About Magzter
Magzter is a company based in Chennai (India) founded in 2011 was acquired by VerSe in April 2024.. Magzter has raised $13 million across 2 funding rounds from investors including VerSe, Singapore Press Holdings and Kalaari Capital. The company has 74 employees as of March 30, 2024. Magzter offers products and services including Digital Newsstand Platform. Magzter operates in a competitive market with competitors including Cafeyn, Readly, Zinio, PressReader and Ookbee, among others.
- Headquarter Chennai, India
- Employees 74 as on 30 Mar, 2024
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Sectors
Media & Entertainment
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Magzter Digital Private Limited
- Date of Incorporation 30 Jun, 2011
- Jurisdiction Chennai, Tamil Nadu, India
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Annual Revenue
$1.28 M (USD)1.4as on Mar 31, 2023
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Net Profit
$115.83 K (USD)4.59as on Mar 31, 2023
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EBITDA
$161.58 K (USD)7.22as on Mar 31, 2023
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Total Equity Funding
$13 M (USD)
in 2 rounds
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Latest Funding Round
$10 M (USD), Series B
Dec 12, 2013
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Investors
VerSe
& 2 more
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Employee Count
74
as on Mar 30, 2024
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Acquired by
VerSe
(Apr 18, 2024)
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Products & Services of Magzter
Magzter offers a comprehensive portfolio of products and services, including Digital Newsstand Platform. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Platform for accessing thousands of magazines and newspapers digitally.
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Funding Insights of Magzter
Magzter has successfully raised a total of $13M across 2 strategic funding rounds. The most recent funding activity was a Series B round of $10 million completed in December 2013. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Series B — $10.0M
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First Round
First Round
(01 Jun 2012)
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Dec, 2013 | Amount | Series B - Magzter | Valuation |
investors |
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| Jun, 2012 | Amount | Series A - Magzter | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Magzter
Magzter has secured backing from 3 investors, including venture fund and institutional investors. Prominent investors backing the company include VerSe, Singapore Press Holdings and Kalaari Capital. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Investments in early-stage technology companies are made by Kalaari Capital.
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Founded Year | Domain | Location | |
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News and lifestyle media platforms are provided across digital channels.
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Founded Year | Domain | Location | |
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Developer of a short-video platform and technology infrastructure
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Magzter
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Magzter
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Magzter Comparisons
Competitors of Magzter
Magzter operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Cafeyn, Readly, Zinio, PressReader and Ookbee, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Online platform offering multiple magazine reading solutions
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| domain | founded_year | HQ Location |
Digital magazines and newspapers are accessed via an online newsstand.
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| domain | founded_year | HQ Location |
Digital magazines from diverse publishers are distributed via multi-platform service.
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| domain | founded_year | HQ Location |
Digital newspaper and magazine aggregator
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| domain | founded_year | HQ Location |
Digital platform is utilized for newspapers and magazines access.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Magzter
Frequently Asked Questions about Magzter
When was Magzter founded?
Magzter was founded in 2011 and raised its 1st funding round 1 year after it was founded.
Where is Magzter located?
Magzter is headquartered in Chennai, India. It is registered at Chennai, Tamil Nadu, India.
Is Magzter a funded company?
Magzter is a funded company, having raised a total of $13M across 2 funding rounds to date. The company's 1st funding round was a Series A of $3M, raised on Jun 01, 2012.
How many employees does Magzter have?
As of Mar 30, 2024, the latest employee count at Magzter is 74.
What is the annual revenue of Magzter?
Annual revenue of Magzter is $1.28M as on Mar 31, 2023.
What does Magzter do?
Magzter was founded in 2011 in Chennai, India, as an online digital newsstand in the media and publishing sector. Access to magazines across categories such as entertainment, business, lifestyle, and fashion is provided, along with newspapers from various countries and regions. Operations are supported by a website at magzter.com and mobile applications for Android and iOS devices, enabling global user reach.
Who are the top competitors of Magzter?
Magzter's top competitors include Readly, Cafeyn and PressReader.
What products or services does Magzter offer?
Magzter offers Digital Newsstand Platform.
Who are Magzter's investors?
Magzter has 3 investors. Key investors include VerSe, Singapore Press Holdings, and Kalaari Capital.