Magzter

Magzter Inc
Private
Industry Digital publishing
Founded 2011 (2011)
Founder Girish 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)
Website www.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 headquartered in New York and it has international sales office locations in London, Paris, Amsterdam, Singapore, Barcelona, Munich, Cape Town and India.

History

Girish Ramdas the company's CEO, and Vijayakumar Radhakrishnan, the company's President, founded Magzter in 2011.[3] Before the company's founding, the two managed an IT company in Chennai, India.[1] Ramdas ran Dot Com Infoway Ltd., a software development company, and a magazine media company at the time.[4] In 2009, they created an iPhone app for South India's first English language movie magazine, Galatta Cinema.[5][6] 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.[7] In September 2012, Magzter was listed The Highest Grossing App in Asia on the Apple Store.[8][9]

In July 2013, Magzter entered into a collaboration with Amazon's Kindle Fire and introduced books to their publishing platform in September 2013.[3][9][10][11][12][13] The company also completed its Series B funding round that year. The round raised $10 million, led by Singapore Press Holdings Ltd. and Kalaari Capital.[6][14][15][16] In October 2014, Magzter named Abe Cytryn, former CTO at Time Inc., as its new Chief Technology Officer.[17] 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.[18] Additionally, the company also has Magzter Lite that allows unlimited access to five titles.[19][20]

Business Operations

Magzter has magazines from the United States, the United Kingdom, Europe, China, Hong Kong, 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 175+ countries.[7][14][16] By May 2015, Magzter had amassed 29+ million readers.[21][22] Its headquarters are located in New York and sales offices and teams are located in the United Kingdom, France, Germany, South Africa, Singapore, and India. In July 2013, the company had 50 employees.[23] It has applications available for iOS, Android, Windows 8, and is accessible from Magzter's website.[12]

Business model

Magzter participates in a revenue share model with publishers on magazine sales.[5][24] Publishers have the ability to add or edit advertisements from their printed editions, and receive all ad revenue.[7][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 2 3 "'Zter'ing the pot". Business India. January 6–19, 2014.
  2. 1 2 Hans, Pritam P (August 2012). "Boot in Profits". Business Today. Retrieved 11 June 2014.
  3. 1 2 "Digital magazine store Magzter thinks big, raises $10 mn". Firstbiz. 12 December 2013. Retrieved 11 June 2014.
  4. ↑ "The faces behind India's biggest online businesses". Youth Incorporated. August 2013.
  5. 1 2 Mascarenhas, Anil (27 June 2012). "Vijayakumar Radhakrishnan, Co-founder & President, Magzter". IIFL. Retrieved 11 June 2014.
  6. 1 2 "Digital mag store Magzter raises US$10M in Series B funding". Yahoo! Finance. 11 December 2013. Retrieved 11 June 2014.
  7. 1 2 3 Gulati, Sonam (9 May 2012). "Excl: Digital magazine store Magzter raises Series A funding from IndoUS Venture Partners; To enhance offerings manifold". Techcircle. Retrieved 11 June 2014.
  8. ↑ "Net Flux: Magazine Mania". India Today. 24 December 2012. Retrieved 11 June 2014.
  9. 1 2 "Magzter Is #1 On The Apple App Store!". EFY Times. 27 November 2012. Retrieved 11 June 2014.
  10. ↑ "Girish Ramdas of Magzter is CIOL Person of the Year". CIOL. 28 December 2012. Retrieved 11 June 2014.
  11. ↑ "Digital magazine store Magzter raises $10 million". The Times of India. 12 December 2013. Retrieved 11 June 2014.
  12. 1 2 Law, Abhishek. "Magzter trains its eyes on BRICS for more readers". The Hindu Business Line.
  13. ↑ "Tablets on the rise; app developers rejoice!". CIOL. 30 July 2013. Retrieved 11 June 2014.
  14. 1 2 Narasimhan, T E (11 December 2013). "Digital magazine store Magzter raises $10 mn from Singapore Press Holdings". Business Standard. Retrieved 11 June 2014.
  15. ↑ "SPH invests in global digital magazine store". Asia One Business. 14 December 2013. Retrieved 11 June 2014.
  16. 1 2 Etherington, Darrell (11 December 2011). "Digital Magazine Startup Magzter Raises $10M To Fuel Global Growth". TechCrunch. Retrieved 11 June 2014.
  17. ↑ Rondon, Michael (9 October 2014). "Digital Newsstand Preps Makeover with Former Time Inc. CTO". Folio. Retrieved 28 October 2014.
  18. ↑ "Magzter Gold".
  19. ↑ Anthony Ha (January 19, 2015). "Magzter Launches Magzter Gold, Offering Unlimited Access To 2,000+ Magazines". TechCrunch. Retrieved January 31, 2015.
  20. ↑ Nathan Olivarez-Giles (January 19, 2015). "Magzter Gold Offers 2,000 Magazines for $10 a Month". Wall Street Journal. Retrieved January 31, 2015.
  21. 1 2 Wasserman, Todd (27 February 2013). "Magzter Wants to Be the YouTube of Magazines". Mashable. Retrieved 11 June 2014.
  22. ↑ "Time Inc.'s Abe Cytryn Joins Magzter as Chief Technology Officer". Retrieved 28 October 2014.
  23. ↑ "New -Age Kiosk". Outlook Business. 20 July 2013.
  24. ↑ Vijayakumar, Sanjay (29 June 2012). "Magzter: A digital magazine store & newsstand application for smart devices". The Economic Times. Retrieved 11 June 2014.
  25. 1 2 Koetsier, John (30 May 2013). "Magzter passes 10M users, moves to NY, and signs up 20 new titles, including National Enquirer, Shape". VentureBeat. Retrieved 11 June 2014.
  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. Retrieved 11 June 2014.
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