Trade Me partners put $1.25m in Ebus
The original TradeMe angel investment company Movac and TradeMe founder Sam Morgan have joined forces again to back ebus, a local film and television production software company that is set to tackle Asia.
ebus has developed cutting edge software that allows production teams, creatives and their clients to access and edit the same piece of video footage at the same time no matter where in the world they are. The ebus system allows the footage to be sent across town or the world securely, and in an instant, eliminating the need for tapes or couriers.
The technology was developed in Auckland where ebus began life in the Icehouse incubator. After achieving success in the local market, ebus is gearing up for a major assault on the lucrative Asian market.
Movac and Jasmine Investments, Sam Morgan’s investment vehicle, have invested $1.25 million in ebus, their first joint investment since their original partnership in TradeMe in 1999.
Movac Director Dion Mortensen said ebus was an attractive investment option for the group because of the calibre of its CEO, Carmine Masiello, and the opportunities in Asia.
“Carmine is a remarkable entrepreneur whose energy and drive are compelling. Like all things, timing is everything in investment, and right now the time is right for ebus in Asia. Broadband capacity has just reached the level where the ebus business model is viable. Suddenly Asia is a huge untapped market,” he said.
ebus has set up a regional sales and marketing office in Singapore, and their nitial emphasis is on India.