Call recording for Android Phones (OnePlus 3)

If you are a journalist, you probably can’t live without call recording on your phone. Most Chinese Android phones come with call recording built in. But some phones these days (especially the costlier variants), don’t have it by default, because it is illegal in some countries to record calls.

I recently bought a OnePlus 3 and was horrified when I found that it can’t record calls. I’d been on a Xiaomi Mi 4i, which did the job perfectly fine. So I started trying out apps and finally settled on a brilliant call recording app called Boldbeast recorder. It is free to use.

The Boldbeast recorder has a slightly old school user interface and such but it does the job well. I just got off a call with my colleague and finished testing the app. The sound quality is also brilliant. No trouble. I also tried ACR Call Recorder and it didn’t work for me.

Pro tip: When you call someone on their mobile phone, it is reasonable to expect, that the conversation is between you and the person on the other line. That means it is a private conversation. But if you intend to use the recording, say publish a podcast, it is good practice to inform the person on the other line.




Our Next


When I quit The Economic Times last December to start a new media company with Pankaj, only one thing was clear. We wanted to tell great stories from the intersection of technology, culture, and life in India.

As technology becomes mainstream, it is impacting us in ways that we don’t fully understand yet. Our job is to try and understand technological changes and talk about people, ideas and trends that are causing these changes. To try and take a peek at the future and stay on top of new and cool things that will help our audience every single day.

We also thought

We want to play a role in shaping the future of digital media in India.

We want to create something beautiful and world-class for smart and curious people.

Work with an ‘A-team’ of journalists, designers and technologists and learn new skills.

Create an organisation that stands the test of time.

We’ve had a lot of support and are very close to launch– dotting the i’s and crossing the t’s right now. Our co-founder Titash is building some really cool stuff for us (meet Regina!). Meanwhile, if you’d like early access to our site, go ahead and sign up on FactorDaily. You can follow FactorDaily on MediumTwitter & Facebook.

And yes, we still love old school journalism.


Indian Media Startups that raised Funding in 2015

Like my list of media startups in India that raised funding in 2014, here’s the list for 2015. The list is a little bigger for 2015, which is a good thing.

The current year is likely to be better with new funds like the Independent and Public-Spirited (IPS) Media Foundation and Hindustan Times Accelerator supporting journalism related ideas.

Photo Credit: Rakesh.

Photo Credit: Rakesh.



The company started by journalist Chitra Subramaniam Duella (of the Bofors scandal fame) and Dhanya Rajendran (Ex-Times Now) has raised close to Rs 4 cr from Raghav Bahl’s Quintillion Media. The news site focusses on stories from the south and has over 1 mn views a month.


Quintillion Media, the company founded by television veteran Raghav Bahl & Ritu Kapur has invested Rs 4 cr in YouthKiAwaaz, a platform for India’s youth to voice their opinions.


Shradha Sharma’s YourStory which covers startups and entrepreneurship in India has raised Rs 15.5 cr from investors including Kalaari Capital, Qualcomm and the Pai Family.  Read my post on how YourStory was valued at $10 mn.

Deal Street Asia

Founded by journalist Joji Thomas Phillip, this isn’t exactly an Indian company because its HQ’ed in Singapore but will have a major presence in India. Its investors include HT Media and angels like Vijay Shekhar Sharma of PayTm.


This Buzzfeed clone has raised $4 mn (or about Rs 26 cr) from Kalaari Capital. The site which makes money by running native advertising has over 20 mn views. It was launched in 2013 and serves up viral content. ScoopWhoop’s previous round was a total of $1.5 million in September 2014 from Bharti Softbank.


Women’s fashion, beauty and lifestyle publication POPxo (Luxeva India Pvt Ltd ) raised $2 million in funding led by IDG Ventures, Kalaari Capital and 500 startups in November 2015. They’d raised Rs 3 cr in November 2014 from angels including Rajan Anandan of Google & Mithun Sacheti of Caratlane.


