Home Industry Listed Tech Worth a video? Newzulu raises a must-see $11.5 million

Australian video news crowdsourcing platform, Newzulu, has raised $11.5 million, capitalising the company at $57.5 million, following its acquisition of Canadian media software platform Filemobile.

iTWire last wrote about Newzulu in December 2014, where we not only interviewed its Asia Pacific GM, Angelo Tilocca in a 19 minute and 58 second video that you can see here, but also spoke about how the company does business, how its contributors earn money - and the movie Nightcrawler.

Now, Newzulu has rocketed forth once more, raising $11.5 million in its capital raising, which will be deployed as listed in its prospectus, but with a focus on:

  • Completion and integration of the acquisition of Filemobile, Inc.
  • Working capital for expansion of Newzulu (particularly in the USA and Europe)
  • Global launch of Newzulu Live platform for live video streaming news
  • Global launch of Newzulu Prime platform for advertisers and brands
  • Ongoing research and development on the Newzulu platform (web and mobile).

As discussed in our previous article and video interview, Newzulu is the platform that earned someone who was on the same mountain as F1 racing driver Michael Schumacher when he sadly hit some rocks and gravely injured himself.

The gentleman in question was another skier on the mountain who saw a helicopter arrive, and had no idea the incident had anything to do with Michael Schumacher - he simply though it might be worth recording.

Imagine his surprise when he discovered he had captured Michael Schumacher’s helicopter rescue! He uploaded the video to Newzulu, which offered it to media companies around the world, and he has earned an impressive six figure sum for his troubles.

Beyond that, however, is making sure the Newzulu platform is positioned to capitalise on its success, planned for by the once-teenage tech genius entrepreneur Alex Hartman, who sold an app to allow easy connection to Bigpond’s Cable broadband in the early 2000s, and his co-founding entrepreneurial partner, Peter Scarf.

The company says it has appointed Karen Logan as its Company Secretary, and says that: ’Logan has over 10 years’ experience in compliance matters having held consultancy and company secretarial positions with ASX-listed and unlisted companies from a diverse range of industries.’

In addition, ‘Logan is an Associate of the Institute of Chartered Secretaries and Administrators, a Fellow of the Financial Services Institute of Australasia and a Graduate Member of the Australian Institute of Company Directors.’

Hartman said: “This $11.5 million capital raising is a great step forward for Newzulu and demonstrates the belief of investors in Newzulu’s business model.

“We believe Newzulu has the ability over the next two years to build significant revenues through selling software platforms, editorial services like Newzulu Live and brand creative services globally.

“I am grateful to investors for their support of Newzulu and am confident we can successfully execute on our Business Plan, particularly over the next two years as we take Newzulu Live to market.”

Wentworth Global Capital Partners was lead manager to the capital raising. Newzulu has engaged Fosters Stockbroking to provide equity capital markets services.

The company’s new registered office address is now in West Perth.

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Alex Zaharov-Reutt

One of Australia’s best-known technology journalists and consumer tech experts, Alex has appeared in his capacity as technology expert on all of Australia’s free-to-air and pay TV networks on all the major news and current affairs programs, on commercial and public radio, and technology, lifestyle and reality TV shows. Visit Alex at Twitter here.

 

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