independent

Friday 18 April 2014

Storyful bought by News Corporation for $25m

Irish online firm was founded by former RTE journalist Mark Little

Storyful founder and chief executive Mark Little

IRISH social news agency Storyful has been bought by Rupert Murdoch's News Corporation for $25m (€18m).

Storyful was founded by former RTE journalist Mark Little.

Little is one of the largest shareholders in the Dublin headquartered firm. Other investors serial technology backer Ray Nolan, who sold his Hostelworld business for €220m, along with Dragon’s Den Star Sean O’Sullivan’s investment company SOS Ventures.

Storyful discovers, verifies, acquires and distributes timely and relevant video and user-generated content to its partners.

New Corporation said today it will use Storyful to drive revenues across its businesses.

Storyful will operate as a standalone company within News Corporation and will work with other firms in the group including The Wall Street Journal.

"News Corp will use its own global scale, robust digital presence and advertising expertise to enhance and expand Storyful's video products and services for newsrooms, advertising agencies and brands," it said in a statement.

"News Corp will also utilize Storyful’s tools to help drive engagement and revenue across its businesses."

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