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SmartNews App Raises $ 230 Million, Considering Possible IPO

SmartNews Inc. raised $ 230 million in its most recent funding round, valuing the news discovery app at around $ 2 billion and paving the way for a possible listing of its shares.

SmartNews is a news aggregation website that forms partnerships with external media such as USA Today and Time magazine to publish their content. The app prides itself on helping local news outlets, many of which have been under extreme pressure, by driving traffic to their articles through a tab that displays personalized headlines based on the user’s location.