Company:Magzter

From HandWiki
Magzter Inc
TypePrivate
IndustryDigital publishing
Founded2011 (2011)
FounderGirish Ramdas, Vijayakumar Radhakrishnan
Headquarters
New York City
,
United States
Area served
International
Key people
Girish Ramdas (Co-Founder & CEO)
Vijay Radhakrishnan (Co-founder and President)
Number of employees
50 (July 2013)
Websitewww.magzter.com

Magzter is a cross-platform, self-service, global digital magazine newsstand with over 8,000 magazines from 3,400+ publishers.[1] Girish Ramdas and Vijayakumar Radhakrishnan founded Magzter in 2011.[2] The Company is headquartered in New York City .

History

Girish Ramdas the company's CEO, and Vijayakumar Radhakrishnan, the company's President, founded Magzter in 2011.[3] In 2010, Radhakrishnan began the development of a platform to digitally publish magazines and provide access to consumers to the magazine store's app launch in mid-2011.[1][2] In 2012, Magzter completed its Series A funding round.[4] In September 2012, Magzter was listed The Highest Grossing App in Asia on the Apple Store.[5][6]

In July 2013, the firm entered into a collaboration with Amazon's Kindle Fire and introduced books to their publishing platform in September 2013.[3][6][7][8][9][10] The company also completed its Series B funding round that year, which raised $10 million.[11][12][13][14] In early 2015, Magzter launched Magzter Gold, an all-you-can-read subscription model, similar to Netflix or Spotify, that currently provides unlimited access to over 107,000 issues of 3,750+ magazines.[15] The company also has Magzter Lite, that allows unlimited access to five titles.[16][17]

Business operations

Magzter distributes magazines from the United States, the United Kingdom, Europe, China, Hong Kong, Canada, Australia, Sri Lanka, South Africa, Indonesia, India, Thailand, the Philippines, Malaysia, and Singapore. The company works with 3,400 publishers in more than 50 languages from over 175 countries.[4][12][14]

In July 2013, the company had 50 employees.[18] The app is available on iOS and Android devices.[9] In 2015, the company added over 1,500 titles to its roster.[19] Publishers distributed by Magvii include Hearst, American Media, Inc., Newsweek, Condé Nast, Dennis Publishing, Haymarket, Media24, Edipresse, India Today Group, WorldWide Media, Black Enterprise, Singapore Press Holdings and Grupo Expansión.[20] By May 2015, Magzter had amassed over 29 million readers.[21][22] Its headquarters are located in New York and sales offices and teams are in the United Kingdom, France, Germany, South Africa, Singapore, and India.

Business model

Magzter participates in a revenue share model with publishers on magazine sales.[23][24] Publishers have the ability to add or edit advertisements from their printed editions, and receive all ad revenue.[4][25][26] The company also provides publishers with sales reports and customer contact information.[21][27] Magzter also uses an automated cloud service to upload magazines.[25]

