When the pandemic hit, we weren’t sure where the world was headed. While our subscriptions held up firmly and we continued to add readers, we were keen to raise some additional money, just to ensure that if things got ugly, there was enough in the bank to hold fort. Wisdom is to err on the side of caution.
Thankfully, there are many who believe in our journalism, and our business model, and among them five new investors join our cap table today. They have invested in The Morning Context in their individual capacity:
- Prajit Nanu, co-founder and CEO, Nium
- Ashish Sanganeria, partner, Transearch India
- Abhishek Nag, director of business development, Netflix
- Arun Makkath, chief of staff, co-founder’s office, Grab
- Kapil Chopra, chairman of the board, Eazydiner and The Postcard Hotel
Our existing individual investors also participated in this round. We had last raised money in April, first in a seed round of funding by individual investors and second from the Google News Initiative Innovation Challenge.
The past few months have been the best in the short life of the company; we just completed a year just last week. Our reader base, both paying subscribers and free members, has grown rapidly. We now send out more than 350,000 emails—daily story updates, weekly and fortnightly newsletters—a month, a number that continues to climb.
We’ve been adding more than a hundred paying subscribers a week. It is a number we are extremely proud of because it is the validation and love of our subscribers which drives us to do better. And we do not take our subscribers for granted.
There’s a lot more in store for you in the coming weeks, and we can’t wait for you to see and read what we’ve put together.
Thanks again. You reading us means a lot to all of us at The Morning Context.