• VerSe Innovation will lay off 350 employees this month as part of a strategic shift to AI-led operations and a push for profitability by FY25.
  • The company has cut its EBITDA loss by 51% in FY24 and is investing in AI platforms like NexVerse.ai and Dailyhunt Premium to fuel future growth.

VerSe Innovation, the Bengaluru-based parent company of Dailyhunt and short-video platform Josh, is set to lay off 350 employees this month as part of a sweeping restructuring effort aimed at improving operational efficiency and driving profitability.

The move comes amid the company’s strategic pivot toward artificial intelligence (AI), with a renewed focus on automation and high-growth product areas.

In a statement issued Saturday, a VerSe spokesperson said the company is undergoing a “strategic transformation to build a more agile, focused, and future-ready organisation.”

The restructuring plan includes heavy investments in AI technologies and aligning the company’s structure with long-term goals. As part of this, VerSe said it is automating several manual processes to keep pace with global digital transformation trends.

Noting that talent will be cross-leveraged across business units to maximize resource utilization, the spokesperson added:

“The company will streamline its workforce by approximately 350 roles this month.”

VerSe emphasized that the restructuring is part of a broader roadmap to achieve profitability by the end of FY25. The company has already made significant strides, cutting its EBITDA loss by 51% in FY24, from ₹1,448 crore to ₹710 crore, thanks to tighter cost controls in service and marketing expenses.

Looking ahead, VerSe is doubling down on its AI vision. Recent initiatives include the launch of:

  • NexVerse.ai, an AI-driven AdTech platform
  • Dailyhunt Premium, a subscription service launched in collaboration with Magzter
  • VerSe Collab, an influencer campaign management tool

These AI-led offerings are part of a broader strategy to accelerate monetization, diversify revenue streams, and modernize digital content delivery.

Despite ongoing layoffs, VerSe maintains a bullish outlook, projecting over 75% revenue growth in FY25, a stark contrast to India’s broader digital advertising sector, which is expected to grow at a modest 10–15%.

Edited by Harshajit Sarmah