Business

THE NEWS WRAP: Video journalism startup raises $6 million

Broede Carmody /

New York-based video journalism startup NowThisMedia has raised $6 million in Series C funding lead by previous backer Oak Investment Partners, TechCrunch reports.

 

The capital raise follows an investment by NCB Universal News Group earlier this year.

 

The startup, founded by BuzzFeed chairman Kenneth Lerer and Huffington Post chief executive Eric Hippeau in 2012, aims to reinvent video journalism in the smartphone era by producing short news clips than can be distributed across mobile and social media platforms.

 

The company’s videos were watched around 40 million times during the month of November.

 

Samsung considers taking on Apple Pay


Samsung is in talks with a startup that would help it unveil a wireless mobile payments system that could rival Apple Pay in 2015.

 

The smartphone manufacturer is in talks with mobile payments startup LoopPay and a prototype has been created, according to Recode.

 

The partnership could see Samsung customers pay for items by waving their phone instead of swiping their card or paying with cash.

 

Apple Pay was launched in September this year, using near field communication technology in the iPhone 6 to do away with credit cards and overcrowded wallets.

 

Jury rules Apple did not violate antitrust laws in 2006

 

An American jury has decided Apple did not violate antitrust laws in 2006, letting the company walk away from a case that could have seen them pay $1 billion in damages.

 

The Verge reports the plaintiffs in the case unsuccessfully argued Apple’s iTunes 7.0 reduced competition by making it less easy for consumers to purchase music for their iPod that wasn’t from Apple.

 

The eight person jury delivered a unanimous verdict that the update was a genuine product improvement and did not adversely harm consumers.

 

Overnight

 

The Dow Jones Industrial Average is down 51.18 points or 0.3% to 17,129.66. The Aussie dollar is currently trading at US82 cents.

 

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Broede Carmody

Broede Carmody is a former senior reporter at SmartCompany. Previously, he was a co-editor of RMIT University's student magazine Catalyst.

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