In July 2015, Newsinshorts (now InShorts) raised $20 mn from Tiger Global, the New York based firm which has backed the likes of Flipkart. It serves 60 word summaries of news stories to its users through an app.


In February, NewsHunt (now DailyHunt), raised $40.5 mn from Falcon Edge Capital and existing investors such as Matrix Partners and Sequoia Capital. The aggregator has raised multiple rounds of funding earlier and serves local language content to readers through an app. By far, this is the most successful Indian content aggregation app.

Media funding in 2016

If you are planning to start a media company of your own, 2016 is probably going to be a better year from a financing perspective. The Independent and Public-Spirited (IPS) Media Foundation, Hindustan Times Media Accelerator and Times Internet are likely to be the biggest backers of media companies in 2016. Kalaari Capital also seems to be building up a portfolio of media companies (2 in this list already!).

Couple of startups that are doing interesting stuff: News Laundry and Swarajya Magazine.


Read Stringer: A Reporter’s Journey in the Congo by Anjan Sundaram

A doodle of Democratic Republic of Congo from Anjan Sundaram's Book.

A doodle of Democratic Republic of Congo from Anjan Sundaram’s Book.

Earlier this month I quit The Economic Times to start my own media company. A colleague gifted me a book called Stringer: A reporter’s journey in the Congo. I’m a very slow reader but this book is so fascinating and grounded that I read it in about a week.

I’m a big fan books authored by journalists. Some of them are legendary (read my listicle of journalists who have become great authors). There is usually a tone of certainty and clarity that makes their writing great. They also tend to write in a matter of fact manner, devoid of fatuous prose.

If I were to make a list of some of the best books written by journalists, I’d add this book written by Anjan Sundaram right on top.

The book, set in Congo during the historic 2006 elections, is a first person narrative by Sundaram, a rookie journalist at the time. He was born in India and went to IIT-Madras for engineering and later to study Math at Yale University in 2005. He then decided to launch a career in journalism, from one of the most unlikeliest places on earth– Congo, a country ravaged by civil wars, dictators and colonial powers for years.

Anjan Sundaram

Anjan Sundaram

Him being broke and poor in Congo, working as a stringer for Associated Press while trying to support a family he was living with, the elaborate description of Congolese cities, its people and personal observations remind me of Orwell’s Down and Out in Paris and London. The book is very personal, so it appeals to a lot of us who crave deeper experiences that make life more meaningful.

The book has done extremely well and is critically acclaimed.  Rightly so. But at some points, I wish it had emphasised as much on Congo’s history, economics and where it sits in a geo-political context as on Sundaram’s precarious life in Congo. Because I’m pretty sure this will probably the only book I’ll read on Congo unless I want to become a specialist.

If you are looking for a good read, a book to inspire you, go on and pick up this book. Suketu Mehta’s Maximum City is another book that I like in this genre, although it has nothing to do with wars. Mehta chronicles the life of exceptional people in Mumbai– the bar dancer, the Jain businessman who gives up everything, the shooter, the drudgery and small joys that make Bombay the city it is.

The hard work that has gone into the book is evident to anyone who reads it. Sundaram’s mastery of local nuances, capacity to endure extreme conditions, observe and document them in great detail combined with a sense of higher purpose makes this book a must read for journalists.


Knight Journalism Fellowship for Mid-Career Journalists

The The John S. Knight Journalism Fellowships has started accepting applications from mid-career journalists and journalism entrepreneurs for the 2016-17 batch.

About 20 journalists are selected each year. The best part of this fellowship is that you get to learn at Stanford University in Silicon Valley. It also comes with a sizeable purse ($65,000+), so you don’t have to worry about paying your bills while you are at it. JSK

This fellowship is given out every year to about 20 journalists from across the world. It’s highly competitive, but many Indian journalists have made it to the program before.

