Dailyhunt, which had diversified its offerings with a short video entertainment app Josh after TikTok’s ban in 2019, had really capitalised on the app to raise over $550 million, gain unicorn status and double its valuation to over $2 billion.
Now Dailyhunt has taken video to another level with the launch of a new app Publicvibe which provides hyperlocal video only updates across crime, politics, public issues, events in one’s location.
According to the app published under Eterno’s Play Store account, the app is available across Hindi, Telugu and English. Entrackr sources reveal that Publicvibe is currently operational in over 10 states including the Hindi speaking belt (MP, UP, Bihar, Jharkhand), Andhra Pradesh and Karnataka among others.
Publicvibe appears to be a clone of Inshorts’ hyperlocal video-only app Public which is available in about a dozen local languages. With its new offering, Dailyhunt will directly compete with the Tiger Global-backed firm.
According to sources, Dailyhunt had acquired Hyderabad-based Publicvibe in early 2020 and managed to keep it under wraps till now. Formerly known as NewsDistill, PublicVibe was founded in 2015 by former software engineer Narasimha Reddy Veeramreddy.
Publicvibe had raised $100K in its maiden round from Ganesh Narasimhan, Ramana Thumu and Sudhir Mallem. It had raised another tranche in May 2019 from Bikky Khosla and Prashant Pahade.
“The company has been working on Publicvibe since February this year and launched it somewhere in June in closed beta,” said one of the sources requesting anonymity.
PublicVibe has been downloaded over 5.4 million times, as per Sensor Tower data whereas its rival Public has over 135 million downloads.
Inshorts had launched Public in August 2020 and raised $60 million from Vy Capital and other existing investors including Lee Fixel’s Addition on the pitch.
Dailyhunt has declined to offer any comments at the time of publishing, including any denial.
Dailyhunt’s parent entity has raised $450 million in its Series I round co-led by Siguler Guff, Baillie Gifford and Carlyle Asia Partners. While the company didn’t disclose its valuation in the last round, it was roughly valued at over $2 billion, as per sources.
