News Search App SmartNews is Valued at $1.1 billion
The SmartNews app, which runs on artificial intelligence, is valued at $1.1 billion. SmartNews was founded in Tokyo in 2012, and now the application possesses more than 20 million active users per month. SmartNews shows crazy growth - 500% per year. AI selects the appropriate news for each user in the application, and the monetization of SmartNews consists of the sale of text and video advertising. SmartNews has approximately 400 US publishing partners, including the Associated Press and Bloomberg. It competes with companies such as Apple, which introduced Apple News + earlier this year, a subscribed news product, with access to over 300 magazines and newspapers for $9.99 a month.