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The Ken raises Series A funding of $1.5 million

Subscription-based news website The Ken has raised $1.5 million in a Series A funding round led by Omidyar Network. The round was also included a mix of existing and new investors, although it did not mention the investors, apart from Sid Yog, the founder and Managing Partner of The Xander Group Inc. The publication made the announcement in a blog post today. "For the April-June quarter, our revenues were up 200% over the comparable period a year ago, and up 100% the immediately preceding quarter," it said. The Ken also claimed to have become profitable in April. In February 2017, the raised $400,000 from individual investors including Aprameya Radhakrishna, co-founder of TaxiForSure, Girish Mathrubhootham, founder and CEO at Freshdesk, Pinstorm founder Mahesh Murthy, Shan Krishnasamy co-founder of Freshdesk, Paytm founder Vijay Shekhar Sharma and others. It isn't clear if any of these investors participated in the present round. The Ken was founded in 2016 by journalists Rohin Dharmakumar, Seema Singh and Ashish Mishra, and Deck App Technologies founder Sumanth Raghavendra. The publication provides one original narrative story each day, kept behind a paywall; one story a week is made free to read, and it’s worth noting that Paytm was the launch sponsor of the weekly free story. Note that we had reported in November that the Ken had raised funding from Vijay Shekhar Sharma, disclosed as a footnote to a story on Snapdeal. Vijay Shekhar Sharma has invested his personal capacity in media entities like Deal Street Asia, a publication…

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