NowPublic Thinking Big
With a goal to become the world’s largest news agency, NowPublic is looking to raise another round of private equity. During a keynote earlier today at the Canadian Venture Forum, Leonard Brody, who heads up corporate development, said the Vancouver-based company is working on terms sheets with U.S. VCs. NowPublic, which has become one of the leading citizen journalism players, raised $1.8-million last May from Brightspark Ventures. The company’s profile got a huge boost last month when it signed a partnership with AP, which will use photographs, video and news from NowPublic’s citizen journalists.
While the CVF wasn’t exactly teeming with energy, Brody’s keynote presentation was excellent. In a 30-minute whirlwind, he touched upon Canada’s competitiveness, economic growth prospects, the country’s innovation DNA (Apparently, we totally rock when it comes to producing new technologies but drop the ball when it comes to looking at markets beyond the U.S.); and the venture capital landscape in Canada vs. the U.S. (Canadian VCs are doing better than most people/investors/entrepreneurs give them credit).
I particularly liked Brody’s closing remarks in which he quoted Sir Winston Churchill who said that “success is defined by going from failure to failure without losing your enthusiasm”. For entrepreneurs struggling to succeed, those are mighty fine words to live by.
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