Herndon, Va. (PRWEB) November 29, 2012
The Center for Innovative Technology (CIT) announced today an investment in Dulles, Va.-based Cont3nt.com, a real-time marketplace for breaking photo and video journalism.
Cont3nt.com makes it possible for media companies, freelancers and citizen journalists to sell breaking news stories to media outlets around the world. Breaking news has a shelf-life of under 30 minutes before it loses its value. Cont3nt.com connects creators and acquirers in real-time.
Media creators can sell privately through the platform to protect their story, or sell via Twitter to maximize their exposure. Creators simply upload their content, select pricing and licensing, and decide which media outlets to deliver to. Cont3nt.com takes care of the rest. A media company receives a submission, backed by a reputation system and if they are interested in the content offered, the company can buy it with just three clicks.
Pete Jobse, CIT President and CEO, said, “Cont3nt.com's innovative technology allows journalists to upload and sell their digital media to news outlets instantly. Investing in this company will enhance the broadcast of news worldwide.”
Cont3nt.com’s CEO Anton Gelman said, “The Arab Spring, Occupy Wall Street and the recent presidential elections have shown the power of real-time communications and citizen journalism, but today it’s still difficult for citizen journalists to earn money on even the most amazing content. We started Cont3nt.com to make it profitable to get your story to the world. With the support of CIT GAP Funds, we’ll be able to continue developing our product so that it becomes a ubiquitous global platform."
Tom Weithman, CIT Vice President and GAP Funds Managing Director, said, “We provide seed-stage funding to entrepreneurs like Anton Gelman because we believe in investing in ground-breaking technologies that will benefit long-term economic growth and jobs for Virginia.”
Since its 2005 launch, CIT GAP Funds has placed over 75 investments across the Commonwealth, deploying greater than $6 million of public funds and attracting over $80 million more in private funding.
Learn more about Cont3nt.com by visiting their website.
About the Center for Innovative Technology, http://www.cit.org
CIT is a nonprofit corporation that accelerates the next generation of technology and technology companies. CIT creates new technology companies through capital formation, market development and revenue generation services. To facilitate national innovation leadership and accelerate the rate of technology adoption, CIT creates partnerships between innovative technology startup companies and advanced technology consumers.
About the CIT GAP Funds, http://www.citgapfunds.org
CIT GAP Funds makes seed-stage equity investments in Virginia-based technology, clean tech and life science companies with a high potential for achieving rapid growth and generating significant economic return for entrepreneurs, co-investors and the Commonwealth of Virginia. CIT GAP Funds investments are overseen by the CIT GAP Funds Investment Advisory Board (IAB). This independent, third-party panel consists of leading regional entrepreneurs, angel and strategic investors, and venture capital firms such as: New Enterprise Associates, Grotech Ventures, Valhalla Partners, Harbert Venture Partners HIG Ventures, Edison Ventures, In-Q-Tel, Intersouth Partners, SJF Ventures, Carilion Clinic, Johnson & Johnson, General Electric and Alpha Natural Resources.
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