Singapore: SPH Media Fund participates in $13m Wochit investment

Social video creation platform Wochit has secured the receipt of $13 million in strategic investment from media conglomerates ProSiebenSat.1, Singapore Press Holdings’ SPH Media FundCarlo de Benedetti and several existing investors including Redpoint, Marker LLC and Cedar Fund.

According to the company, the funds will be used to further enhance Wochit’s technology and to expand its business with publishers and content creators worldwide.

The investment from existing customers, each representing dozens of brands, is representative of the strategic value of the Wochit platform, which supports rapid, cost-effective production of timely, socially-optimized video.

Commented Jens Doka, Chief Product Officer, ProSiebenSat.1 Digital, whose premier brands include ProSiebenSat.1, Sixx and Kabel Eins, “The proliferation of content platforms has resulted in an incredible demand for video. With Wochit, ProSiebenSat.1 is able to produce video content at the scale needed to address this growing need, even providing tools to help deliver that content in the right format for each distribution channel.”

Wochit is a video creation platform that empowers newsrooms, media companies and brands to expand audience engagement through the power of social video and is used by media brands such as Time Inc.,, USA Today, AOL, ProSieben, The Straits Times, Die Welt and Der Spiegel, amongst other media brands.

It enables the creation of short-form videos around trending topics at the scale and speed required in an era of growing smartphone proliferations and utilises rights-cleared, pre-licensed assets from AP, Reuters, Getty, Bloomberg and others, cloud-based editing tools and native uploads for distributing videos across social and digital platforms.

The investment by SPH Media Fund, the corporate venture capital arm of Singapore Press Holdings (SPH), shows Wochit’s growing presence in the Asian market.

As a platform, it provides publishers with a powerful tool permitting video-based storytelling to turn what is traditionally a resource-intensive proposition into a user-friendly, cost-effective one.

A Wochit customer, SPH is already engaging audiences with Wochit video across properties such as The Straits TimesLianhe Zaobao, The Business TimesAsiaOne and Stomp.

This development comes as its revenues are reported to have been declining for four consecutive years, with SPH merging two of its publications and currently reviewing its investment strategy – particularly regarding the continued existence of its media startup accelerator, SPH Plug & Play.

Speaking on the investment,, Wochit co-founder and CEO Dror Ginzberg said, “I’m proud that such esteemed media organizations value the impact Wochit is having on the industry to a degree that they are taking a stake in our continued growth.”

“We’re confident that this investment will give us the ability to continue to drive results for our current partners and broaden our client base into new markets around the world,” Ginzberg adds.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.