YourQuote is a mobile app (startup) available for free download on iOS and Android operating systems/platforms. The mobile app enables users to create and share short quotes or text content in English and 15 other languages. The startup announced yesterday (20/12/2017) that it has raised US $1 million in seed round of funding from IDG Ventures. An angel investor named Atul Goel from Essel City Group and the VC firm, Axilor Ventures are also reported to have participated in that round of funding. Read more on Investments
The startup also has an offline community of content creators who speak at the various Open Mike events organized by the startup throughout India. The startup so far has organized over 300 Open Mike events across the country. The startup will use the funds to venture into video-based content creation and further expand the presence of its Open Mike events throughout the country. The mobile app currently has around 500,000 active users and around 4.5 million posts/quotes. Harsh Snehanshu, co-founder of YourQuote, said that the startup will launch a new video creation and sharing feature on its mobile app by the end of December 2018. The new video creation and sharing feature is expected to enable users to create and share short one-minute videos within the app.
“If you look at the content sharing platforms available, most of them are web-first like BlogSpot, WordPress and others. And it’s not really made for creating content for mobile users and that’s the problem we are trying to solve. It’s too difficult to compose and create content on mobile using platforms that are tailored for the web. So we started off this platform a year ago, with a mobile-first approach”, Snehanshu said.
In app advertisements are a source of revenue for the startup.
“We believe we have the right product at the right time along with the right team to capture the vast vernacular market that has opened up thanks to Jio. The two categories, vernacular digital write-ups and digital video content, are fast-growing verticals and our team is perfectly poised to take on this opportunity”, Ashish Singh, chief technology officer (CTO) at YourQuote said.
The other media content startups to get funded this year (2017) include the media content startup, WittyFeed, which secured an undisclosed amount of Series funding from Sandeep Aggarwal, the founder of two firms namely: the used car marketplace, Droom and the e-commerce portal, ShopClues. The media content and entertainment startup, Pocket Aces, secured US $3 million in seed round of funding from VC firms like Sequoia Capital India, Aarin Capital, 3one4 Capital, Axilor Ventures and FreeCharge during December 2016 just to name a few. Read more on Startup News