Bloomberg reported earlier today that Tokyo-based Gunosy, the company behind the curation news app under the same name, has secured funds worth 1.2 billion yen ($12 million) from Japanese telco KDDI (TSE:9433), investment firm Jafco, and B Dash Ventures. This follows their previous funds worth $12 million from KDDI back in March.
Regarding the money raised back in March, the company used over 80% of it to broadcast a TV commercial to increase penetration of their news app among Japanese consumers. They recently launched the app in the US and UK markets over the last few months, and it is told that they plan to use the funds raised at this time to intensify their global promotion efforts. ...continue reading ...
The Bridge 6/23/2013 [en]
- Gunosy expects to reach 4 million downloads by the end of June thanks to advertisement including TV commercial. But still 4 million is far from a number to secure leading position in news curation apps. It is interesting to see how Gunosy uses the additional capital to increase the user base in addition to TV commercial .