Dailyhunt parent VerSe Innovation to lay off 350 amid broader restructuring

IANS May 17, 2025 333 views

VerSe Innovation, the parent company of Dailyhunt and Josh, is restructuring its workforce by laying off 350 employees to enhance operational efficiency. The company aims to accelerate its focus on artificial intelligence and reduce operational costs, with a goal of achieving profitability by the end of FY25. By investing in AI-led tools like NexVerse.ai and Dailyhunt Premium, VerSe is positioning itself for significant growth in the digital media landscape. The strategic transformation includes cross-leveraging talent and automating manual processes to drive future success.

"Strategic transformation to build a more agile, focused, and future-ready organisation" - VerSe Innovation Spokesperson
New Delhi, May 17: VerSe Innovation, the parent company of content platform Dailyhunt and short-video app Josh, is set to lay off approximately 350 employees this month as part of a broader restructuring effort.

Key Points

1

Company plans 75% revenue growth in FY25

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Slashes EBITDA loss by 51% in past fiscal

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Investing heavily in AI-driven platforms

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Streamlining workforce across business units

The move is aimed at streamlining operations, boosting efficiency, and driving profitability as the company accelerates its focus on artificial intelligence (AI).

In a statement on Saturday, a company spokesperson said that VerSe Innovation is undergoing a “strategic transformation to build a more agile, focused, and future-ready organisation.”

“The restructuring is part of a broader, well-thought-out plan that includes investing heavily in AI, aligning the company's structure with long-term goals, and focusing resources on high-growth areas,” the spokesperson added.

As part of the overhaul, VerSe is automating many manual processes to improve operational efficiency and keep pace with global digital trends.

“The company will streamline its workforce by approximately 350 roles this month,” the spokesperson said, adding that talent will be cross-leveraged across business units to ensure better utilisation of resources.

The company emphasised that these measures are designed to pave the way for profitability by the end of FY25.

In FY24, VerSe made significant progress on this front, slashing its EBITDA loss by 51 per cent -- from Rs 1,448 crore in FY23 to Rs 710 crore.

It attributed this reduction to strategic cost management, including cutting down on service and marketing expenses. Total revenue for FY24 stood at Rs 1,261 crore.

Looking ahead, VerSe is optimistic about its growth trajectory. It projects over 75 per cent revenue growth in FY25, far outpacing the estimated 10-15 per cent growth expected in India’s digital advertising sector.

This bullish outlook is backed by investments in new AI-led tools and platforms, including its AdTech initiative NexVerse.ai, the subscription-based Dailyhunt Premium (launched in partnership with Magzter), and VerSe Collab, which supports influencer campaign management.

Reader Comments

R
Rajesh K.
Sad to hear about the layoffs but understandable from business perspective. Indian startups need to focus on profitability after years of burning cash. Hope affected employees get good severance packages. AI is the future but human cost is painful 😔
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Priya M.
As someone who uses Dailyhunt daily, I'm worried this might affect content quality. AI can't replace human curation completely. The regional language coverage is what makes it special - hope that doesn't get compromised in this "restructuring".
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Amit S.
️Startup life in India is becoming unstable. First PayTM, now Dailyhunt. Young professionals take note - job security in tech startups is a myth. Better to join established companies unless you're ready for this uncertainty.
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Sunita R.
Cutting 350 jobs to focus on AI? Sounds like corporate jargon to me. Dailyhunt was doing fine as regional content platform. Why chase global trends blindly? Not every Indian app needs to become AI-first. Stick to your strengths!
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Vikram J.
The numbers show they're moving in right direction - reducing losses by 51% is impressive. If AI helps them compete with global players while serving Indian languages, it's worth short-term pain. Make in India should mean compete globally!
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Neha T.
My cousin worked at VerSe for 2 years. Just got the call today. Devastating for middle-class families who depend on these salaries. Companies should have better planning before mass hiring and then firing. Responsibility goes both ways.

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VerSe Innovation Dailyhunt Josh App AI Technology Startup Layoffs Digital Media Indian Tech