References

  1. ↑ 1.0 1.1 "'Zter'ing the pot". Business India. January 6–19, 2014. 
  2. ↑ 2.0 2.1 Hans, Pritam P (August 2012). "Boot in Profits". Business Today. http://businesstoday.intoday.in/story/bootstrapping-your-business-venture-on-the-net/1/186474.html. 
  3. ↑ 3.0 3.1 "Digital magazine store Magzter thinks big, raises $10 mn". Firstbiz. 12 December 2013. http://www.firstpost.com/business/digital-magazine-store-magzter-thinks-big-raises-10-mn-1283461.html. 
  4. ↑ 4.0 4.1 4.2 Gulati, Sonam (9 May 2012). "Excl: Digital magazine store Magzter raises Series A funding from IndoUS Venture Partners; To enhance offerings manifold". Techcircle. http://techcircle.vccircle.com/2012/05/09/excl-digital-magazine-store-magzter-raises-series-a-funding-from-indous-venture-partners-to-enhance-offerings-manifold/. 
  5. ↑ "Net Flux: Magazine Mania". India Today. 24 December 2012. http://indiatoday.intoday.in/story/what-is-new-on-web/1/237904.html. 
  6. ↑ 6.0 6.1 "Magzter Is #1 On The Apple App Store!". EFY Times. 27 November 2012. http://efytimes.com/e1/95395/Magzter-Is--On-The-Apple-App-Store. 
  7. ↑ "Girish Ramdas of Magzter is CIOL Person of the Year". CIOL. 28 December 2012. http://www.ciol.com/ciol/news/154989/girish-ramdas-magzter-ciol-person-year. 
  8. ↑ "Digital magazine store Magzter raises $10 million". The Times of India. 12 December 2013. http://articles.timesofindia.indiatimes.com/2013-12-12/internet/45120525_1_vijayakumar-radhakrishnan-kalaari-capital-series-b-funding. 
  9. ↑ 9.0 9.1 Law, Abhishek. "Magzter trains its eyes on BRICS for more readers". The Hindu Business Line. http://www.thehindubusinessline.com/todays-paper/tp-oncampus/Magzter-trains-its-eyes-on-BRICS-for-more-readers/article20714924.ece. 
  10. ↑ "Tablets on the rise; app developers rejoice!". CIOL. 30 July 2013. http://www.ciol.com/ciol/news/192620/tablets-rise-app-developers-rejoice. 
  11. ↑ "Digital mag store Magzter raises US$10M in Series B funding". Yahoo! Finance. 11 December 2013. http://sg.finance.yahoo.com/news/digital-mag-store-magzter-raises-us-10m-series-120444322.html. 
  12. ↑ 12.0 12.1 Narasimhan, T E (11 December 2013). "Digital magazine store Magzter raises $10 mn from Singapore Press Holdings". Business Standard India (Business Standard). http://www.business-standard.com/article/companies/digital-magazine-store-magzter-raises-10-mn-from-singapore-press-holdings-113121100552_1.html. 
  13. ↑ "SPH invests in global digital magazine store". Asia One Business. 14 December 2013. http://business.asiaone.com/news/sph-invests-global-digital-magazine-store. 
  14. ↑ 14.0 14.1 Etherington, Darrell (11 December 2011). "Digital Magazine Startup Magzter Raises $10M To Fuel Global Growth". TechCrunch. https://techcrunch.com/2013/12/11/digital-magazine-startup-magzter-raises-10m-to-fuel-global-growth/. 
  15. ↑ "Magzter Gold". http://www.magzter.com/magztergold. 
  16. ↑ Anthony Ha (January 19, 2015). "Magzter Launches Magzter Gold, Offering Unlimited Access To 2,000+ Magazines". TechCrunch. https://techcrunch.com/2015/01/19/magzter-gold-launch/. 
  17. ↑ Nathan Olivarez-Giles (January 19, 2015). "Magzter Gold Offers 2,000 Magazines for $10 a Month". Wall Street Journal. https://blogs.wsj.com/personal-technology/2015/01/19/magzter-gold-offers-2000-magazines-for-10-a-month/. 
  18. ↑ "New-Age Kiosk". Outlook Business. 20 July 2013. 
  19. ↑ "Magzter Adds 20 Time Inc. Brands to Digital Newsstand" (in en-US). 2016-02-16. http://www.econtentmag.com/Articles/News/News-Item/Magzter-Adds-20-Time-Inc-Brands-to-Digital-Newsstand-109149.htm. 
  20. ↑ "Diverse Digital Newsstand"; Yahoo! Finance; February 11, 2016. Accessed September 16, 2019.
  21. ↑ 21.0 21.1 Wasserman, Todd (27 February 2013). "Magzter Wants to Be the YouTube of Magazines". Mashable. http://mashable.com/2013/02/27/magzter-youtube-of-magazines/. 
  22. ↑ "Time Inc.'s Abe Cytryn Joins Magzter as Chief Technology Officer". http://www.marketwired.com/press-release/time-incs-abe-cytryn-joins-magzter-as-chief-technology-officer-1956367.htm. 
  23. ↑ Mascarenhas, Anil (27 June 2012). "Vijayakumar Radhakrishnan, Co-founder & President, Magzter". IIFL. http://www.indiainfoline.com/Research/LeaderSpeak/Vijaykumar-Radhakrishnan-Co-founder-and-President-Magzter/34739859. 
  24. ↑ Vijayakumar, Sanjay (29 June 2012). "Magzter: A digital magazine store & newsstand application for smart devices". The Economic Times. http://articles.economictimes.indiatimes.com/2012-06-29/news/32472630_1_magazine-industry-digital-format-digital-platform. 
  25. ↑ 25.0 25.1 Koetsier, John (30 May 2013). "Magzter passes 10M users, moves to NY, and signs up 20 new titles, including National Enquirer, Shape". VentureBeat. https://venturebeat.com/2013/05/30/magzter-passes-10m-users-turns-2-moves-to-ny-and-signs-up-20-new-titles-including-playboy-shape/. 
  26. ↑ "E-publishing gets easier and easier with new models". Hindustan Times. 16 July 2012. 
  27. ↑ Anjum, Zafar (22 July 2013). "Magazines in the Digital Age". TechAdvisor. http://www.pcadvisor.co.uk/news/mobile-phone/3460191/magazines-in-the-digital-age/. 

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