InShorts' Azhar Iqubal steps down from CEO role; cofounder Deepit Purkayastha to take over

Online news aggregator InShorts's cofounder and chief executive officer Azhar Iqubal has moved to the role of the company's chairman, with cofounder Deepit Purkayastha taking on the position of CEO.

"After leading the company for 11 years as chief executive, I have decided to step into the role of chairman of the company. My cofounder, Deepit, who has been an instrumental part of our journey from the beginning, will take charge as the chief executive of the company and I am excited to see him lead our company to even greater heights,” said Iqubal, in a statement.

Founded in 2013, the mobile app compiles daily news highlights spanning national, global, political, business, sports, technology and entertainment categories, delivering it in 60 words. In 2019, InShorts launched Public, an app that allows people to record and share happenings around them with real-time local updates.


The Noida-based startup saw its losses widen more than 33% in FY23 to Rs 309.75 crore, from Rs 231.87 crore in FY22, as expenses rose faster than revenue. Operating revenue grew 8.7% to Rs 180.90 crore in FY23 while expenses increased 23.5% to Rs 492.13 crore, according to its financial statements filed with the Registrar of Companies (RoC).

InShorts last raised funds in July 2021, picking $60 million from Vy Capital and existing investors such as Tiger Global, A91 Partners, Lee Fixel’s Addition, SIG and Tanglin Venture Partners. It has raised a total of $165 million till date, according to information sourced from Tracxn.

Over the last 8-10 months, several startups and new-age companies have done organisational rejigs.

On Tuesday, housing society management app MyGate elevated cofounder Abhishek Kumar to CEO from chief operating officer while cofounder Vijay Arisetty, the former CEO, moved to the role of chairman.

In March, specialty coffee chain Third Wave Coffee said founder and CEO Sushant Goel is set to transition into a board role with the company roping in former KFC India and Nepal head Rajat Luthra as CEO.

Last December, healthy snacks brand Epigamia's chief operating officer Rahul Jain was elevated to the CEO role, succeeding Rohan Mirchandani who became executive chairman.