Masher Raises £550,000
Masher, a Gateshead-based developer of a web appication that allows users to mix content (videos, photos, music and digital effects) and post the result on social networking sites such as Facebook and Twitter, has received a £550,000 investment.
The company has raised £250,000 from the Finance for Business North East Creative Content Fund and the remaining portion from Northern Film and Media and Northstar Ventures.
Existing investors include IBIS Capital, BBC Worldwide, Mallesons Finance and private backer Tom Singh.
As stated by Managing director James Clifton, the funding will help Masher to fully integrate the app into Facebook and develop premium services, which can be utilized by users paying a small fee.
The application, which was developed at BBC Worldwide’s BBC Motion Gallery unit, has been used in campaigns for global brands including Adidas, Nike and American Express.
Created in 2008, the company currently has three employees at the Gateshead International Business Centre and plans to hire four or five people in the next 12 months.