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NewsPicks

The Japanese news aggregator (Userbase/Uzabase) at $826M market cap

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Key numbers

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$826MMarket capEP 69 · 5:29 · SAM · NewsPicks$50M/yrAnnual revenueEP 69 · 6:22 · SAM · NewsPicks

In the moments

2 linked receipts
Number

Userbase hit $826M market cap on just $5M raised

Sam explains that Japanese news aggregator Userbase reached an $826 million market cap before COVID despite raising only $5 million over roughly 10 years, an unusually capital-efficient outcome.

$826M
Market cap · USD
“Userbase is before the corona thing happened, they were publicly traded at $826 million market cap and they only raised $5 million to start and they're about 10 years old. So they raised a significantly, a very small amount of money for how big they got.”
EP 69 · 5:29 · SAM
Read at 5:29
mfmindex.com№ 0069-329
Number

NewsPicks: 150K subscribers, ~$50M revenue

Sam points to Japan's NewsPicks as proof that paid news aggregation can monetize far better than free Western apps: it does roughly $50 million in revenue off only 150,000 subscribers.

$50M
Annual revenue · USD/year
“they only have 150,000 subscribers, but they do something like $50 million in revenue.”
EP 69 · 6:22 · SAM
Read at 6:22
mfmindex.com№ 0069-382