Verse Innovation, the company which operates the content aggregation app 'Dailyhunt', has picked up a minority stake for Rs 15 crore in Greynium Information Technologies, which runs popular websites like OneIndia, thatsCricket, Gizbot, DriveSpark, Boldsky, NativePlanet, Filmibeat, Goodreturns and CareerIndia.
While the deal will help Verse leverage its distribution platform to offer multimedia content, Greynium will expand into several other genres and create short format video and audio content.
"We intend to leverage Greynium’s strengths in content creation, expanding to video content going forward, on our platform to further augment our position as the destination of choice for a vernacular user," said Virendra Gupta, Founder & CEO of Verse Innovation.
Oneindia was founded in 2006, by BG Mahesh and provides news updates, sports events, travel, entertainment, business, lifestyle, videos, and classifieds. Rajesh Jain, who had a stake in Greynium acquired the company in 2010.
Both Jain and Mahesh were the architects behind Narendra Modi's digital strategy during the 2014 elections.
"Greynium has been a key player in the local languages space, and this position will be further strengthened by Dailyhunt’s reach across India. It also ties in well with our plans for producing video content in vernacular languages, which we expect to be the next big growth wave for us," said BG Mahesh, who is now the MD of Greynium.