from operations in FY22

Short video app Chingari looks to expand into new markets in 2023, ramp up hiring

Chingari co-founder and COO Deepak Salvi said the platform plans to hire 400-500 people worldwide.

Dailyhunt and Josh parent VerSe lays off 150 staff, announces company-wide pay cuts

These measures were unveiled In a town hall meeting, addressed by the company’s co-founders Virendra Gupta and Umang Bedi.

Dailyhunt to make LinkedIn's news insights available on its app

As part of this partnership, Dailyhunt's English language users will be able to access LinkedIn News stories in their news feed.

Dailyhunt taps into Middle East’s $5 billion news aggregation market, expands operations to six new countries

VerSe Innovation, which runs Dailyhunt, has appointed media veteran Shekhar Iyer as its Director and General Manager for Middle East and North Africa

ByteDance exits Josh parent at 56% discount ahead of re-entry into India market

ByteDance received $102.67 million for its entire investment. Considering VerSe Innovation’s $805-million primary fundraise in April, which it raised at a valuation of $5 billion, ByteDance should have received about $232 million for its investment.

Dailyhunt parent VerSe Innovation raises a record $805 million at a valuation of $5 billion

The startup will use the money to strengthen its AI/ML capabilities and invest in new efforts such as live streaming and Web 3.0, giving it ammunition to battle local rivals such as ShareChat and global competitors such as Instagram and YouTube.

VerSe Innovation raises over $450 million funding from Siguler Guff, others

The series I funding also saw existing investors - Sofina Group, Qatar Investment Authority and BCap - also participating north of their pro-rata in this round, a statement said.

VerSe Innovation acquires photo and video sharing app Vebbler

This is the second acquisition in two weeks for VerSe Innovation which recently acquired AI-startup Cognirel Technologies.