SmartNews, a news aggregation app, has faced challenges in 2023, including layoffs and a change in leadership. Recent reports from app intelligence providers Sensor Tower and Appfigures indicate a decline in both downloads and active users for the app.
The company, founded in Japan in 2012 and expanding to the U.S. in 2014, initially gained traction by partnering with publishers and utilizing algorithms to provide personalized news feeds.
Despite achieving a billion-dollar valuation in 2019 and a $2 billion valuation in 2021, the app has experienced a decline in numbers over the past year. Changes in the news industry, as well as shifting consumer preferences, have contributed to this decline.
SmartNews had 10 million monthly active users in the U.S. over a year ago, but according to Appfigures, its daily downloads have dropped significantly since then. Sensor Tower also reported a material decline in worldwide daily active users over the past few quarters.
The company has refrained from commenting on the figures provided by analytics firms and declined to disclose any numbers itself.
The company’s recent challenges have been attributed to various factors, including a lack of product updates, a focus on the U.S. political climate, and a decline in consumer interest due to lapsed product iterations and feature launches.
SmartNews’s attempt at launching a more uplifting section to its app, SmartTake, did not meet expectations, prompting a need for product improvement. The company’s future plans, including the launch of “Project Atlas,” are eagerly awaited.
Additionally, the app’s rating on Glassdoor has dropped to under 3 stars, and concerns have been raised about the company’s future in the U.S. and its handling of recent layoffs.
SmartNews is facing tough competition from various social platforms and news aggregator apps, which continue to launch new features to enhance news discovery and conversation.
Despite the challenges, SmartNews remains committed to evolving its product to meet changing user expectations in the ever-dynamic news industry.