You need to come up with an interesting problem to solve in journalism. You also need to have 5+ years of journalism experience. For more about who can be a fellow, check out this link. If you are interested in applying, go here.


New Media Companies in India

I tend to group new media companies in India into a few buckets. There are aggregators. And then there are brands.  You can slice them further by the type of content they carry or their business model. Here’s a quick list of such companies that I put together. I’ve also pieced together some information about what they do or how they make money for those who are interested.

Overall, the trend seems to be that aggregators work on the traditional cost per click model. Brands seem to be liking native advertising (see ScoopWhoop’s model below). Events have also emerged as a strong revenue source, although its quickly getting commoditized and pure play event/ conference companies as well as community driven events are entering the space.


Inshorts: Manually summarized news snippets. No original reporting. Loaded with cash, out to hire & acquire. Has over 1  2 million downloads on Android and is purely focussed on mobile. (Update: They were earlier called Newsinshorts.)

DailyHunt: Local language content, e-books & unbundled magazine stories. Loaded with cash. Innovating on payments. Over 10 million Android downloads. Focussed on mobile. (Update: They were earlier called NewsHunt.)

The biggest threat for aggregators are Facebook, Google and Twitter. Users are increasingly discovering content on these platforms which are getting smarter and smarter.


ScoopWhoop: Viral. Shareable content done very well. Makes money by doing campaigns like these. Rates are upwards or Rs 1 lakh for 3 articles. Recently raised more money.

Scroll: General news, heavy on politics and culture. Slight left leanings. Brilliant website which is light and mobile friendly. Does a lot of original reporting, which makes it a serious journalistic play.

Quint: General news, entertainment, video & viral. Nothing to write home about. More here.

FoundingFuel: Entrepreneurship. Few high quality guest authors. More here.

The Viral Fever (Video): Viral videos & original content done extremely well.

All India Backchod: Viral videos & original content done extremely well.

The Wire: Political & general news. More here. Siddharth Varadarajan, former editor of The Hindu runs this publication.

The News Minute: Political & general news. Breaks stories & does original reporting. Former Times Now reporter Dhanya Rajendran and Chitra Subramaniam who broke the Bofors Scandal back in the day run this publication.

News Laundry: High quality writing on media, politics and so on. Super funny videos & serious stuff.

YourStory: Entrepreneurship & startup coverage. YS recently raised funding and I’ve tried to make some sense of their valuation and business model in a post here.


Ping Network: Multi Channel Network

Qyuki: Multi Channel Network

TVF Play: The video player from folks at The Viral Fever.

HotStar: The video player from Star giving a tough time to YouTube & others.

Am I missing something? Leave a comment or e-mail me and I’ll have it added to the list.


What the world’s largest media buying company has to say about digital advertising in India

Earlier this month, business daily Mint had an interesting interview with Dominic Proctor, president, GroupM Global. The company buys over $100 Bn worth of media world wide. That’s 31% of media spend worldwide. It buys nearly 43% of India’s ad spend. Here are some excerpts from the interview.

Which media—television, print, digital—is getting the largest revenue share globally?

It varies enormously. In some countries like the UK and Sweden, digital is the biggest media type and Google is the biggest media owner. So that is around 50% market share. In India, digital is more like 10%. Obviously, it is a slower start here because the penetration of broadband wasn’t so deep. So the move to digital has been based on mobile platforms.

What kind of digital properties and content are advertisers looking for?

The simple answer is, anything that breaks through. Digital media environments are usually quite cluttered. They suffer the same challenges as broadcast or print media; you need content and formats that really break through.

Which are your high growth markets?

The scaled ones are India, and China, in spite of the gloomy news in the last month, and some Latin American markets are reasonable bets. Then there are smaller countries in Southeast Asian markets and new markets like Myanmar, Iran and Cuba.

Read the full interview here.


YourStory Valuation

Bangalore based new media company Yourstory raised funds earlier this month. This year so far, we’ve seen a handful of investments into new media.

