Massive media company News Corp has announced the acquisition of Storyful, a news aggregation service built around social media, for $25 million.
Storyful was launched in 2010, and touts itself as “The World’s First Social News Agency” with major brand backing to boot.
News Corp says the company will continue to function on its own, and here’s what News Corp Chief Executive Robert Thomson had to say:
Storyful has become the village square for valuable video, using journalistic sensibility, integrity and creativity to find, authenticate and commercialise user-generated content. Through this acquisition, we can extend the village square across borders, languages and platforms.
According to the press release, videos managed by Storyful have received a combined total of 750 million views in 2013.
Storyful headquarters will remain in Dublin, Ireland, and News Corp says it will hire for more advertising sales and business development positions out of New York City.