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The creation of Verso, a Latam-based company that offers a digital subscription service for media, was recently announced.
Vangelis Trikoupis and Víctor Cortés have co-founded this new startup. It’s Cortés’s second venture into the publishing world: before leading the Branded Content area for Tribal, he co-founded Contxto.
Cortés shared the news along with a long list of investors in his pre-seed round: Magma Partners, Redwood Ventures, Pamela Valdés from Beek, Deepak Chhugani from Nuvocargo, Mauricio Cabrera from Storybaker, Enzo Cavalie from Startupeable, Rosa Jiménez Cano, Andrés Cajiao, Gonzalo Aguilar, and Jose Vielma.
Verso is already active in two acceleration programs: Platanus Ventures and Latitud.
A solution for online media fragmentation
Verso proposes a master subscription for media and journalists. Its platform comes with a web extension that allows readers to pay for a single master subscription and access several paid publications with it.
This new offering is interesting considering the fragmentation of the publishing industry, which was completely disrupted by the Internet.
When content creation through blogs and websites became available for anyone online, hundreds of news outlets sprung up to specialize in topics that traditional ones had no interest or ability to cover.
At the same time, hundreds of other outlets have had to change their business models; from relying on clicks for online advertising, creating paywalls so users can access content through paid subscriptions, or even creating new business verticals, like newsletters, branded content or podcasts, to monetize through advertisements or sponsors.
User attention has also been fragmented. When there’s such a massive amount of information, users are forced to choose where to invest their money and direct their eyeballs.
According to Cortés, Verso seeks to offer a solution to two of these problems: on the one hand, giving readers freedom and better access to the best sources of information; and empowering journalists and media outlets to better monetize their existing content.
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