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.



About Nate Hoffelder (10075 Articles)
Nate Hoffelder is the founder and editor of The Digital Reader:"I've been into reading ebooks since forever, but I only got my first ereader in July 2007. Everything quickly spiraled out of control from there. Before I started this blog in January 2010 I covered ebooks, ebook readers, and digital publishing for about 2 years as a part of MobileRead Forums. It's a great community, and being a member is a joy. But I thought I could make something out of how I covered the news for MobileRead, so I started this blog."

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