CSK 0.00% 37.0¢ crowdspark ltd

News: Newzulu mulls potential investment interest from media companies

  1. Crowd sourced media company Newzulu Limited's (ASX:NWZ) fast growth in signing content and partnering agreements with media companies is such it has appointed KPMG Corporate to handle the strategic investment interest.

    Newzulu earlier flagged the interest from several media groups regarding a potential cornerstone investment in mid August as it closed a $5 million capital raising.

    This will assist client support infrastructure to underpin recent client signings and for expansion into U.S. and European markets.

    KPMG Corporate Finance has been appointed to conduct a formal process and to assess the interest and fit with strategic investors.

    Newzulu's chairman Alexander Hartman said the process is expected to take a number of months and there is no certainty that it will result in any investment or transaction.

    The company's business model has opened new horizons for coverage of news.

    Newzulu makes payments to contributors when their news content is sold globally through its global partnerships. Through Newzulu's platform anybody, anywhere, with a mobile device and a story, can share news, get published and get paid for verified content.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.