News discovery app SmartNews nabs another $38M, now valued at $500M-$600M
An app for aggregating news is considered more valuable than most individual publications it aggregates from.
The entirety of WaPo sold for half or less than the valuation of SmartNews. This is more than 25% the value of the NYT. This is worth 1/3rd the total valuation of BuzzFeed. All of Tronc, which owns the paper (LA Times) listed in the SmartNews preview image, has a market cap of $431.40M, $70-170 million less than this app.
What is their business model? Pulling in content and running their own ads against it, it seems.
As large platforms like Facebook and Apple position themselves as the new go-to places to read news, an independent app that started in Japan has landed a..
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