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Adcorp invests $1m in video production company Shootsta

Media agency Adcorp has announced it has invested $1m in video production start-up Shootsta.

shootstaThe move sees Adcorp get a 15% stake in the one-year-old business and values it at just under $7m dollars.

Mike Pritchett co-founder and CEO of Shootsta said: “I have seen this company take off since we launched it this time last year. We’ve secured over 20 blue chip companies in the past six months with little budget for sales or marketing.

“Corporates are falling in love with the idea of using video in every facet of their marketing strategy, and we’re enabling them to take advantage of that trend.”

The funds will be used to enable the start-up’s Shootsta’s growth with its client list already including HypeDC, Toyota, KiwiBank, Bank of Queensland and Qantas.

The Shootsta business model seeks to undercut traditional production companies by running workshops for the client’s staff on how to shoot video using the kit and upload it to the cloud-based Shootsta video hub where, from there, a Shootsta editor works with the company to turn around a professional video within 24 hours.

“We’re helping them get the most out of this growing communications channel and, in turn, teaching them that producing quality online video doesn’t have to be a time intensive affair. With minimal preparation and Shootsta’s help, a three-minute video takes three minutes of a company’s time,” he said.

As a result of the deal, AdCorp CEO, David Morrison, will take a seat on Shootsta’s board.

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