The RP-Sanjiv Goenka group has picked up a 51% stake in the curated video news platform Editorji, the platform’s founder Vikram Chandra announced on Twitter on Wednesday. Chandra said that RPSG’s investment would help the company scale; financial terms of the deal were not disclosed. This is RPSG’s second foray into journalism — the group also owns OPEN magazine, which a magazine ad reseller website says has a circulation of 129,000. RPSG also owns Saregama, the music label that also makes Carvaan, the growing music player product.
Editorji was started in 2018 as a video news aggregator that relied on a mix of human and algorithmic curation, a model it continues to follow today. The Android app has had over a million installations according to the Google Play Store. The HT Media group, which runs the Hindustan Times, and Airtel, will also continue as investors in the company; HT Media had invested Rs 10 crore in the company in 2018, while Airtel had put in Rs 20 crore in 2018. Chandra said he would continue to be MD and run the service.
Editorji started with partners like ANI, BOOM Live, The News Minute, Jan Ki Baat, Northeast Mojo, and The Sentinel. While Editorji also runs original content at times, Chandra said that partnerships with third parties reduced content costs considerably. The app runs on ad revenue, and does not yet offer paid subscriptions. It is available in English and Hindi. It curates news based on viewer interests recorded during a joining survey and subsequently according to consumption patterns.