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Crowdsourced News Platform NewsiT Raises $500K

Crowdsourced News Platform NewsiT Raises $500K

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Published by: Crowdsourcing.org on Mar 09, 2012
Copyright:Attribution Non-commercial


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Posted on: March 08, 2012, by Connie Loizos 
, a mobile „crowd
reporting‟ platform based in Washington,
D.C., has raised $500,000 in seed funding from individual investors whoinclude
Sandra Kresch
, managing director or of Golden Seeds, and
Chrisman Iribe
, the CFO of Scaleform and former president and COOof PG&E.The company, founded by former journalist
Melinda Wittstock
in 2010,invites users to collaborate by sharing images, audio, and text around
“assignments” that they can join, based on common i
nterests, as well astheir location.
 NewsiT.net, a mobile crowd-reporting platform that engages andrewards people for creating and sharing news, announced today that ithas closed on $500k in seed funding and will launch its iPhone app atSouth by Southwest Interactive.
 NewsiT harnesses the power of the „crowd‟ to create, collaborate and
share news and information on smart-phones, the web and tablets.Anyone can join assignments based on common interests and location,and earn points, badges and rewards for contributing content, sharingand inviting friends to join assignments. NewsiT contributors uploadtext, images, audio and video to the platform to report their stories.
Professional journalists, aided by sophisticated “big data” algorithm
s,focus assignments and work with contributors to quickly craft andpublish accurate, high quality news. Stories are published on NewsiT.netand its apps and syndicated across media content partner sites.
 NewsiT‟s unique approach to editing and curating q
uality, personally-relevant and user-generated content:· Gives people a voice
a forum to report on the stories that matter mostto them and a chance to share their unique perspectives. The social andgaming aspects make it a fun and rewarding experience.· Enables advertisers to engage influencers in their target markets aroundspecific content and locations, and in a 100% brand safe environment.· Provides media companies with high-quality, low-cost content and
access to NewsiT‟s community of engaged co
“News is social. It‟s a conversation. The more participants, the more
perspectives, expertise, and eye-witness accounts, the better the quality,
 breadth and relevance of the reporting,” says Founder and CEO MelindaWittstock. “We empower people
to create, collaborate and share thenews stories that matter most to them, their friends and community. Andour unique editorial processes assure quality, unprecedented efficiencies
and scalability.”
Serial entrepreneur, award-winning journalist andexecutive Melinda Wittstock founded NewsiT in 2010 and is its CEO.Melinda has 25 years of experience across TV, radio, print journalismand social media, having worked for the Times of London, BBCTelevision, Guardian, Observer, ABC News, National Public Radio andMSNBC/CNBC during her career.
In 2002 Melinda founded and built Capitol News Connection to servemore than 200 public radio stations, local TV outlets and newspaperswith award-winning localized coverage of Congress andwww.askyourlawmaker.com (now part of NewsiT LLC).NewsiT investors include Sandra D. Kresch, the President of PSDInternational and Managing Director of Golden Seeds, and P. ChrismanIribe, the CFO of Scaleform Corporation and former President and COOof PG&E.
“NewsiT is the most exciting new service I‟ve seen in a 35 year career inthe media,” says Sandra D. Kresch. It builds on the power of a highly
motivated, attractive demographic to transform the news business with
 benefits to consumers, media and advertisers. I‟m thrilled to be a
part of 
making it a reality.”
P. Chrisman Eribe adds: “Having helped a small software startup grow
to be a substantial player in the middleware segment of the video game
industry, I am thrilled to be a major supporter of NewsiT.”
 NewsiT is also pleased to announce that it has been selected as a SxSWHATCH finalist this year and will be one of 15 companies presenting on
March 11 at the pitch competition “for tech startups with revolutionaryideas.”
 Even before the launch of its iPhone app, NewsiT demonstrated theeffectiveness of its beta platform by producing crowd-reported stories ontopics ranging from the high cost of college textbooks to a rally byveterans supporting presidential candidate Ron Paul. Scores of contributors have uploaded information, photos and video for those andother stories using the NewsiT web site.

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