Editor’s note: CED’s Tech Venture is offering a series of “Spotlight” presentations focusing on 18 emerging startups spread across five sectors. In the “New Paradigms” showcase, three startups demonstrate new ways of doing business, as Allan Maurer reports exclusively for WRAL TechWire. Be sure to check out our photo slideshow of the presentations from WRAL’s Kelly Hinchcliffe.
RALEIGH, N.C. – Just what is new media? “It’s everything that isn’t old media,” said Phil Alvelda, CEO of TaDA and founding CEO of MobiTV, in introducing the New Media/New Paradigm startup showcase at the CED Tech Venture Conference Tuesday.
“Even old media realizes it can’t be old media long and survive,” Alvelda said, adding that “Everything old can be new again.”
Alvelda said he hoped to see new media players such as Netflix, Amazon and Hulu cooperate more the way old media such as cable TV does when it bundles content so the cost is spread across all customers.
Three new media/paradigm startups, GroundFloor, CrowdTunes and FotoSwipe talked about their business models in six-minute presentations.
Real Estate Deals for All
Raleigh-based GroundFloor is a microlending community for real estate which allows its non-accredited investors to ear over 8 percent annual interest by lending $100 and up to independent builders they chose. The loans are secured by the underlying property.
The company, which closed more than $1 million in transactions across six loans funded to $285,000 has raised $1 million in backing and will seek additional venture funding in the next few months, saidy Brian Daily, co-founder and CEO.
CrowdTunes, based in Durham, is a music management service that lets users bid on the music they want to hear at a variety of venues, including bars and stadiums.
The company notes that $1.2 billion is spent on music across 600,000 U.S. bars and restaurants annually. It’s currently focused on door-to-door sales but plans to shift to large chains and sport venues in 2015.
It currently has 15 venues across three states and expects to be in 50 venues by the end of 2014. It won a $46,000 grant from NC IDEA and $25,000 from the Duke Summer Innovation Program and is currently raising a seed round in an undisclosed amount.
Sharing Without Email
FotoSwipe is an app that lets users instantly share photos and contacts across multiple devices with the swipe of the finger. The user selects up to 10 photos and swipes them toward the intended device.
Based in Raleigh, it closed a $350,000 seed round and saw 10,000 photos swiped during its soft launch. Full launch is planned for October.
Sylvain Dufoour, founder and CEO said that the app means “You’ll never have to text or email pictures again.”
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