Founded in 2018, Ahmedabad-based NewsReach is a media-tech platform revolutionizing the local news industry. By partnering with rural and semi-urban newspaper publishers, reporters, and PGCs, NewsReach offers a digital platform to expand their reach and monetize their content. Its offerings include syndication tools, audience engagement tracking, and a marketplace for content licensing. NewsReach also focuses on strategic PR solutions and personalized strategies to empower local news creators.
NewsReach achieved an impressive 2X revenue growth in FY24, with revenue increasing to Rs 15.21 crore from Rs 7.61 crore in FY23. The company transitioned to profitability, reporting a net profit of Rs 16.24 lakh in FY24, a significant improvement from the Rs 65.14 lakh loss in FY23. The EBITDA margin also turned positive, improving from -7.37% in FY23 to 1.97% in FY24, while the ROCE improved to 1.14% from -17.12% in the previous fiscal year.
The company’s expenses grew by 82.2%, reaching Rs 15.05 crore in FY24 compared to Rs 8.26 crore in FY23. Advertisement costs saw a remarkable surge, accounting for 73.35% of total expenses in FY24, up from just 1.96% in FY23, reflecting an aggressive marketing push. Employee benefit costs decreased to 9.75% of total expenses in FY24 from 11.55% in FY23, while depreciation costs reduced to 0.27% of total expenses in FY24 from 0.90% in FY23. Finance costs increased marginally to 0.64% in FY24 from 0.28% in FY23.
NewsReach remains privately funded, with co-founders Darshan Shah and Soniya Kundnani holding 15.45% and 15.04% equity, respectively. Other significant stakeholders include Indiadotcom Digital Pvt Ltd (7.92%) and Hiren Kumar Shah (2.60%), with 2.19% allocated to an ESOP pool. The company is steadfast in its mission to create visibility and marketability for local news, contributing to the revival of India’s grassroots media ecosystem.