Japanese News Reader App Gunosy Raises $12 Million in Funding

The Japanese News Reader App Gunosy Raises $12 Million in Funding News Reader Japanese telecom KDDI announced earlier this week that it had invested in Gunosy , a 3-year-old startup. The amount of funding and the terms of the deal have not been disclosed, but sources have estimated that it was in the range of $12 million to $14 million USD.

Gunosy was launched by three University of Tokyo graduate students (Yoshinori Fukushima, Yoshifumi Seki, and Koji Yoshida) in October of 2011.The app is reportedly designed to help readers process a story within 3 minutes, and according to the iTunes listing it has 1.7 million users in Japan.

Japanese News Reader App Gunosy Raises $12 Million in Funding News Reader

Its primary source of revenue at the moment are the ads and sponsored links which are placed before each summary or article. TechInAsia believes that this ad network, which launched in November 2013, is the main reason Gunosy raised such a large round of funding.

This is its 3rd round of funding, following a seed round from several investors including B Dash Ventures, as well as 2 earlier small funding rounds in February and July 2013.

 

 

Nate Hoffelder

View posts by Nate Hoffelder
Nate Hoffelder is the founder and editor of The Digital Reader: He's here to chew bubble gum and fix broken websites, and he is all out of bubble gum. He has been blogging about indie authors since 2010 while learning new tech skills at the drop of a hat. He fixes author sites, and shares what he learns on The Digital Reader's blog. In his spare time, he fosters dogs for A Forever Home, a local rescue group.

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