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| Developer | Pocket FM Corp |
|---|---|
| Launch date | 2018 |
| Platform(s) | Android, iOS |
| Pricing model | Freemium Model, Microtransaction |
| Website | www |
Pocket FM is an audio series [1] platform, and has a presence in over 20 countries globally. [2] The platform has over 250,000 content creators and over 130 million listeners spread across geographies. [3] [4]
Pocket FM was founded in 2018 by two alumni of the Indian Institute of Technology in Kharagpur, Rohan Nayak, Nishanth KS along with Prateek Dixit. [5]
The company's app on Google Play surpassed 100 million downloads in 2023. [6]
Pocket Novel, an online reading platform, was officially launched by the company in 2024 after a year-long beta phase. News sources cite Pocket FM investing $40 million in its novel business and will compete against Pratilipi. The novel platform has over 150,000 writers and over 250,000 novels, uploaded by writers. [7] [8]
Pocket FM offers content in various genres including romance, horror, fantasy, sci-fi, mythology, suspense and thriller. Each episode usually lasts between 10 and 30 minutes. [9]
Pocket FM offers content in a variety of languages including Hindi, English, Tamil, Telugu, Kannada, Malayalam, Marathi and Bengali. [10]
The platform follows a Freemium model where the first 3-4 episodes in a 24-hour period are offered for free to listeners. Thereafter the platform charges the listeners, giving them a choice to make a micropayment per episode or buy the entire audio series. [11]
Pocket FM reported 647% revenue growth for its India business in FY2023. [12] The company has exceeded $150m ARR (annualised revenue run rate) globally in 2023, while US contributed to over $100m ARR. [13]
Pocket FM has raised $196.5 million [14] in funding from investors, including Goodwater Capital, Tanglin Venture Partners, Naver, Lightspeed, Tencent and Times Internet. [15] It has raised $103 million led by Lightspeed Venture Partners, with participation from Stepstone Group amidst funding winter. [16] With presence in US and India, it is expanding into LATAM and Europe. [17]
In April 2024, Pocket FM announced the completion of its first ESOP buyback [18] worth $8.3 million.
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