In the rapidly evolving world of media concepts, leveraging social networks brings a unique value proposition.
Unique enough to file for an IPO and list on Nasdaq, the NewsBeat Social team believes.
NewsBeat Social is a video-first news agency delivering one-minute news reports on social media. Founded by Stanley Fields in 2013, it has 59 million Facebook users, 2.9 million Facebook fans and more than 423 million views, the company said in a release.
In the crowdfunding era, companies leveraging existing users as investors and brand ambassadors have seen success, but before that success can be optimized, the initial design has to be responsive to those users, seed investor Peter Shea explained.
“NewsBeat Social’s objective one-minute news begins with the consumer’s perspective and experience. By looking at where consumers are consuming news, and how they want to consume it, NewsBeat Social is creating a new type of news that’s going to have a transformative effect on the industry.”
Mr. Shea is the owner of Entrepreneur Media.
Traditional methods of news delivery are suffering worldwide. NewsBeat Social is a response to that CNN and Food Network Co-Founder Reese Schonfeld said.
“NewsBeat Social is reinventing news at a time when consumers, advertisers and the industry are eager for change. Providing informed news, and delivering it via social media with an optimized consumer experience built for mobile, the company is building an approach to news that meets the expectations of today’s on- the-go, globally-minded news audiences.”
Mr. Schonfeld is a member of NewsBeat Social’s advisory board.
Following the IPO completion, NewsBeat Social plans on listing on THE NASDAQ Capital Market under “NEWZ”.
That offering will be conducted by WR Hambrecht & Co.
In addition to Mr. Fields, the NewsBeat Social leadership team includes President Geoff Campbell, a former executive at Sony and the DISH Network, COO and co-founder Tyler Peterson, the founder of online film collaboration tool Pod27, CMO Mary Nickerson, a one-time marketing executive for Toyota, and CFO Myron Landin, once the CFO of Eagle InterCommunications.
Learn more about the NewsBeat Social IPO here.