In a bid to ramp up its digital and video strategy, News Corp is adding social news agency, Storyful, to its stable. Storyful is a Dublin, Ireland-based news gathering platform developed and powered by journalists. The media giant paid 18M euros ($24.6M) for the company that was founded in 2008 by Mark Little. It discovers, verifies, acquires and distributes video and user-generated content to its partners and provides social media dashboards, feeds and analytics, so that customers can integrate video into their news or advertising efforts, and monitor social conversations. So far in 2013, user-generated videos managed by Storyful brought in 750M million views for its partners. The company will operate as a stand-alone business unit within News Corp which will expand Storyful’s video products and services. News Corp will also utilize Storyful’s tools to help drive engagement and revenue across the conglom’s businesses. The company has previously worked with News Corp properties like The Wall Street Journal. News Corp CEO Robert Thompson said, “Video is a vocation for the new News, which will combine with Storyful to reach a growing global audience, enhancing our own editorial products and creating new content communities.”
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