Globis, Gree invest in Japan crowd-sourced editing platform
Globis Capital Partners and Gree Ventures have together invested JPY300 million ($2.9 million) in Viibar, the Japanese start-up behind the video production-focused crowd sourcing platform of the same name.
Set up in April of last year, Viibar caters to small enterprises that need to produce video clips or ads to promote their products or services online. By splitting the video production process into small tasks, the platform allows its users to create high quality videos at affordable rates by taking advantage of crowd-sourced skills.
Viibar also accepts orders to create YouTube TrueView video ads, providing content optimization advice and a means of measuring ad effectiveness.
According to a release, the funding will be used to strengthen the firm's management, expand marketing efforts and further develop the platform.
The start-up is a recent graduate from Tokyo-based accelerator Open Network Lab (OnLab) and won the award for best team at the accelerator's demo day in October. It is one of several VC-backed Japanese start-ups leveraging the crowd-sourcing business model.
Other recent examples include: Mugenup.com, a business that crowd sources design talent to work on projects for game developers, which received funding from SMBC Venture Capital and Industrial Growth Partners in August; and Viki, a global video streaming platform recently acquired by e-commerce giant Rakuten, which provides crowd sourced subtitles in 160 languages.
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