Nearfox

NearFox
Type of business Private
Founded February 2015 (2015-02)
Mumbai, India
Area served Mumbai, Delhi, Bangalore
Founder(s) Kiran Patil, Pritesh Mittal
Services Lifestyle City Discovery Platform
Website nearfox.com
Current status Online

NearFox is a lifestyle and news platform that publishes local content to their users in India.[1] Based in Mumbai, the startup focuses on the cosmopolitan cities of Mumbai, Bangalore and New Delhi. The company covers topics such as entertainment, travel, food, fashion and upcoming events in the cities.[2]

History

NearFox was founded in 2015, by two IIT Bombay graduates.[3] Kiran Patil, a 2004 IIT Bombay graduate has already founded Organic Facts, a website with a monthly traffic of 3 million. He worked as Head of Sales at Chaupaati Bazaar before starting NearFox. Pritesh Mittal is a 2014 IIT Bombay graduate, who worked at JPMorgan Chase before getting together with Kiran.[4]

Both Kiran Patil and Pritesh Mittal started the company to "solve (the) massive information asymmetry that exists in the local lifestyle segment." Although starting small, NearFox now has 2.5 lakh visitors each month, with the website traffic increasing 6 fold in 2016. They claim to have not spent on marketing, and that their efforts were organic.[5]

Funding and investments

In August 2016, the company managed to raise an undisclosed amount from Globevestor Angel Fund, Coverfox CTO Devendra Rane, GenY Medium co founder and Ex-Principal of Ventureast Ravi Jain and Craftsvilla Products VP Arpan Nagdeve among others.[6] The company plans to use these funds to expand their team and also launch in New York City. Recently, Ankur Shrivastava, Co-founder of Globevestor said, "A huge untapped opportunity exists in the localization and personalization of content, especially on local news and discovery."[7]

Coverage

NearFox has been covered by news platforms like TechPortal,[8] India Today,[9] Business Standard[10] and Economic Times.[11]

References

  1. ↑ Srinivasan, Supraja. "NearFox raises angel funding, plans overseas expansion". tech.economictimes.indiatimes.com. Retrieved 2016-09-05.
  2. ↑ Suthar, Jeet. "Lifestyle discovery platform NearFox raises seed fund to expand to other geographies". thetechportal.com. Retrieved 5 September 2016.
  3. ↑ "NearFox raises funds from angel investors". indiatoday.intoday.in. Retrieved 5 September 2016.
  4. ↑ Das, Asish (25 August 2016). "Local Lifestyle Discovery Platform NearFox Raises Funds From A Group Of Investors". thestartupjournal.com. Retrieved 5 September 2016.
  5. ↑ Mishra, Aparna. "Lifestyle Content And Discovery Platform NearFox Raises Funding From Globevestor Angel Fund, Angel Investors". inc42.com. Retrieved 5 September 2016.
  6. ↑ Srinivasan, Supraja. "NearFox raises angel funding, plans overseas expansion". tech.economictimes.indiatimes.com. Retrieved 2016-09-05.
  7. ↑ "NearFox Intends to Enlarge its Footprint Globally with the Latest Proceeds". startupcity.com.
  8. ↑ Suthar, Jeet (25 August 2016). "Lifestyle discovery platform NearFox raises seed fund to expand to other geographies". thetechportal.com. Retrieved 5 September 2016.
  9. ↑ "NearFox raises funds from angel investors". indiatoday.intoday.in. Retrieved 5 September 2016.
  10. ↑ "NearFox raises funds from angel investors". business-standard.com. 25 August 2016. Retrieved 5 September 2016.
  11. ↑ Srinivasan, Supraja. "NearFox raises angel funding, plans overseas expansion". tech.economictimes.indiatimes. Retrieved 2016-09-05.

External links

This article is issued from Wikipedia - version of the 9/17/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.