Awesummly is an India's first real-time content summary product. Its USP is, it can summarize content from 22+ languages without doing any translation that too with zero manual effort. The company has launched its news summary app on
Play Store and also plans to go in other sectors as well. Awesummly has an enterprise model as well where it exposes its APIs like Summary API, Keyword extraction, Brand tracking on social media, sentiment analysis API to other business on freemium model. Awesummly was founded in July 2015.
Team BWDisrupt interacts with Nitin Mishra, CEO & Co-Founder, Awesummly and spoke to him
How did Awesummly started?In India, the major component of the total smartphone users are either working professional or businessmen who actually want to read their own personalized content but due to lack of time, they can't go through lengthy news articles. Being software engineers we could relate the same issue with us and decided to build a product which could summarize the live content of one's own interest and present it as personalized short content at real-time. This is how Awesummly was born. Awesummly is India's first real-time News summary product completely powered by Artificial Intelligence, which helps people to consume content of their own interest faster than anyone else. Our major audience is businessmen and working professionals who do not have much time but still want to stay updated with the latest news of their own interest quickly.
What are the special key features of Awesummly?Awesummly provides live news summary with recommended content personalized to one's own interest. All short news are well categorized and keep generated instantly whenever a new article gets published. People can also listen to the summary of content and use other features like night mode and bookmark to read later. They can easily share short news card as an image to their friends across all social platforms.
Offline reading and ability to disable HD images loading make it compatible to work even with slow connections. Users can also enjoy live cricket score and commentary and have the option to enable/disable push notifications for news feeds and cricket. They can also give us feedback from the app itself to help us understand their concerns or appreciations. Awesummly Android App is very lightweight (just 3 MB).
What challenges are you facing in running your business?Awesummly requires zero manual intervention throughout the process, from the personalized content discovery, summarizing it to publishing. Our proprietary algorithmic engine is powered by machine learning and NLP which keeps learning users' reading behaviour and interactions. The power of automating content discovery, summarization and publishing, has helped us a lot to reduce the content creation cost over other manual short news apps. Though we have cracked the complete process for 22+ international languages but still we are facing challenges with vernacular languages (Bengali, Tamil and Telugu etc.)
Also Read: Awesummly - Artificial Intelligence Based Content Discovering and Shortening App
Funding status and monetization modelWe have recently
got commitment of 1 Crore seed fund at the Vault show. We would be generating revenue primarily from sales of summarization API, Keyword extraction API, Keyword tracking to help businesses know the activity of their competitors, sentiment analysis API and personalized short news feeds to businesses. We also have plan to put sponsored content and personalized native ads based on consumer profiling on the app.
Market size and opportunityThere are 1.5 billion smartphone news readers and 26 million brands and companies generating the content on daily basis across the globe. At early stage, we are trying to tap the Indian smartphone news readers of age group 18-27, which are approx. 84 million in number.
What has been the biggest learnings so far?When we launched our beta we launched it for multiple countries and we were focussing just on website. Our biggest learning has been to focus on just one country because it is not easy do marketing at once at early stage. Also, we realized we should focus more on App rather than just website. It will also help us scale faster across multiple countries so that we could tap a good market in just couple of years.
What are you future plans and expansion plans?In future, we would be expanding to multiple countries and would be focussing more on automating short videos, gifs generation apart from short news generation across the globe.
What are the traction details?We have generated 1 million short news using our machine intelligence at real-time. As of now, we have 24K installs on Android app which has 4.6+ rating on Play Store.