  • In July 2015, Newsinshorts raised $20 mn from Tiger Global, the New York based firm which has backed the likes of Flipkart.
  • In February, NewsHunt (now DailyHunt), raised $40.5 mn from Falcon Edge Capital and existing investors such as Matrix Partners and Sequoia Capital.

A bunch of other new media startups in India had raised money in 2014 as well.

Among these, YourStory stands out because it creates its own content while DailyHunt or Newsinshorts are content aggregators. The difference is that YourStory is the kind of a startup a journalist or a media person is likely to start while the others are more like something a technology person would start.

For this post, I’m going to try and understand YourStory’s valuation. I went through company filings to try and make sense of the business. I hope this helps people looking to start new media companies.

First things first. So how much money did YourStory raise? About Rs 15.5 crores by selling nearly 25% stake in the company through compulsory convertible preference shares (Series A).

That means YourStory was valued at about Rs 62 crores or about $10 mn post money.Yourstory Investment

Here’s a quick look at who owns how much in the company. I’ve clubbed the names of individuals who own a stake in the company into one column as promoters & others to avoid getting personal about it.






Traffic & other metrics

  • gets nearly 3 million monthly visits (Similarweb)
  • YourStory app is ranked 69th in the Apple store in the news category (App Annie).
  • Between 100k-500k downloads on Google Play Store.

Some takeaways

  • Building a media business in India is hard: Especially if you are a content creator. It’s taken the company over 4 years (incorporated in 2011) to get to about Rs 5 cr in revenues*.
  • Founder salary: The company’s founder took a massive pay cut from previous job at a large media house even if this meant longer hours and a lot of hard work.
  • Revenue targets: The company is targeting Rs 8.3 cr in revenues in FY2016 with Rs 3.47 cr coming from advertising, Rs 3.9 cr from events and Rs 1 cr from campaigns or native ads.
  • Expenses: Most expenses are to pay salaries, market events and advertising technology and hiring freelancers.
  • Events put the food on the table: It’s hardly surprising that events bring in most of the money followed by advertising and native advertising. Nearly half of the FY16 revenue is expected to come from events and another half from advertising and campaigns.

Things I’ve learned running an online news media business [Guest Post]

[Note: Last month, Medianama, a website for news and analysis on the digital ecosystem in India turned 7 years old. Nikhil, who runs the company wrote an insightful post on the things he has learned. I asked him if we could re-post it here for those who’d like to do a media startup of their own and he agreed. It’s a long post but worth reading in full if you are running/ planning to run a media startup in India. So here goes]

MediaNama turns seven today, and our seventh year has possibly been the most important in our history: the work we have done over the six years that preceded our seventh, and our approach towards reportage – of linking stories together and identifying common themes, of building a “body of work” instead of just a story, has allowed us to inform and educate on issues that are of critical importance to the digital domain. We intend to continue to take stands we believe are correct, and benefits the domain in the longer term, while at the same time, always open to debate and being corrected.

Over the past couple of years, particularly from a policy perspective, the issue has been one of ensuring that the Internet remains open, fair and competitive, and our work over the years has been an important resource on policy issues such as Intermediary Liability, Blocking, Net NeutralitySurveillance, among several others, and we’re now beginning to connect the dots on online versus offline. We intend to continue identifying  issues of importance and focusing on them, to inform you, our readers, better.

Our purpose remains the same as it was seven years ago: to help build an open, fair and competitive digital ecosystem in India. Not Internet or mobile or startups or telecom or ecommerce or digital media, but digital. All of these and more. Along with depth, breadth matters, and I’m painfully aware that we’re not even covering half of what we’d like to. We intend to keep expanding our scope of coverage, growing it as our domain grows.

