Introduction to NewsBytes
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1) NewsBytes is a news digest app that provides summarized updates on the top 5 noteworthy news events each day using an automated web crawler and editorial team. 2) The app aims to serve young professionals looking to stay updated on current affairs but who lack time to read long articles. It provides summaries in both English and several Indian languages. 3) NewsBytes evolved from an earlier concept called MyNewsStudio. The team is now focused on expanding the supported languages and personalizing the news timelines based on individual interests.
Introduction to NewsBytes
- 1. NewsBytes Your Daily News Digest! June 2015
- 2. “Getting information off the internet is like taking a drink from a fire hydrant” – Mitchell Kapor 2 Available (what we have) Significant (what matters) Relevant (what is required) Decoding the Information on the Web Information Overload Noteworthy Happenings Our Playing Field
- 3. It is all about – content, presentation and relevance; presenting “Visual Contextualization of Information” 3 Product Design
- 4. Automated engine crawls through the web Editorial team picks up the 5 most important events 4 When humans and powerful computers work together, NewsBytes is born! Provides a list of noteworthy news events Creates a contextual timeline - string of related events Summarizes the events Process Flow Human Machine
- 5. Automated engine crawls through the web Editorial team picks up the 5 most important events 5 When humans and powerful computers work together, NewsBytes is born! Provides a list of noteworthy news events Creates a contextual timeline - string of related events Summarizes the events Process Flow (after 6 months) Human Machine
- 6. Our current target group is the youth, especially those who consider English to be an aspirational language 6 Target Group Characteristics Between 21- 27 years of age Looking for a career move In beginning of career – first/ second job Living in metros – originally from tier II/ III cities Target Group Behavior Requirements Consumes news to appear well-versed in current affairs Context for majority of news Lacks time and patience to read through long articles Summarized news Perceives English as an aspirational language and looking for social mobility Translation between regional language and English Works in metros and stays away from home Ways to connect with home
- 7. This idea has pivoted from MyNewsStudio to NewsBytes over 2 years… 7 Late 2012 Conceptualized MyNewsStudio June 2014 Signed first institutional contract Jan 2015 Started working on technology solution 2013 Launched for both B2B and B2C users End 2014 Recognized scalability issues Early 2014 Received extremely positive feedback for visual essays July 2014 Raised small round of investment Current status • Released the first version of NewsBytes app • Leverage ~15,000 user base of MyNewsStudio Product Timeline
- 8. …but the next few months would be game changer 8 11th June 2015 Released the first version of app 20th July 2015 Add first vernacular language- Hindi 15th August 2015 Add second vernacular language- Tamil 1st December 2015 Release API to publishing platforms Future Product Timeline 1st November 2015 Add the functionality to personalize timelines 15th September 2015 Add two more vernacular languages- Telugu and Gujarati
- 9. We face competition from both traditional and upcoming apps; our USP is our use of technology Inessential Information Machine Dependent Relevant Information with Context Highly Human Dependent 9
- 10. We are significantly different from our major competitors in the following three ways 10 We appeal to the basic human tendency of relating events and creating a back story We are not just a summarization tool! We are a technology company and news app is one of our use cases We are not a digital media company We plan to use technology and manual curation to enter the vernacular market We are not a regional newspaper aggregator Product Characteristics
- 11. The members of our team have both corporate as well as start-up experience Sripriya Yegneswaran • Alumna of IIT Roorkee and IIM A • Leads the content development • Worked with Booz & Co. Mr. Yogesh Andlay Mentor Co-founder, Nucleus Software 11 Mr. Pavan Kumar Strategic Investor 20+ years of experience Management Team Mentors & Investors Romesh Khaddar • Alumnus of IIT G and UNLV • Leads the technology team • Was previously working with Originate Shikha Chaudhry • Alumna of NIT Allahabad and Cornell • Leads the sales & marketing team • Has 4+ years of start-up experience GSF India Accelerator Part of 4th Batch Sumedh Chaudhry • Alumnus of IIT Roorkee and IIM A • Leads the overall operations • Was an investment banker Dr. Srikanth Sundararajan Mentor Venture Partner, Helion Ventures Ex-CTO, Cognizant