Congratulations to Hitch Advisory client Shootsta on their recent $1m capital raise.
Shootsta is the perfect mix of in house and outsourced video production. With clients like Qantas, Caltex, Adobe, Toyota and more. It’s clear that the future of digital content is firmly in Shootsta’s grip.
Shootsta is a production company that works by distributing easy to use camera kits to clients, providing high quality training, and then letting clients shoot content that is highly relevant to their target audience. The clients then upload the footage to Shootsta via an online hub and provide a project brief, and Shootsta’s editors edit, enhance and return the finished product to clients at lightning speed.
Shootsta CEO Mike Pritchett says of the Business:
“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.”
“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 only needs to take three minutes of a company’s time.”
Adcorp (ASX:AAU) has acquired a 15% stake in Shootsta at an issue price of $1,000,000, valuing the 1 year young Shootsta at circa $6.7m.
The company is expecting to scale rapidly as a result of the funding. With little sales or marketing efforts it has still secured over 20 blue chip clients in the past six months.
David Morrison AdCorp CEO and managing director David Morrison will assume a role on Shootsta’s board. He said:
“Shootsta is an exciting concept that bridges the gap between DIY video and traditional production companies. Online video content is going at a very rapid rate and companies now need to provide regular and interesting content to their stakeholders to drive engagement with their digital platforms. Shutouts now makes that task easy and affordable.”
The deal adds to high level of activity Hitch Advisory has seen in the Start-Up space in 2016, with e-commerce, FMCG and subscription based services leading the charge.
DISCLAIMER: This post is the opinion of the author and in no way constitutes legal advice.