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InShorts Shuffles Leadership: Iqubal Steps Up as Chairman, Purkayastha Takes CEO Reins

News aggregator InShorts has announced changes to its leadership team. Azhar Iqubal, the co-founder and current CEO, will transition to the role of chairman. Deepit Purkayastha, also a co-founder, will step in as the new CEO, taking over from Iqubal.

The company has made several key appointments in 2022, including Nikhil Taneja as head of corporate development and investor relations, Pavit Singh Katoch as general counsel, and Abhijeet Ranjan as chief revenue officer of Public app.

Founded in 2013, InShorts provides concise summaries of news stories, covering topics such as politics, sports, tech, business, and entertainment, among others. The app boasts over 12 million active users and has partnered with over 1,500 brands for marketing campaigns.

In 2020, InShorts launched Public, a hyperlocal content platform that claims to have 70 million active monthly users. The company has raised $140 million to date, with investors including Vy Capital, Lee Fixel’s Addition, Tiger Global, SIG, A91, and Tanglin Venture Partners.

Iqubal and Purkayastha each own a 2.02% stake in InShorts, while the third co-founder, Anunay Pandey, owns 1.8%. Addition holds the largest external stake in the company, with 29%.

Despite its growth, InShorts reported a 9% increase in revenue from operations in FY23 compared to FY22, recording Rs 181 crore in revenue and a loss of Rs 310 crore. This is in contrast to FY22, when it saw nearly 45% revenue growth.


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