Storyful Seizes Social Media Opportunity to Become News Agency of Digital Age

The immense and still growing content available through social media presents an ever increasing challenge to most of us. On the flip side, it has created a substantial opportunity for many companies seeking to collect, organise, verify and deliver that information in a way the end user requires.

Mark Little, former broadcaster with RTE, saw a gap in the market for a service that separates news from the noise of real-time internet communications. He founded Storyful in 2010 with the aim of discovering big stories on the vast social media resource, verifying them, finding credible sources and selling them on to media outlets worldwide. Effectively becoming the Associated Press or Reuters of the digital age.

Storyful approached Dublin Business Innovation Centre (Dublin BIC) in June 2010 seeking assistance to develop its business plan and to bring the company to a point where it had a compelling market proposition. Over a seven month period Dublin BIC consultants worked closely with the Storyful founder to address business and market issues and on developing its funding strategy.

On the interaction with Dublin BIC, Mark Little, chief executive of Storyful said, ‘Storyful was really only an idea when we met with Dublin BIC and the Halo Business Angel Partnership. The Dublin BIC team challenged the idea, tested the logic, shaped and ultimately brought the “Story” to life, including helping us raise our first round of funding.

However, the real value of Dublin BIC is that, as well as being an excellent business advisor, it plays the role of coach and mentor putting huge importance on the qualities like leadership, courage and confidence. Now that Storyful is a reality, our team owes a huge debt to the good people at Dublin BIC for their guidance and also their inspiration. A start-up in Ireland could have no better set of friends’.

Evidence suggests there is a market. Today, Storyful lists the New York Times, ABC News, France 24, Channel 4, Bloomberg, YouTube and many more as its clients.