Wochit’s DIY newsroom platform attracts $4.75M, former Reuters executive as CEO

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News moves fast, and video is an important medium for staying on top of stories as they break.

Video production platform Wochit has raised $4.75 million and hired media veteran Keith McAllister to make creating and publishing high-quality videos as efficient as possible. Wochit produces videos as news breaks or topics start to trend. The technology automates a majority of the steps involved in creating videos so they can be released more quickly and cheaply.

Wochit monitors tens of thousands of social media and syndication feeds to pinpoint trending stories. As stories come up, Wochit produces video content as fast as possible for publishers to distribute through their own networks. It enables web sites, mobile apps, news services, blogs, and other publishers to build their own newsroom in a way that is scaleable, relevant, and can open up new revenue opportunities. The company has relationships with sources like Reuters and Getty Images and produces an average of 458 news videos a day.

The team is made up of people with expertise in TV production and video technology as well as media. McAllister has more than 25 years of experience with journalism, digital publishing, and content syndication. He previously worked as the general manager of Global Consumer Media for Thomson Reuters and worked for CNN. Wochit received backing from Redpoint Ventures, Cedar Fund, and Greycroft Partners. It has offices in New York and Tel Aviv.

Courtesy of venturebeat.com

Redpoint’s investment in Wochit

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What makes Wochit so special?

The news business is ripe for disruption. Users are consuming news information like never before – but they want it immediate, relevant and accessible wherever they are, especially on their mobile devices. From my experience at YouTube, if users can get what they want from the news when they want it, they would prefer to see it and hear about it, not just read it.

Secondly, getting access to most news stories with quality video is likely to be a day late and definitely a dollar short. In today’s news eco-system there is massive publishing of text-based news, but aside from a few of today’s most high profile headlines there is a shortage of quality news delivered via video,. It’s just a fact: text based news – especially on mobile – doesn’t monetize very well. However, video news stories do just fine, oftentimes commanding premium CPM’s. It’s not surprising publishers of all shapes and sizes are looking for ways to more efficiently create and distribute video news stories.

The Wochit team is diving in to solve both the user need and the publisher problem. These are not challenges easy to solve, so we’re especially excited to reconnect with an old friend, Ran Oz, and a new friend, Dror Ginzberg—the co-founders of Wochit. They bring both world-class technology talent and great entrepreneur bona fides to the effort. We’re thrilled to be working with them and the team they’ve formed.

We’re on a very exciting journey to re-invent the news business. Stay tuned… in video.

Interview courtesy of redpoint.com.

Video News Specialist Wochit Raises $4.75 Million From Redpoint, Cedar Fund, And Greycroft

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Video is becoming an increasingly important part of news coverage online. But it’s also expensive and time-consuming to produce, and many publishers don’t have the resources to create them on their own. A startup called Wochit is changing the economics around video production for breaking news, and has raised $4.75 million to make their technology available to more publishers.

Wochit makes it easier for news organizations to have timely videos around breaking stories as they happen. By licensing raw footage from original sources, the startup produces videos that can be repurposed and embedded onto publisher sites. But the secret sauce is in how Wochit brings those pieces together — by automating the process of editing footage into watchable segments.

According to Wochit co-founder and CEO Dror Ginzberg, the process is about 95 percent automated, which drastically reduces the time and cost associated with producing timely news videos. For news organizations that aren’t local to where a particular news story is breaking, or for those who don’t have the resources or personnel to produce the content themselves, Wochit enables them to publish and monetize videos related to the news.

For each story, Wochit creates a template video that can be used by any news organization, but it can also provide more customized videos for individual publishers. That allows them to provide white-labeled videos with their own branding, incorporating their own media and basing content of the video on the text of their stories.

Altogether, Wochit is making hundreds of news videos daily, which can be embedded on publisher sites. Not only are they producing them, but they’re also updating them to provide new context and information as it happens. They also help publishers to monetize, allowing them to sell their own video ads along with or split ad revenues for ads that Wochit has sold.

To advance its go-to market strategy, Wochit has raised $4.75 million from investors that include Redpoint Ventures, Cedar Fund, and Greycroft Partners. The company was founded by Ginzberg, who previously founded image syndication platformPicApp, as well as CTO Ran Oz who was a co-founder and CTO of BigBand Networks. It now has 20 employees, with offices in Israel and New York City.

Courtesy of techcrunch.com

Fresh News Videos for Web Publishers With New Wochit Platform

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Today, Wochit Inc. announced a platform by which web publishers can have access to a steady stream of video news content tailored to their sites’ needs, all courtesy of their partnerships with Grab Media, OneScreen and Rightster.  Web publishers looking to keep their website up-to-date with a constant stream of video can join up with Wochit, be able to generate content at a rapid rate, and generate revenue based on that content.  It’s nice not to worry about where your content is coming from today, and you can still produce your own to go alongside it.

How Wochit’s News Aggregation Works

They not only have partnerships with Grab Media, OneScreen, and Rightster, but also Reuters and Getty Images, well-known providers of licensed footage and photography.  Wochit monitors trending topics from social media feeds and to determine what’s fresh, and then produces web video content for publishers to get immediate access.  You can see this actually at play on Wochit’s website, where the right side of their page constantly gets updated with new videos of breaking news.

So, constant updating of news stories whenever you want them seems like a pretty good way to keep your site current, and you don’t have to go around to every news source looking for a YouTube video to embed or trying to figure out how to embed a video that is on some embed-unfriendly site.  If Wochit has all the sources they say they do, then you should never want for content.  That’s for sure.

We’ve seen news aggregation in other forms.  Glocal recently set up a site that would be like “Hulu for News,” where you could go to the site and tailor it for your need of news consumption.  But that’s more for the people who are seeking out news, rather than the people who want to use it for their websites.

Courtesy of reelseo.com

Video News-Producing “Robot” Rises from Israel

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Wochit has launched its platform to provide publishers with a constant supply of topical, professionally produced daily news video in early “real-time.”  We spoke with Co-Founder and CEO, Dror Ginzberg, in our studio in New York this week.

He told us that Wochit produces content, “practically in real-time,” on trending stories and breaking news in virtually any vertical, from news and politics to business, entertainment, specific celebrities and more.

In a press release, Ginzberg explains, “The motivation behind Wochit’s ever-fresh production is for publishers to grow their businesses with economical video that’s totally current, topical, and of the highest quality.  Wochit is dedicated to providing a constant supply of great video through collaboration with our partners including distributors, news sources, and footage providers.”

The Tel Aviv/NYC-based company launches with a number of distribution partnerships including Grab Media, OneScreen and Rightster and Ginzberg tells us that more partnerships are in the works.

In the video interview, Ginzberg talks about how the company discovers and understands trending news stories, how they produce their content, and white label options they have planned for the future.  He says that currently Wochit is creating hundreds of videos every day and, within a month or two, they plan to be producing thousands.

More on the launch here in this report on the TNW.

Courtesy of beet.tv

Wochit Mass Produces Near Real-Time Video News Bites

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Israeli startup Wochit launched yesterday, seeking to mass-produce near real-time video news bites that will be distributed across the web to sites hungry for high-quality video and additional revenue.

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Wochit Creates Hundreds of Video News Reports Each Day for Content-Hungry Publishers on a Budget

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Video is increasingly important to online publishers, but the problem is that it’s generally expensive and time-consuming to produce. Wochit is a new platform launching today that aims to supply news sites with fresh, timely video reports.

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