SmartNews Secures $230 Million in Funding to Compete with Apple News
Niko Pajkovic — June 20, 2022 — Tech
References: smartnews & techcrunch
SmartNews, an emerging Japanese news aggregation service, recently secured $230 million in Series F funding, bringing the company's total raised to over $400 million. This is a notably impressive development for the startup considering the highly competitive nature of the market that it has entered, which is dominated by some of the largest tech companies in the world, including Apple and Google.
SmartNews implements an advertising-based business model, which allows the company to offer its service for free. However, the service's most differentiating feature is its commitment to breaking "echo chamber" consumption. SmartNews offers a unique feature called 'News From All Sides,' which has been purposely developed to provide readers with access to a diverse range of news perspectives that, in theory, should curb the creation of personlaized "filter bubbles."
Image Credit: SmartNews
SmartNews implements an advertising-based business model, which allows the company to offer its service for free. However, the service's most differentiating feature is its commitment to breaking "echo chamber" consumption. SmartNews offers a unique feature called 'News From All Sides,' which has been purposely developed to provide readers with access to a diverse range of news perspectives that, in theory, should curb the creation of personlaized "filter bubbles."
Image Credit: SmartNews
Trend Themes
1. News Aggregation Competition - The rising competitiveness in news aggregation services is a disruptive innovation opportunity to offer unique features and business models to stand out in the market.
2. Diverse News Perspectives - The emergence of news aggregation startups like SmartNews catering to diverse news perspectives creates disruptive innovation opportunities to break away from personalized filter bubbles.
3. Advertising-based Business Model - The advertising-based business model of news aggregation services is a disruptive innovation opportunity to create user-friendly and effective advertising approaches.
Industry Implications
1. Tech Companies - The highly competitive nature of the news aggregation market has opened disruptive innovation opportunities for tech companies to offer better and diverse news services.
2. Digital Advertising - The commitment of news aggregation services to offer user-friendly advertising is a disruptive innovation opportunity for digital advertising companies to collaborate with these startups.
3. Media - The diverse news perspectives offered by news aggregation startups is a disruptive innovation opportunity for media companies to collaborate and improve the quality and diversity of news services.
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