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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.
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