News

Behind SmartNews, the $2 billion unicorn trying to fix the news algorithm

1 Mins read

Two Japanese programmers, a horde of English teachers and a dose of idealism created a surprise hit.

To prepare for his company’s launch in the U.S., Kaisei Hamamoto went for coffee. 

It was 2014, and SmartNews, the upstart news discovery app that Hamamoto had co-founded two years earlier, was bumping up against the boundaries of its home market. Japan was bristling with competition from century-old print newspaper giants. The U.S. market, on the other hand, had far more potential for advertising and readership.

There was a catch: they needed to develop an international version. Hamamoto spoke some English, but knew America only as a tourist. Armed with a prototype, he ventured out to Tokyo’s eikaiwa cafes, coffee shops where English teachers are hired — usually by aspirational businessmen and housewives — to hold casual conversation lessons. 

Hamamoto showed his speaking partners the app, quizzing them on everything he could think of. What kind of news were Americans reading? What did they think of the name SmartNews? The design? 

Hamamoto recalls the move with pride, even now. “It was much cheaper than conducting user research,” the SmartNews COO and chief engineer told Rest of World over Zoom. 

SmartNews launched in English in the U.S. in 2014, and the app is now available in more than 150 countries. The company styles itself as diverging from the received wisdom in American media: that polarization sells. SmartNews has developed a news-recommendation algorithm that promises to serve its readers a personalized, but politically balanced range of stories. 

Source: ANDREW DECK | restofworld.org

See also  Akufo-Addo appoints Okoe Boye as acting NHIA boss
Related posts
localNews

Ghana's Tema Port Traffic Declines as Lome Port Emerges as Fierce Competitor

2 Mins read
Ghana’s Tema Port Traffic Declines as Lome Port Emerges as Fierce Competitor The Importers and Exporters Association of Ghana has raised concerns…
EconomyfinancelocalNews

IMF Forecasts 5% Growth Rate for Ghana in 2025

1 Mins read
IMF Forecasts 5% Growth Rate for Ghana in 2025 The International Monetary Fund (IMF) has projected a robust growth of 4.4% for…
Banking and FinanceBusinessfinancelocalNews

Development Bank Ghana Sets Ambitious Goal of GH¢1bn Funding for Commercial Banks in 2024

2 Mins read
Development Bank Ghana Sets Ambitious Goal of GH¢1bn Funding for Commercial Banks in 2024 Development Bank Ghana has revealed that it is…

Leave a Reply

Your email address will not be published. Required fields are marked *