buzz feed: But a glimmer of hope is coming from a software company in Tokyo, according to The Japan Times. Smart News Inc. announced Monday a new investment valuing the business at 1.1 billion about 116.5 billion . ; That makes it the first unicorn startup in the news business since Buzz Feed and Vox Media Inc. achieved that status within a week of one another four years ago. Buzz Feed Inc. and Vice Media Inc., which defined a generation of news startups, dismissed hundreds of employees this year in cost-cutting maneuvers. Japan Post Capital, a fund managed by the national mail conglomerate, led the 28 million investment in Smart News. Smart News works with major publishers to offer each of its 20 million or so active users a custom news feed from various sources. The funds will not go toward hiring a bunch of reporters, though.
(news.financializer.com). As
reported in the news.
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