We intend to, but can’t necessarily promise to take up every issue or cover every domain, because of the vagaries of the online news media space. We’ve seen a number of recent upstarts in our domain, and I’ll take the liberty of pointing out a few things about the online news media business in India, in the hope that it makes life a little easier for the upstarts from a business perspective, especially for those making a switch from the offline world. Also, please remember that many of these points can be proven wrong since they’re based entirely on my experience:

1. It’s still a news business: There is a tendency, when you’re starting up, to think that you’re primarily an online business. The focus is on the site design, the app, the CMS. Just because distribution is no longer a concern, platforms are available off the shelf, and social media gives you virality, doesn’t mean it’ll grow and sustain. Build for what you can sustain doing, because the news and analysis business is a treadmill: your product is the story, and you’re building multiple new products every single day. Focus on processes and making sure they’re followed. Try new tech and new models only if they’ll make your life easier: save you time and/or effort, and/or make you money immediately. This is why I’m not very keen video, and we haven’t launched apps yet.

2. Big versus small: There are only two types of businesses to be built in the online news media space: if you’re a generic news business, you need scale (tens of millions of uniques a month), for which you need bucketloads of money. You’re competing with the larger publishers with bigger budgets and reach and the ability to lose a lot of money. You’re likely to be a topline focused businesses and will need funding. However, with no large, standalone online news media play that is profitable, it’s unlikely that such businesses will sustain. In that case, you’re building to sell, and you need to define a strong positioning, to attract the right investor, audience and buyer.

If you’re a vertical (like us), then scale is a secondary issue. A large audience base (in the tens of millions of uniques a month) is next to impossible, as are investors, who have easier bets elsewhere. Even if you get investors, given the time it takes to build such businesses, their patience will run out. You’ll be under pressure to do the things they want you to do, in order to make it possible for them to sell their stake. You could be a bottomline focused business (we are), and focus on profitability in order to survive. Scale gradually while keeping an eye on the bottomline. We’ve now been profitable for six of our seven years, but chosen to grow our bottomline, not our topline.

3. Dealing with small teams and bottlenecks: The moment you go beyond two people in editorial, the editor becomes the bottleneck. There’s also the challenge of people doing a half-hearted job, and leaving it to the editor to fix. This is an issue in any type of an organization, but it’s particularly tricky with editorial. The editor is more like a product manager, with a different product being created all day. We addressed this by borrowing a concept from academia: by introducing a peer-review system. This helps accelerate learning for journalists, because you’re also learning from evaluating. It also ensures that there’s shared accountability, and snafus are limited. Vikas SN is the best editor we’ve had, and was painfully particular about how things are done.

4. Templatise: It’s not easy, and there are no set rules, but we try and templatise how we approach certain types of stories. Remember that you’re creating a new product multiple times a day, and no two products are the same. We’ve approached this by creating certain base templates, and a list of things that needs to be done. Our style guide (called #NAMAstyleguide) defines different types of stories, the way they can be structured, and acts as a reference for journalists. In a sense, it is a minimum viable product. This allows for speed when something needs to be pushed quickly (though I get the sense we’re not as quick as we once were), and there are questions each type of stories should try and answer for readers, in case someone wants to do more. I’ve gone through many style guides, and invariably, they tend to focus on format, and lack a reader-centric approach, in terms of what questions need to be answered for readers. I guess ours isn’t exactly a style guide then. We haven’t updated our style guide for three years now, but I guess it’s time I did that.

On to business:

5. AMJ sucks: September is usually the month I dread. Twice over the last seven years, in September, I’ve had to decide whether I want to shut MediaNama down or not. Why does this happen? April, May and June (AMJ) are the worst months for advertising in India. Advertisers conserve cash in the first quarter of the financial year, and our billings during this period (including in the current year) are typically weak. While billings improve in July, by the time money from AMJ and July comes in, it is end of August. Money from July it’s already September. Over the last couple of years, we’ve conserved cash keeping this seasonality in mind, and pushing harder on sales and collections starting March.

