Fresco News, a crowd-sources news startups has announced it raising $1.2 million through seed round of funding by journalistic investors.
Founded in 2014, Fresco is a crowdsourced news platform that allow user to reading breaking news as well as to contribute pictures and videos to the professional news organizations. It is not possible for newspapers or other media to resource all details about all events especially if it happens in some remote corner of the world. So through this app, new agency can create an assignment and request any users close by to send them pictures and other details of the event. The contributors are paid through compensation or credit.
“We want to make reporting in the media more transparent, we think creating a way for viewers to experience news though the eyes of regular, everyday people is the best way to do that,” said John Meyes, CEO and founder of Fresco. “For newsrooms, we have effectively created a way for them to get visual coverage of anything in 30 minutes or less using the incredible smartphone cameras in our pockets.”
The app makes use of the sensors and GPS to verify the time and place where the video or photo was shot conforming to the authenticity. Fresco has a list of tools that consists of Fresco Dispatch that allows local and national newsrooms create location-based assignment for users who are in close proximity. The app’s ‘highlight’ tab provides a list of most recent user-reported stories and the ‘Stories’ tab shows a selection of images from trending events around the world.
The recent seed round of funding was participated by Reese Schonfeld, a co-founder of CNN and the Food Network; former Yahoo CEO Ross Levinsohn; former AOL Chief Executive Jon Miller; Michael Jones, former Myspace CEO and currently CEO of Science Inc; and Mediabistro founder Laurel Touby and other early stage investors Fresco Capital, 1517 Fund, Social Starts and others.
With the fresh funds, Fresco plans to invest it to boost growth of the company. It launched a major update for its iOS app a day ago introducing new look and better tools. Its planning to introduce an update for Android soon. Currently, The Associated Press, Media General and Calkins Media are some of the Newsroom Tool Suite users.