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Cheetah Mobile acquires News Republic for $57M: report

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Chinese mobile company Cheetah Mobile (CM) has acquired News Republic, a French news app startup for $57 million, reports TechCrunch. The report states that CM plans to let News Republic operate as a standalone app. As of now, News Republic has an Android and an iOS app.

Note that News Republic had launched an India edition of its the news app and tech news app Appy Geek, in May last year. At that time, it appointed Radhika Shukla as News Republic’s India Country Director. It is unclear if the company will continue its India operations.

News Republic was founded by Gilles Raymond, CEO, in 2008. It currently seems to be hiring for business development directors for content acquisition in APAC, MEA, and LatAm, an operational developer and assistant product manager of applications.

The News Republic app is preloaded on devices like Samsung, HTC, Acer, Huawei, Wiko, Archos and Wolder and claims to have 1,650 media partners including Al Jazeera, AP, Bloomberg, CNET, Engadget, FP, HuffPost, Reuters and Guardian. Interestingly, some of CM’s apps also come preloaded on Samsung Galaxy phones, according to TechCrunch.

Cheetah Mobile’s ad operations; 40 million users in India:
In April this year, CM entered into a strategic partnership with Mumbai-based Ventes Avenues to expand its mobile advertising operations into India. In August 2015, it launched an ad tech platform in India with Flipkart, Uber, Amazon, and Booking.com as its global clients

Initially, the Cheetah Ad platform was launched in June 2015, when CM’s mobile apps and media ad network worked together. Then, Cheetah Mobile claimed to have 443.6 million monthly active users on its apps, of which India accounted for 9% (39.87 million). As of March 2016, the company had 651 million monthly active users globally. Some of its most popular apps include Clean Master, CM Security, Battery Doctor and Photo Grid. Read about its big data investment here.

Developments in the international online media space:
– Earlier this week, Fortune India launched a beta website for its magazine.
– Last month, we reported that US-based magazine Newsweek was planning to launch an India edition.
– In the same month, Times Group and Vice Media announced a partnership to launch an Indian version of Vice’s brand VICELAND as a paid TV network in India.
– In June, Gawker Media asked for permission from a US court to borrow $22 million from an affiliate of Cerberus Capital to help with its bankruptcy sale, after a Florida judge upheld a $140 million judgement against it in a legal battle with former professional wrestler Hulk Hogan.
– In the same month, Ooyala, the subsidiary of Australian telecom operator Telstra, expanded to India. Ooyala provides media logistics, video publishing and distribution, and advertising, with analytics support.
– In May, Turmeric Vision Private Limited, which owns the food channel FoodFood, sold a majority stake to Discovery Communications.

Also read: Boom or bust for digital journalism in India?

Our media coverage.

Image Credit: Andrew Smith under CC BY SA 2.0

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