Shakr Media Secures $3 Million in Series A In Order to Expand Its Platform.
Shakr Media has recently manage to secure itself a total of $3 million in a Series A round in order to expand their tech platform. Their only investor would be POSCO Venture Capital, Who assists with gaining the funds from the South Korean government.
This fresh round comes right after a previous financial round that amounted to $700,000. Shakr Media brings video advertising at an affording cost making it accessible for much smaller businesses. The company automatically creates video clips from a shred of information from their in-house algorithm-like that crawls the web.
Currently, in order to produce a marketing video campaign on YouTube the production cost can go as high up to tens of thousands of dollars. Something a smaller company would normally not be able to afford and thus missing out on the marketing opportunities much bigger companies have the luxury of enjoying. Founder and CEO of Shakr Media, David Lee, elaborated tha they are opening the doors for much smaller companies to reap the marketing benefits of video advertising.
ComScore had recently managed to publish a study that showed a total of 46.6 billion videos were viewed by 187.8 million Americans this year in March. The total ads viewed amounted 28.7 billion.
“When we launched in May of last year, we focused on personal video templates. One day, a company that does custom video ad design sent us a few templates for small businesses. A friend of mine who works at Google happened to be in our office at the time, and he pointed out that having a large number of video ad templates could help a lot of small businesses advertise on YouTube, where the rates for pre-roll ads are quite affordable,” Lee said.
The company has been compared to that of Google Ads making banner adverts accessible to smaller companies with a lower budget around a decade ago. Thus, their own beliefs of the video ads becoming more accessible as potentially ‘revolutionizing’ the adverting world once again, in a similar fashion to that of Google Ads had done.
“GS Caltex, the gas station that I fill up at on my way home, has 3 giant LCD screens running ads for big brands. Every convenience store has 1 to 3 video screens running ads. Video ads running in residential and commercial elevators. Subways and buses even have digital displays running ads and original content. Digital billboards everywhere,” says Lee. “Every day, we see first hand how video is helping businesses tell their stories more effectively.”
Shakr Media was founded during 2005 and has operation offices based in San Francisco and in Seoul, South Korea.