Virendra Gupta: The Maverick Founder Behind VerSe Innovations and Dailyhunt’s Success

In the world of entrepreneurship, rationality often takes a backseat, and Virendra Gupta‘s journey is a testament to this truth. Gupta, now 50, embarked on a remarkable entrepreneurial journey in 2007, defying statistics and market norms to bridge the digital divide in Tier III and beyond regions of India.

Gupta had a decade of experience in the corporate world, working for telecom giants like BPL Mobile, OnMobile, Bharti Cellular, and Trilogy. However, he couldn’t resist the compulsive idea of making a difference and ventured into uncharted territory. He was driven by a desire to offer information services over SMS and USSD (unstructured supplementary service data) to the underserved population. His goal was to provide services such as job listings, matrimonial information, property listings, and news through mobile devices. For five years, Gupta made substantial progress, providing services to mobile operators in India, Bangladesh, and various African countries. His venture thrived, boasting a large-scale, profitable business with billions of users. However, Gupta sensed a significant demand for local language content in the market.

In 2011, Gupta executed a pivot that took many by surprise. He acquired Newshunt, which delivered local language news content on mobile devices, shifting from a business-to-business (B2B) model to a business-to-consumer (B2C) approach. The move appeared irrational at the time, given the minuscule number of local language internet users. Back then, the internet was primarily associated with English-speaking users, and Gupta’s decision aimed to cater to the underserved Bharat, or Tier III and beyond regions. Gupta acknowledges that rationality often takes a backseat when embarking on an entrepreneurial journey. To him, it’s about being possessed by an idea, taking bold decisions, and leaping into the unknown. He emphasizes that the key is to ensure that these decisions are driven by the right reasons.

As the local language market exploded, Gupta felt the urgency to adapt to the changing landscape. He witnessed a transformation in the market as both Indian and global companies poured investments into the burgeoning Bharat segment. Although Gupta had initially chosen a more conservative and capital-efficient approach, he realized the need to embrace the rapid changes. In 2016, Gupta experienced a turning point in his entrepreneurial journey. He recognized the need for drastic changes and, subsequently, welcomed Umang Bedi, the former Facebook India head, as a co-founder in 2018. Together, they made bold decisions that led to phenomenal growth.

VerSe Innovations, the parent company behind Dailyhunt and Josh, secured substantial funding, resulting in a unicorn valuation of $3 billion. Dailyhunt boasts 350 million monthly active users (MAUs), while Josh has 124 million MAUs and 60 million daily active users (DAUs). Gupta believes that they have barely scratched the surface of their potential. Gupta’s key to success in a challenging market lies in identifying the right target audience. VerSe focused on the middle of Bharat, a segment with significant disposable income, aspirations, and a preference for local languages. While the average revenue per user (ARPU) in this segment may not be as high as English-speaking users, the vast volume of potential users translates to a massive total addressable market.

Virendra Gupta’s entrepreneurial journey exemplifies the spirit of venturing into the unknown with a compelling idea and persevering through bold decisions and adaptability. As he celebrates his 50th birthday, Gupta’s energy, passion, and unwavering commitment continue to drive his ventures forward.