THE MODEL: An app
which tries to reduce the information overload in news stories. It does so by summarizing
the news in bullet points and highlighting its timelines.
STARTUP: NewsBytes
(Indian startup)
WHAT I LIKE
Core Idea – Making
reading news easier for users is an upcoming space.
Value Addition – The
app using its back end engine and editorial team summarizes news stories and
makes it very easy to read and understand.
CONCERNS
Business Model – A
team is required to summarize different news stories, which will prove a big
cost for the startup and may impact its scaling potential. This will need to be
addressed either by outsourcing, tying up with different agencies or by incentivizing
individuals to do so.
Competition – I have seen a few startups who are entering
this space of simplifying news stories. Also newspapers can implement this
service in a much faster and cost effective way as they already have editorial
teams working on the news.
No comments:
Post a Comment
What do you have to say about this post?