News and content app NewsHunt has bought BuyT, a product discovery and recommendation platform, which will be integrated with NewsHunt for delivering product recommendations to NewsHunt users, and help it improve its mobile advertising based monetization. At present NewsHunt’s monetization is based on driving transactions through enabling small content purchases via mobile operator billing. NewsHunt has its own carrier billing aggregation service called iPayy. NewsHunt had raised Rs 120 crore from Falcon Edge Capital, Matrix Partners, Sequoia Capital and Omidyar Network earlier this year. In March, it had acqui-hired Vautz, an analytics and design startup.
BuyT has a product discovery and recommendation platform called ContentLink, which allows the collation and curation of data from service providers like ecommerce stores and travel portals, analysis of digital content (articles, photos, videos and more), and using that to recommend deals, products and services to users. BuyT was founded by Yogesh Tomar and Biswanath Patel.
BuyT also brings with it client relationships, with online retailers like Flipkart, Amazon, Croma, Homeshop18, Jabong, Infibeam, Myntra, Zovi, Indiatimes Shopping, Paytm and Snapdeal, among others, and integration with content partners like NDTV, Jagran Post, India TV, fonearena, The Indian Express, The Times of India and Navbharat Times*. It powers native widgets with, according to its website, “highly relevant, real-time, contextual information”. On its website, the company claims to have click-through-rates on native ads, of 10%, which is remarkably high, and serving over 100 million recommendations per month, 3 million daily users transacting via ContentLink widgets, and 5 million clicks through the platform. It claims that it generates over Rs 300 crore gross merchandise value for e-commerce merchants.
NewsHunt claims that it has 20 million monthly active users, and 2.5 billion pageviews monthly. It also has a content retail business, and says that it has seen 15 million local language eBooks downloaded in the past 6 months. It’s likely that the platform will also be used to promote NewsHunt’s for-sale content to readers as well.
Disclosure: Times Internet and Paytm are advertisers with MediaNama