Newzulu Limited (ASX:NWZ) has announced that it will be entering a binding agreement with Finnish photo and video crowdsourcing company Scoopshot. The strategic partnership has been designed to expand Newzulu’s products, including services offered to news agencies, publishers and broadcasters. Cooperation between the two companies will allow the Australian crowd sourced media startup to syndicate Scoopshot products and services as co-branded or white label products. The goal is to find similar products and offerings and work together to increase market exposure and to increase revenues. The Finnish company will also integrate Newzulu’s Live SDK into its mobile application. The Australian startup has said that the existing 600,000 registered users they will now have access to will “dramatically” increase the reach of its live streaming service.
Scoopshot was created in 2010 in the Finnish capital of Helsinki. It has become a “leading” mobile platform for photo and video crowdsourcing. It is also the “word’s first” application that allows mobile photographers to earn money from advertising within images. Scoopshot will provide Newzulu with the ability to make “Newzulu Newscalls” to active users within the existing Scoopshot community. They will also provide access to its market plaform, AdNetwork and Image Archive services. The Australian startup is a global crowd sourced media company that operates bureaus in Paris, London, New York, Los Angeles, Toronto, Montreal, Sydney and Perth. Last month, Newzulu completed an $11.5m capital raising. Shares of NWZ are up .5c, or 5.56 per cent, near an all time low of 9.5c per share. Shares of NWZ have fallen 32.14 per cent in the last 12 months and are down over 38 per cent so far this year.
Author: Imran Valibhoy
Mar 27, 2015
Since Joining the firm in 2006, Imran has worked on a range of M&A and Capital Market transactions in the natural resources, mining as well as projects in the renewable energy sector. Prior to joining Wise-owl, Imran worked at Euroz Securities in Perth, aiding in the advisory and valuation of companies in the mining and industrial sectors in Australia. Imran has a Masters in Banking & Finance from City University's Class Business School in London and a Bacheloor degree in Commerce from UWA.