ImageTranslate, the image translator AI startup, was acquihired by Daily Hunt on August 6, 2019, to expand its market reach in the Indian vernacular digital news and entertainment space. The Acquihiring transaction was finalized by Daily Hunt to enrich its vernacular content with graphics and design. The Co-founders of ImageTranslate Ankita Arora and Harsha Mudumby who are alumnus of BITS Pilani joined the Daily Hunt Bengaluru office along with their team following the deal.
ImageTranslate offered translation services that translated image text online in more than 30 languages in just 30 seconds.
Expressing his appreciation over the vital role played by Acquihire.in team in materializing the deal, Harsha Mudumby, Founder ImageTranslate said that “The facilitation and support offered by Acquihire.in Team in our Acquihiring process is truly commendable. It was a thoroughly professional experience working with them and they introduced us to several companies while also setting up meetings with companies of interest. We were also offered an understanding of the Acquihiring ecosystem and expectations through an assessment of our team’s skills and
composition” he added.
The Acquihiring of ImageTranslate once again highlights the fierce competition for the best industry talents. Specifically, the IT industry has an ever-increasing demand for top candidates and larger corporations are frequently adopting innovative talent acquisition practices. Acquihiring is the latest trend in which leading companies are acquihiring smaller Startups to secure the prized personnel. The aim is to acquire a team of talented human resources to boost innovation and development.
The major advantage that is propelling the growth of Acquihire deals is the enhancement of technical expertise and the opportunity to rapidly expand reach in new markets for the buyer company. This is a highly welcome benefit in the business space in which advancements in technology succeed one another at a rapid speed.
In the case of Daily Hunt, the Indian News and Content aggregator offering vernacular content in 14 Indian languages, the objective behind the acquihire deal was to expand its reach quickly. The Indian origin app having its headquarters in Bangalore aims to reach 600 Indian districts out of 725 from its current reach of 400 districts.
ACQUIHIRE – the expertise behind the successful acquihiring transaction
Acquihire is the pioneer in the Indian acquihiring ecosystem that facilitated the successful acquihiring of ImageTranslate by Daily Hunt. We have been offering our proficient consultingservices enabling larger Corporate firms to acquihire Startups with highly demanded talents forcomplementing their needs and assisting exploration of new markets.
Our team of seasoned professionals carries out a thorough assessment as a part of the criticaldue-diligence research to ensure matching of the priorities, work habits, and values of both theparties involved in the acquihire transaction. This establishment of sustainable compatibilityensures that the acquihire deal is a truly win-win situation for both the larger company and theStartup.
Tag: Daily Hunt, ImageTranslate, AI