Wednesday 26 April 2017

Storyful gets €6.1m from Murdoch parent

Managing editor Aine Kerr, who’s to leave to join Facebook.
Managing editor Aine Kerr, who’s to leave to join Facebook.
Mark Little
John Mulligan

John Mulligan

Rupert Murdoch's News Corporation has injected over €6m into Dublin-based Storyful, the company that was founded by former RTE journalist Mark Little and sold to the media giant for €18m in 2013.

The cash boost comes amid a number of management changes at Storyful, which now has a presence in cities including London, New York and Hong Kong.

Aine Kerr, the company's managing editor, announced this week that she'll leave at the end of this month to join Facebook, where she'll be manager of journalism partnerships.

Storyful chief executive Rahul Chopra said that Mandy Jenkins has been appointed head of news at Storyful, while Joe Galvin is taking over as director of news, overseeing the news team in Dublin.

Filings at the Companies Registration Office show that News Corporation pumped €6.1m into Storyful last month.

New filings also show that Louise Byrne has resigned as a director of Storyful. But while she's no longer a director, she remains as chief operating officer.

Meanwhile, Storyful's director of legal affairs, Emmet O'Grady, has been appointed a director, as has Adam Thomas, the firm's chief of product. Mr Little, who was a presenter with RTE's Primetime, left the broadcaster in 2009 to set up Storyful.

The company sources and verifies social media content for clients, specifically video, so it can be used for broadcast.

Mr Little made about €6m from the sale of the company, with other investors having included entrepreneur Ray Nolan, who was the founder of Hostelworld, as well as Enterprise Ireland and venture capital firm ACT.

The latest publicly available set of accounts for Storyful show that it made a €2.2m loss in 2014.

Mr Little left Storyful last year and is now vice president for media partnerships in the European, Middle East and African areas at Twitter.

Irish Independent

Promoted articles

Also in Business