6. Billings aren’t collections, profit isn’t cash: Working capital is all that counts, and no matter how impressive your billings might be, it isn’t necessary that you’re going to be paid. We’ve had payments come in after anything between five to eight months after the campaign has ended, and though this hasn’t happened to us, we’re aware that it sometimes takes additional discounts or bribes for payments to come through. Nothing beats pre-payment, and we offer discounts to advertisers who pre-pay.

7. Choosing direct advertisers over agencies: Advertising agencies are powerful, and unless you’re one of the publishers with tens of millions of users, of you’re Google, you’re a tiny part of their campaign spend. Therefore, you’re not a priority for releasing payments, just as you’re not a priority for advertising on. If you’re vertical, you’re also not a committed spend, and they tend to use advertising rates on mass media sites to try and bring your prices down. They add an additional layer of bureaucracy to the payment cycle, and either have thousands of excuses ready for not paying, or allow advertisers to delay making payments.

8. Long term deals: You also have to keep an eye on cost of sales, and getting new advertisers, or monthly or weekly renewals of advertisements is expensive, not just in terms of having to hire more people in sales, but also in terms of time and effort. The best advice I ever got was from Mahesh Murthy in 2009, who said we should try and do annual deals because it brings predictability to the business. Spice Digital, before they left earlier this year, advertised with us for four years straight, and this didn’t just have a positive impact in terms of sustainability. In each of the two Septembers mentioned earlier, (irrational as it sounds) one of the reasons we kept going because we had committed to serve their advertisements till February. By the time it was November, things were fine.

Importantly, long term deals should be accounted as monthly income. If you account it all together, instead of deferred sales, it can lead to hubris, followed by excessive expenditure, which can be catastrophic.

9. Start early with sales: A few hours after we went live, I got a call from a company interested in advertising with us from the get-go. I declined, because my idea was that it’s better to first build an audience, and then seek advertisers. It’s difficult to increase rates, and we wouldn’t have gotten much money with 19,000 pageviews and 5000 users in our first month (1467 pageviews and 465 users on our first day). It is possible to increase rates. It isn’t easy, but it is possible.

Mahesh’s other suggestion then is something I regret not doing even more: hire someone in sales and even if that person only breaks even in the first year, it’s worth it. It’s something we never did. To grow faster, you need sales to be someones full-time job, and it’s usually the founders job. In my case,  it’s tricky when the founder is also a journalist, as it is in my case. In fact, we’re still trying to hire in sales.

10. Dealing with editorial and sales: If you don’t have a co-founder who does biz-dev, things can be tricky. Sreekant Khandekar, the founder of Afaqs, is immensely lucky to have Prasanna Singh on board. I do sales for MediaNama, though I’m not particularly adept at it yet. Strangely, I’m able to compartmentalize my roles as a journalist and as a founder who does sales. Some of this is process based: I refuse to discuss editorial matters in a sales meeting or call, as well as discussing sales in an editorial call or meeting. When a conversation veers towards editorial in a sales related discussion, I inform the advertiser they’ll have to discuss editorial with someone in the editorial team, independently. When we do events or partner with events, editorial coverage is never guaranteed.

11. Product/Platform startups are immensely more scalable: the problem for them is gaining traction and retaining users, but their ability to scale is much greater since the same unit effectively being bought by many. A research report once products can be bought by many. A classifieds platform can be used by many.A news business? well, new stories have to be created throughout the day. From a revenue standpoint, the opportunity in a news business is one of margins, while in a platform or product business, is in multiples.

