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SKY TAKES STAKE IN KIWI CLOUD VIDEO PRODUCTION PLATFORM - ‘90 SECONDS’ RAISES CAPITAL TO EXPAND GLOBALLY

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SKY TAKES STAKE IN KIWI CLOUD VIDEO PRODUCTION PLATFORM - ‘90 SECONDS’ RAISES CAPITAL TO EXPAND GLOBALLY

Kiwi cloud video production platform 90 Seconds has raised several million US$ from a range of investors to help grow its business internationally.

SKY, Sequoia Capital India and several other prominent investors have taken stakes in the company, which was founded in 2010 by entrepreneur Tim Norton.

The cloud video production platform now has more than 60 staff in eight cities across five countries, including its base in Singapore and is a marketplace for contractors and freelancers to produce short-form content for clients throughout the world.

Pavan Vyas from SKY says 90 Seconds is a strategic investment for SKY and one of a number of ventures it is considering. The company already sponsors the local Lightning Lab, a mentoring business acceleration programme based on TechStars in the US.

“We see huge potential for 90 Seconds to expand globally,” says Vyas. “When I first met the 90 Seconds team in London in 2011, it was a small company with handful of staff. By the time we re-connected, Tim’s company was a global business and all of the new investors recognise there are still enormous growth opportunities out there.

“SKY wants to play a role in that expansion and sees this as an opportunity to leverage and enhance our existing capabilities. It will also assist us in the seamless delivery of global video projects.”

Vyas says SKY has already had very positive experiences with the company. “For example, we used 90 Seconds to film content for some of our social marketing campaigns as well as international sporting events when it wasn’t feasible to send a full SKY camera crew. They’ve also provided us with some great behind-the-scenes league footage and, interestingly, filmed the negotiations as we nutted out the deal to invest.”

The other major institutional investor is Sequoia Capital India, a global venture capital firm which has invested in more than 250 companies since its foundation in 1972. Early investments included Apple, Google, Oracle, Paypal, YouTube, Instagram, Yahoo! and WhatsApp.

Norton says: “90 Seconds has an existing global community of shooters and directors and, via our easy-to-use cloud platform, customers can order a video project online from anywhere in the world.

“We’re delighted SKY and Sequoia have recognised the extensive potential to expand the company globally. Their investment will allow us to accelerate that plan in the coming months and years.”