12. Paywalls are tricky beasts: While there are multiple types of paywalls, assume that there’s only one type: where access to content is being restricted by a payment page. Paywalls work if you’re either niche and specialists in the domain you cover, or you’re mass and the best at what you do. Invariably, people will only pay for what they can’t get elsewhere, or if you can get it to them quicker than anyone else, in domains where speed is money. The tricky part here is in trying to get people to renew their subscription, and what you create has to be compelling enough to be habit forming. Your costs are front-loaded, and with a paying public, expectations are set. It’s important here to not let your costs escalate, and keep expectations sane: when subscribers don’t renew, there is a chance that your costs might become higher than your revenues. The deferred sales approach here: of accounting for annual subscription on a month-wise basis helps.

The other decision is a more philosophical one: we want to be read by more and more people, even though there are those willing to pay us if we go behind a paywall. It’s the last of our options.

13. Paid News is eating your lunch: The growth of Native Advertising, especially with the state of ethics in online publishing and advertising in India is creating a situation where agencies are now pushing to buy editorial. For everyone who denies them, there are alternatives who don’t. This needs to be addressed, standards for native advertising defined, and penalties for paid news created, for ethical businesses to grow.

13. Building other revenue streams is like building new businesses: The problem for media businesses is that typically you’re not selling what you’re creating, assuming you’ve chosen advertising over paywalls. How do you monetize? News media businesses are audience businesses, and monetization has to come via events, research, database products and classifieds products. There are also video and audio (podcast) businesses, for whom, competencies are different from that for text based sites. Each of these is a separate business, has it’s own unique complexities and demands on time. The problem is that each of these is also done by those companies for whom it is their sole focus.

14. Aggregators are your Frenemies, but mostly just enemies: Large internet businesses are built on a simple idea: create fragmentation, and monetize aggregation. If you look at Google (Search, YouTube and Android), Facebook, Twitter, ebay or Apple (with the app store and the iTunes store), their approach is one of typically trying to aggregate as many specialists as possible, and then monetize that fragmentation.

As they become more valuable, they send you more traffic or views, and as fragmentation increases, you’re forced to spend money to retain that traffic. Aggregators first facilitate and then take control of a part of your distribution. It is bait and switch. Some, like Twitter, are yet to figure that switch out, while others, like Facebook, have executed this ruthlessly, first by reducing reach for pages, and then by trying to get publishers to share revenue and audience with Instant Articles. The only solution is for publishers to develop their own channels (newsletter) and operate with caution when it comes to such platforms: don’t let any single channel dominate.

The most dangerous bait-and-switch you face is with the institutionalization of Zero Rating (a Net Neutrality issue), especially if more and more telecom operators adopt it. There won’t be alternative channels available.

It’s also important to keep control of your syndication feeds, preferably kept as excerpts or summaries than full text. Solutions need to be found for apps like Twitter mobile which effectively show your stories by stripping away advertising – I see that as stealing.

15. Business metrics: I remember Ashish Gupta of Helion Ventures saying at a Headstart event many years ago that all businesses measure something, and keep evolving measurements as they go along. Apart from traffic (I don’t think there’s an analytics tool that quite cuts it from a journalists or publishers point of view, btw), I’ve only recently started defining business metrics for MediaNama, which I did for the purpose of preparing an annual letter to (imaginary) shareholders, as an exercise for evaluating state of the business.

Some of these metrics, per month, quarter, half year and per year: Cash in bank, month covered by cash in bank, billings, payments, short term vs long term billings, new versus repeat advertiser billings, number of ad units sold, revenue yield per ad. Not all of this is useful, but the exercise of preparing this is very helpful.

In case there are other metrics that we should consider, please do leave a comment or email/call:


I realize that this post is now over five times the length of an average MediaNama article (just kidding), but I might add more points in case I remember any. Feel free to leave comments with ideas, or tell me where I’m wrong. The bit I haven’t gone into, is about the personal journey, which this is not the space for.

If you’ve ever advertised with us, thank you for helping us get this far. If you’ve been reading, thank you for reading. To all those friends, well wishers, advisors and especially those who criticise us or tell us what we’re not doing right, thank you for your support.

Unless I do something really stupid now, we’ll safely get to year eight. It’s been a good year so far.